Welsbach Technology Metals Acquisition Corp. Files 2023 Annual Report

TL;DR

<b>Welsbach Technology Metals Acquisition Corp. has filed its 2023 annual report on Form 10-K, detailing its corporate structure and stock exchange listings.</b>

AI Summary

Welsbach Technology Metals Acquisition Corp. (EMAT) filed a Annual Report (10-K) with the SEC on April 16, 2024. Welsbach Technology Metals Acquisition Corp. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is incorporated in Delaware and its fiscal year ends on December 31. Its principal executive offices are located at 160 S Craig Place, Lombard, Illinois. The company's common stock, units, and rights are traded on The Nasdaq Stock Market LLC. Welsbach Technology Metals Acquisition Corp. has submitted all required reports for the preceding 12 months and has been subject to filing requirements for the past 90 days.

Why It Matters

For investors and stakeholders tracking Welsbach Technology Metals Acquisition Corp., this filing contains several important signals. This filing provides a comprehensive overview of the company's financial and operational status for the fiscal year 2023, which is crucial for investors to assess performance and future prospects. The report confirms the company's compliance with SEC filing requirements, indicating a level of transparency and adherence to regulatory standards expected by the market.

Risk Assessment

Risk Level: low — Welsbach Technology Metals Acquisition Corp. shows low risk based on this filing. The filing is a standard annual report (10-K) with no immediate red flags, indicating routine disclosure rather than urgent news.

Analyst Insight

Monitor future filings for updates on the company's business operations and financial performance, particularly any strategic developments or changes in its market position.

Key Numbers

• 20231231 — Fiscal Year End (The end date of the reporting period.)
• 20240416 — Filing Date (The date the 10-K was filed.)
• 001-41183 — Commission File Number (SEC file number for the registrant.)

Key Players & Entities

• Welsbach Technology Metals Acquisition Corp. (company) — Filer of the 10-K report.
• Nasdaq Stock Market LLC (company) — Exchange where company's securities are traded.
• Delaware (jurisdiction) — State of incorporation.
• Lombard, Illinois (location) — Location of principal executive offices.

FAQ

Industry Context

Welsbach Technology Metals Acquisition Corp. operates within the financial services sector, specifically as a special purpose acquisition company (SPAC).

Regulatory Implications

The company is subject to the reporting requirements of the Securities Exchange Act of 1934, including the filing of annual reports (10-K).

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management's discussion and analysis.
2. Track any subsequent filings or press releases from Welsbach Technology Metals Acquisition Corp. for business updates.
3. Analyze the company's stock performance and trading volume on the Nasdaq.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-16: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the annual report for the fiscal year ended December 31, 2023, following previous filings required by the SEC.

Key Financial Figures

• $0.0001 — onsisting of one share of common stock, $0.0001 par value, and one right to receive one
• $10.65 — eported on the Nasdaq Global Market was $10.65 per share. As of April 16, 2024 there
• $125,000 — ust 30, 2023 in the principal amount of $125,000 to the Sponsor in connection with the E
• $772,769 — ber 30, 2022 in the principal amount of $772,769 to the Sponsor in connection with the E
• $77,276,860 — sed trust account in which an amount of $77,276,860 from the net proceeds of the sale of th
• $10.00 — tock. The units were sold at a price of $10.00 per unit, generating gross proceeds of
• $75,000,000 — per unit, generating gross proceeds of $75,000,000. Simultaneously with the closing of th
• $3,475,000 — ment unit, generating gross proceeds of $3,475,000. On January 14, 2022, Chardan exercise
• $2,276,860 — ment unit, generating gross proceeds of $2,276,860. Simultaneously with the sale of the ov
• $45,540 — e sponsor, generating gross proceeds of $45,540. A total of $77,276,860, comprised of
• $10.79 — hares for cash at a redemption price of $10.79 per share, for an aggregate redemption
• $15.7 m — , for an aggregate redemption amount of $15.7 million, leaving approximately $23.4 mill
• $23.4 million — of $15.7 million, leaving approximately $23.4 million in the trust account after the withdraw
• $12 — Deal is estimated to channel more than $12 trillion of investment in clean energy
• $16 — et zero carbon status by 2060, pledging $16 trillion to cleantech infrastructure in

Filing Documents

• ea0203867-10k_welsbachtech.htm (10-K) — 833KB
• ea020386701ex31-1_welsbach.htm (EX-31.1) — 8KB
• ea020386701ex31-2_welsbach.htm (EX-31.2) — 9KB
• ea020386701ex32-1_welsbach.htm (EX-32.1) — 5KB
• ea020386701ex97-1_welsbach.htm (EX-97.1) — 30KB
• 0001213900-24-033414.txt (&nbsp;) — 4418KB
• wtma-20231231.xsd (EX-101.SCH) — 49KB
• wtma-20231231_cal.xml (EX-101.CAL) — 29KB
• wtma-20231231_def.xml (EX-101.DEF) — 218KB
• wtma-20231231_lab.xml (EX-101.LAB) — 359KB
• wtma-20231231_pre.xml (EX-101.PRE) — 212KB
• ea0203867-10k_welsbachtech_htm.xml (XML) — 358KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 21 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk. 29 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 30 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 30 Item 9A.

Controls and Procedures

Controls and Procedures. 30 Item 9B. Other Information. 30 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 30 PART III 31 Item 10. Directors, Executive Officers and Corporate Governance. 31 Item 11.

Executive Compensation

Executive Compensation. 35 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 36 Item 13. Certain Relationships and Related Transactions, and Director Independence. 37 Item 14 . Principal Accountant Fees and Services. 40 PART IV 41 Item 15. Exhibit and Financial Statement Schedules. 41 Item 16. Form 10-K Summary. 42 i CAUTIONARY NOTE REGARDING

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Report (as defined below), including, without limitation, statements under "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations," includes forward-looking statements within the meaning of Section 27A of the Securities Act (as defined below) and Section 21E of the Exchange Act (as defined below). These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes," "estimates," "anticipates," "expects," "intends," "plans," "may," "will," "potential," "projects," "predicts," "continue," or "should," or, in each case, their negative or other variations or comparable terminology. There can be no assurance that actual results will not materially differ from expectations. Such statements include, but are not limited to, any statements relating to our ability to consummate any acquisition or other business combination and any other statements that are not statements of current or historical facts. These statements are based on management's current expectations, but actual results may differ materially due to various factors, including, but not limited to: our ability to complete our initial business combination; our success in retaining or recruiting, or changes required in, our officers, key employees or directors following our initial business combination; our officers and directors allocating their time to other businesses and potentially having conflicts of interest with our business or in approving our initial business combination, as a result of which they would then receive expense reimbursements; our potential ability to obtain additional financing to complete our initial business combination; the ability of our officers and directors to generate a number of potential acquisition opportunities; our pool of prospective target businesses; the ability of our officers and directors to generate a number of potential acquisition

Business

Item 1. Business. Overview We are a blank check company incorporated under the laws of the State of Delaware on May 27, 2021. We were formed for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this Report as our "initial business combination." Although there is no restriction or limitation on what industry or geographic region our target operates in, we have pursued and will continue to pursue prospective targets that are in the Technology Metals and ETMs sectors; however the geographic region of our search for a prospective target will not include China or the special administrative regions of Hong Kong or Macau and we will not undertake our initial business combination with any entity with its principal business operations in China (including Hong Kong and Macau). Initial Public Offering On December 30, 2021, we consummated our initial public offering of 7,500,000 units. Each unit consists of one share of common stock, and one right of the Company, with each right entitling the holder thereof to receive one-tenth of one share of common stock. The units were sold at a price of $10.00 per unit, generating gross proceeds of $75,000,000. Simultaneously with the closing of the initial public offering, we completed the private sale of an aggregate of 347,500 units to our sponsor at a purchase price of $10.00 per private placement unit, generating gross proceeds of $3,475,000. On January 14, 2022, Chardan exercised the option to purchase up to 1,125,000 additional units to cover over-allotments (the "over-allotment units") in part and purchased 227,686 over-allotment units, which were sold at an offering price of $10.00 per over-allotment unit, generating gross proceeds of $2,276,860. Simultaneously with the sale of the over-allotment units, the Company consummated a private sale of an additional 4,554 private placement uni

View Full Filing

View this 10-K filing on SEC EDGAR