Welsbach Technology Metals Acquisition Corp. Files 8-K
Ticker: EMAT · Form: 8-K · Filed: Jul 12, 2024 · CIK: 1866226
| Field | Detail |
|---|---|
| Company | Welsbach Technology Metals Acquisition CORP. (EMAT) |
| Form Type | 8-K |
| Filed Date | Jul 12, 2024 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 8 min |
| Key Dollar Amounts | $0.0001, $100M |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, leadership-change, corporate-action
TL;DR
Welsbach Tech Metals filed an 8-K on 7/12/24 detailing new agreements and exec changes.
AI Summary
Welsbach Technology Metals Acquisition Corp. announced on July 12, 2024, the entry into a material definitive agreement. The company also reported the departure of directors or certain officers, the election of new directors, and the appointment of certain officers, along with compensatory arrangements for these officers. The filing also includes financial statements and exhibits.
Why It Matters
This 8-K filing indicates significant corporate actions, including new agreements and changes in leadership, which could impact the company's strategic direction and investor outlook.
Risk Assessment
Risk Level: medium — 8-K filings often signal material events, which can introduce volatility and uncertainty for investors.
Key Players & Entities
- Welsbach Technology Metals Acquisition Corp. (company) — Filer
- July 12, 2024 (date) — Date of Report
FAQ
What is the nature of the material definitive agreement entered into by Welsbach Technology Metals Acquisition Corp.?
The filing indicates the entry into a material definitive agreement, but the specific details of this agreement are not provided in the provided text.
Who are the directors or officers that have departed from Welsbach Technology Metals Acquisition Corp.?
The filing states the departure of directors or certain officers, but their names are not specified in the provided text.
Who has been elected as new directors or appointed as officers at Welsbach Technology Metals Acquisition Corp.?
The filing mentions the election of directors and appointment of officers, but their identities are not detailed in the provided text.
Are there any compensatory arrangements for the newly appointed officers at Welsbach Technology Metals Acquisition Corp.?
Yes, the filing notes that there are compensatory arrangements for certain officers, but the specifics are not detailed in the provided text.
What is the SIC code for Welsbach Technology Metals Acquisition Corp.?
The Standard Industrial Classification (SIC) code for Welsbach Technology Metals Acquisition Corp. is 3690, which corresponds to MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES.
Filing Stats: 1,942 words · 8 min read · ~6 pages · Grade level 14.9 · Accepted 2024-07-12 06:33:54
Key Financial Figures
- $0.0001 — onsisting of one share of Common Stock, $0.0001 par value, and one Right to receive one
- $100M — ram. He is responsible for stewarding a $100MM+ pilot and technology program in asset
Filing Documents
- ea0209339-8k_welsbach.htm (8-K) — 45KB
- ea020933901ex10-2_welsbach.htm (EX-10.2) — 70KB
- 0001213900-24-060788.txt ( ) — 356KB
- wtma-20240712.xsd (EX-101.SCH) — 4KB
- wtma-20240712_def.xml (EX-101.DEF) — 27KB
- wtma-20240712_lab.xml (EX-101.LAB) — 37KB
- wtma-20240712_pre.xml (EX-101.PRE) — 25KB
- ea0209339-8k_welsbach_htm.xml (XML) — 7KB
01 Entry into Material Definitive Agreements
Item 1.01 Entry into Material Definitive Agreements. On July 12, 2024, the board of directors (the "Board") of Welsbach Technology Metals Acquisition Corp. (the "Company" or "WTMA") appointed Mr. Matthew Rockett ("New Director") as a director of the Company (the "Appointment"), effectively immediately. For more information on the Appointment, refer to Item 5.02 of this Current Report on Form 8-K. In connection with the Appointment, the Board authorized the Company to enter into indemnity agreement with the New Director (the "Indemnity Agreement"). The Company and New Director consented to and executed the Indemnity Agreement on July 12, 2024. A copy of the form of Indemnity Agreement is incorporated by reference as Exhibit 10.1 to this Current Report on Form 8-K. In exchange for New Director's service on the Board, the Board further authorized the Company to enter into certain agreements with the New Director (the "Share Compensation Agreement"). The Company and New Director consented to and executed the Share Compensation Agreement on July 12, 2024. For more information on the Share Compensation Agreement, refer to
02 of this Current Report on Form 8-K
Item 5.02 of this Current Report on Form 8-K.
02 Departure of Directors or
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Agreements of Certain Officers. On March 18, 2024, Ms. Emily King resigned from her position as director, and a member of the Audit Committee, member of the Compensation Committee, and member of the Special Committee of the Board of Directors of the Company, effective immediately on March 18, 2024, and Mr. Andrew Switaj resigned from his position as director, and chair of the Compensation Committee, member of the Audit Committee, and member of the Special Committee of the of Board of Directors of the Company, effectively immediately on March 18, 2024. Neither Ms. King's nor Mr. Switaj's resignation is a result of any disagreement with the Company on any matter related to the operations, policies, or practices of the Company. On July 12, 2024, the Board appointed the New Director to serve as an independent director of the Company, and member of the Company's Audit Committee and Compensation Committee. Mr. Rockett will serve as chair of the Company's Compensation Committee. Mr. Matthew Rockett – Director Matthew Rockett has over two decades of industry experience working for one of the world's largest fully integrated energy companies. Mr. Rockett most recently serves as the Manager of Competitive Performance for Chevron's Mid-Continent Business Unit in Houston, Texas, where he oversees the Competitive Performance program. He is responsible for stewarding a $100MM+ pilot and technology program in asset development and base operations to drive step-change improvements in key impact metrics in the Permian Basin. Previously, Mr. Rockett held the position of Management Advisor, Subsurface, at Chevron Technical Center, advising the Vice President of Subsurface. He also served as the Supervisor of Production Engineering for TengizChevroil in Kazakhstan, managing the Staff Production Engineering team and optimizing various programs including the ca
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. EXHIBIT INDEX Exhibit No. Description 10.1 Form of Indemnity Agreement (incorporated by reference to Exhibit 10.5 to the Company's Form S-1, filed with the Securities and Exchange Commission on December 2, 2021) 10.2 Share Compensation Agreement 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: July 12, 2024 Welsbach Technology Metals Acquisition Corp. By: /s/ Christopher Clower Name: Christopher Clower Title: Chief Operating Officer and Director 3