Appleby is pleased to announce that it acted as Cayman Islands legal counsel to AMR Resources Acquisition Corp (AMR), in connection to its initial public offering of 26,000,000 units at $10.00 per unit, and the issuance of 1,000,000 units as result of the underwriter's partial exercise of its over-allotment option. The gross proceeds from the offering were $267 million before deducting underwriting discounts and estimated offering expenses. The units began trading on the Global Market tier of The Nasdaq Stock Market LLC (Nasdaq) under the ticker symbol "AMACU" on July 17, 2026.
Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share of AMR at a price of $11.50 per share. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols "AMAC" and "AMACW", respectively.
The Appleby Capital Markets team was led by Partner Alexandra Low, Paralegal Sophia Cunningham and Articled Clerk Emily McIntyre with other members of the corporate team.
Appleby continues to play a key role in major IPO and public-market matters worldwide.