GoGreen Investments Corporation (GOGN)

GoGreen Investments Corporation was a special purpose acquisition company, a listed shell formed to merge with a private operating business. Based in Houston, it said it would look for targets tied to the energy transition and decarbonization. Like other SPACs, it held its IPO proceeds in a trust account while management searched for a deal. Public holders could redeem their shares for cash from the trust if they did not like the transaction it proposed.

The company priced its initial public offering in October 2021 and closed it on October 25, 2021. It sold 27.6 million units at $10.00 each, including the underwriters' over-allotment, raising $276 million. The units traded on the NYSE as GOGN.U, with the Class A shares and warrants later trading separately as GOGN and GOGN.WS. The offering had been cut in size from its original filing before it priced.

In December 2022 GoGreen agreed to combine with Lifezone Metals, a company developing the Kabanga nickel project in Tanzania and a hydrometallurgical refining technology meant to cut emissions compared with smelting. The deal valued Lifezone at about $681 million. A $70 million PIPE at $10 per share was arranged to satisfy the transaction's minimum cash condition. The structure placed both companies under a new Isle of Man holding company, Lifezone Metals Limited.

GoGreen shareholders approved the merger at a special meeting on June 29, 2023, and the transaction closed in early July. Lifezone Metals shares and warrants started trading on the NYSE on July 6, 2023 under LZM and LZMW, and the GOGN symbols were retired. Former GoGreen holders who did not redeem received Lifezone Metals shares. The successor continues to focus on battery metals and refining technology.