Blank-Check

The transaction includes a nickel sulphide mine in Santa Rita, known as Atlantic Nickel, as well as the Mineraçao Vale Verde copper mine in Serrote.

The lawsuits claim SPAC executives pushed through deals that allowed them to cash in their founder shares, even if lofty valuations and overly-optimistic business plans posed long-term risks to other shareholders.

Franklin is pressing ahead with the listing even after the bubble in SPACs companies burst in the U.S., with many of the vehicles shutting down for a lack of targets.

A deal could value the combined entity at a few hundred million dollars and include a private investment in public equity anchored by institutional investors.