# American Ocean Minerals, led by former Rio Tinto CEO Tom Albanese, will merge with Odyssey Marine Exploration in a $1 billion all-stock deal.

*business · news · 2026-04-08 · The Economic Times*

## Key points

- American Ocean Minerals will merge with Odyssey Marine Exploration in a $1 billion all-stock deal.
- The merged entity will control one of the world's largest portfolios of underwater mineral deposits.
- AOM has requested two international mining licenses in the Clarion-Clipperton Zone, challenging the International Seabed Authority.
- Institutional investors will provide $225 million in private placement and pre-public financing for the merger.
- The new company will be listed on Nasdaq under the ticker 'AOMC' after the deal closes.

**Companies:** American Ocean Minerals, Odyssey Marine Exploration
**Countries:** United States, Cook Islands

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/markets/us-stocks/news/ex-rio-tinto-ceos-deep-sea-mining-firm-to-merge-with-odyssey-in-1-billion-deal/articleshow/130120738.cms)

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