M Evo Global Acquisition II, a newly formed special purpose acquisition company, has filed for an initial public offering seeking to raise up to $225 million as it targets the US critical minerals sector. The filing highlights growing investor interest in supply chain security and strategic resources as policymakers and industries push to reduce reliance on foreign sources for essential materials.

Company Background

Founded in 2025 and based in Farmers Branch, Texas, M Evo Global Acquisition II is focused on identifying acquisition targets tied to critical minerals that support US economic resilience and national security. The SPAC is led by CEO and Chairman Stephen Silver, founder and Managing Director of Australia-based Evolution Capital and a director at LTL Capital, bringing experience in natural resources and structured investments. He is joined by CFO Arthur Chen, formerly Chief Accounting Officer of The Metals Company, adding operational and public market experience in the mining and metals space. Management previously sponsored Evolution Global Acquisition, which raised $210 million in late 2024 and also focused on critical minerals.

IPO Details

M Evo Global Acquisition II plans to raise $225 million by offering 22.5 million units priced at $10.00 each. Every unit will include one share of common stock and one-third of a warrant, exercisable at $11.50. The company intends to list on the Nasdaq under the symbol MEVOU. The offering is being led by Cohen & Company Securities as sole bookrunner, and the company filed confidentially with the SEC on September 25, 2025.

Market Context & Opportunities

The IPO comes amid heightened attention on critical minerals such as lithium, rare earth elements, and other strategic materials essential for electric vehicles, renewable energy, defense systems, and advanced manufacturing. US government initiatives aimed at reshoring supply chains and securing domestic mineral resources have improved the long-term outlook for companies operating in this space. For a SPAC like M Evo Global Acquisition II, these dynamics create a potentially rich pipeline of targets aligned with national policy priorities and long-term industrial demand.

Risks & Challenges

Despite favorable tailwinds, the critical minerals sector carries notable risks, including commodity price volatility, permitting and environmental hurdles, and long development timelines. As a blank check company, M Evo Global Acquisition II also faces the inherent uncertainty of identifying and completing a value-accretive business combination within the required timeframe. Investor returns will ultimately depend on management’s ability to secure a high-quality asset and navigate regulatory and operational complexities.

Closing Paragraph

M Evo Global Acquisition II’s $225 million IPO filing underscores how strategic resources continue to attract capital even in a selective IPO environment. Whether this SPAC can translate policy-driven momentum into a successful acquisition remains to be seen, but its focus on US critical minerals places it squarely at the intersection of national security, energy transition, and long-term industrial growth.