- Business
- Liberty Resources Acquisition Corp. (NASDAQ: LIBYU) is a blank check company, or special purpose acquisition company (SPAC), incorporated in 2021 and headquartered in New York, New York. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, primarily targeting the natural resources industry, including oil and gas, mining, and renewable energy sectors; it currently conducts no significant operations and generates no revenue. Sponsored by Liberty Fields LLC and led by CEO Dato’ Maznah Binti Abdul Jalil and CFO Dato’ Khalid bin Hj Ahmad, it raised $115 million in its initial public offering in November 2021 through 10 million units comprising one Class A ordinary share and one-half redeemable warrant. In December 2022, Liberty entered a definitive business combination agreement with Caspi Oil Gas LLP, valued initially at a pro forma enterprise value of $427.7 million, under which Liberty would become a wholly owned subsidiary of Liberty Onshore Energy B.V., but the parties mutually terminated the deal in May 2024 due to challenging global economic conditions. The company established an M&A Transition Taskforce in March 2023 to support the then-proposed transaction and launched a new investor relations website at https://www.liberty-resources.com in August 2023; it has extended its deadline to complete an initial business combination multiple times, most recently to April 2024 via trust deposits, and continues seeking opportunities in natural resources without a current target as of late 2025.