Skyline Builders signs term sheet to acquire SuperCritical Materials
CRMN•Skyline Builders Group Holding signed a non-binding term sheet to acquire SuperCritical Materials, which develops technology to extract uranium from seawater. The proposed combined entity would be 51% owned by Skyline, 44% by existing SuperCritical shareholders and 5% by new investors investing $10 million; closing is expected in the first quarter of 2027.
1. Proposed ownership
Skyline Builders Group Holding signed a non-binding term sheet to acquire SuperCritical Materials, a developer of technology to extract uranium from seawater. The proposed ownership split gives Skyline 51% of the combined entity, existing SuperCritical shareholders 44%, and new investors 5% through an expected $10 million private placement in SuperCritical.
2. Expected closing
The deal is expected to close in the first quarter of 2027, following the anticipated distribution of Cove Kaz value to Skyline shareholders.
