Crowell & Moring Represents EMX Royalty Corporation in Public M&A Transaction With Elemental Altus Valued at Nearly $1 Billion Post-Merger

Chicago – November 13, 2025: Crowell & Moring represented EMX Royalty Corporation in its public company merger with Elemental Altus Royalties Corp., creating a combined company with an implied market capitalization approaching $1 billion.

In connection with the transaction, Elemental Altus completed a $100 million private placement financing with Tether Investments S.A. de C.V. Tether Investments is part of the Tether Group, the issuer of USDT Tether, the world’s largest stablecoin.

Under the transaction agreement, Elemental Altus acquired all issued and outstanding common shares of EMX in a merger of equals pursuant to a court-approved plan of arrangement.

Crowell’s multidisciplinary, cross-office team included members of the Capital Markets, Corporate, Tax, Benefits, Antitrust and Competition, International Trade, and Economic Sanctions groups, among others.

Read more about the transaction here.

The Crowell deal team was led by John Koenigsknecht along with David Stone and included Elaine Taussig, Christine Lane, Joe Urwitz, Shawn Johnson, Justin Meltzer, Kristy Wrigley-Durer, Eric Homsi, Shawn Johnson, Caroline Brown, Justin Meltzer, and Jason Sandoval.