Metals Acquisition Corp. II (MTAL, MTAL.U) said late Friday it closed its initial public offering of 23 million units at $10 apiece.

Each unit comprises a class A share and one-third of a redeemable warrant, with each warrant exercisable to buy a class A share at a $11.50 per share, the company said.

The units are listed on the New York Stock Exchange and started trading under the ticker symbol "MTAL.U" on Thursday. The class A shares and warrants are expected to be listed under the tickers "MTAL" and "MTAL WS," respectively, once the securities comprising the units begin separate trading, the company said.

The company also closed a private placement of nearly 5.1 million warrants at $1.50 apiece for gross proceeds of $7.6 million.

Metals Acquisition said $230 million of the total proceeds were placed in trust.