Green Energy SPAC ClimateRock Prices US$75 Million IPO

Special purpose acquisition company ClimateRock (Nasdaq: CLRCU) started trading publicly on the Nasdaq Global Market on Thursday. The company is seeking to raise US$75 million in its initial public offering.

The offering consists of 7.5 million company units priced at US$10.00 per unit. Each unit is composed of one Class A share, one-half of a purchase warrant, and one-tenth of a right. Each whole warrant is redeemable for one Class A common share at US$11.50 per share while each whole right is equivalent to one Class A common share upon a successful business combination.

The company units trade on the Nasdaq big board under the symbol “CLRCU”. Once the securities separate, the company shares, warrants,a nd rights will trade under the ticker symbols “CLRC”, “CLRCW”, and “CLRCR”, respectively.

The proposed offering is being managed by Maxim Group as the lead bookrunner. The underwriters were granted a 45-day over-allotment option to purchase additional 1.125 million company units at the same IPO price.

The offering is expected to close on May 2, 2022, subject to customary closing conditions.

On its target business combination, the firm plans to pursue firms within the sustainable energy industry in the Organization for Economic Co-operation and Development countries.

Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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