Special purpose acquisition company AP Acquisition Corp (NYSE: APCA.U) went public today on the New York Stock Exchange. The company is seeking to raise US$150.0 million through its initial public offering.
The offering consists of 15.0 million company units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one-half of a purchase warrant. Each whole warrant is redeemable to purchase one common share at US11.50 per share. The units will be trading under the symbol “APCA.U” but once the securities are separated, the common shares and the purchase warrants will be trading on the big board under the symbols “APCA” and “APCA.W”, respectively.
Credit Suisse Securities (USA) acts as the sole bookrunner for the offering. The company has granted the underwriters a 45-day over-allotment option to purchase additional 2.25 million company units at the same IPO price.
The offering is expected to close on December 22, 2021, subject to customary closing conditions.
The blank check firm relayed it will focus on the de-carbonization or renewable energy sectors, with a particular focus in Japan, Asian (excluding China) and European markets. The company is led by Richard Folsom as the chairman and Keiichi Suzuki as the CEO.
The firm’s sponsor is an affiliate of Asian private equity firm Advantage Partners which has offices in Tokyo, Hong Kong, Shanghai, and Singapore.
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.
