Advent Technologies and AMCI Acquisition announced that institutional investors, including certain funds managed by affiliates of BNP Paribas, have committed to a $65 million PIPE in the form of 6.5 million shares of common stock of the combined company at a price of $10 per share, which would close concurrently with the proposed business combination.
Advent designs fuel cells using hydrogen technology.
If approved by the stockholders of AMCI and Advent, the business combination is expected to close in the first quarter of 2021. Read more.
