First Reserve Sustainable Growth priced its IPO of 20 million units at $10 each.
Units start trading today on the Nasdaq under FRSG U. Each consists of one share of the Company’s Class A common stock and one-fourth of one redeemable warrant, with each whole warrant exercisable to purchase a share of Class A common stock at $11.50. Once the securities comprising the units begin separate trading, stock and warrants are expected to list under FRSG and FRSG W, respectively.
The offering is expected to close March 9.
First Reserve plans to target companies engaged in energy transition toward a low-carbon future. Read more.
