AltC Acquisition today registered with the SEC to offer 100 million units at $10 each to raise $1 billion. Each unit will consist of one share of Class A common stock and one-sixth of one redeemable warrant; whole warrants exercisable at $11.50.
The new SPAC in the filing said it will focus on a target in an industry where the management team’s expertise in technology companies will provide a competitive advantage.
AltC is the latest blank-check company from Michael Klein, who is CEO, president and chairman of the new SPAC. He is is also the CEO and chairman of Churchill Capital Corp.
The SPAC intends to apply for a NYSE listing under ALCC.U. Read more.
