Zimmer Energy Transition Acquisition today registered with the SEC to offer 35 million units, each consisting of one share of Class A common stock and one-third of one warrant; whole warrants exercisable at $11.50. The new SPAC may also raise $200 million at the closing of any business combination under forward purchase agreements with sponsor Zimmer Partners and Bluescape Resources.
The SPAC in the filing said it plans to target companies that serve the clean energy ecosystem, including renewable power generation, energy storage, the distributed electrical grid, zero-emission transportation, zero / low-carbon industrial applications and renewable financing.
The company is led by CEO and Chairman Stuart Zimmer, the portfolio manager and CEO of Zimmer, which is the investment manager of ZP Utility Fund, ZP Offshore Utility Fund, and the Zimmer Entity.
The SPAC has applied for a Nasdaq listing under ZTU. Read more.
