CleanTech Acquisition registered with the SEC to raise up to $250 million through an offering of 25 million units. Each consists of one share of common stock and one-half of a warrant; whole warrants exercisable at $11.50.
Chardan Capital Markets is sole bookrunning manager of the offering. The underwriters have a 45-day option to purchase up to an additional 3.75 million units to cover any over-allotments.
CleanTech said it will focus on companies working to shift the world away from carbon dependency.
The new SPAC is led by CEO and Director Eli Spiro, who is CEO of Axxcess Capital Partners, a boutique investment banking firm he co-founded in 2010.
The SPAC intends to apply for a Nasdaq listing under CTAQU. Read more.
