Activate Permanent Capital registered to offer 25 million units. A unit consists of one share of our Class A common stock and one-third of one redeemable warrant, with whole warrants redeemable at $11.50.
The new SPAC will seek to acquire a company in the Energy Transition, Smart Mobility, Sustainable Food Chain or Intelligent Automation sectors.
Chairman David Lincoln has been an investor in venture and growth equity for over 25 years, and has founded and led multiple firms in the energy and clean technology sectors. He is a managing director of Activate Capital, an affiliate of the SPAC’s sponsor and an investment firm dedicated to growth technology companies in sustainable energy, transportation, and industrial innovation.
BofA Securities, Citigroup and Nomura are managers of the offering. The underwriters have an option to purchase up to 3.75 million additional units to cover any over-allotments.
The SPAC has applied for a NYSE listing under APCC.U. Read more.