CENAQ Energy priced its IPO of 15 million units at $10 per unit.
The units begin trading on the Nasdaq today under CENQU. Each consists of one share Class A common stock and three-quarters of one warrant, with whole warrants exercisable at $11.50 per share. After the securities begin separate trading, shares and warrants are expected to list under CENQ and CENQW.
Imperial Capital and I-Bankers are joint book-runners for the offering. The underwriters have an option to purchase up to an additional 2.25 million units at the IPO price to cover over-allotments, if any.
The SPAC is focused broadly on the energy industry in North America.
The SPAC is led by Chairman John Connally III, a founder of Texas South Energy and GulfSlope Energy, and of Nuevo Energy, Endeavor International, Pure Energy Group, and Pure Gas Partners. CEO J. Russell Porter was previously CEO of Freedom Oil & Gas. Read more.