Decarbonization Plus Acquisition V filed with the SEC to raise $275 million through an IPO of 27.5 million units. A unit consists of one Class A ordinary share and one-half of a warrant. The SPAc is sponsored by Riverstone.
Like its predecessors, the new SPAC will target companies engaged in global decarbonization, including the energy and agriculture, industrials, transportation and commercial and residential sectors.
The SPAC is led by CEO and Director Erik Anderson, who founded and is CEO of WRG, a collaboration of investment firms providing integrated capital solutions to the global innovation economy.
Citigroup and Crdit Suisse are joint book-running managers of the offering. The underwriters have an option to purchase up to an additional 4.125 million units to cover over-allotments, if any.
The SPAC intends to apply for a listing on the Nasdaq under DCREU. Read more.