Project Energy Reimagined Acquisition priced its IPO of 25 million units at $10 each. The SPAC had initially planned to offer 30 million units, according to its S-1 filing in March.
Units begin trading today on the Nasdaq under PEGRU. Each consists of one Class A ordinary share and one-half of a warrant.
After the securities begin separate trading, shares and warrants are expected to list under PEGR and PEGRW.
The offering is expected to close Nov. 2.
The company intends to focus its search on high-potential ESG targets within the advanced renewable energy “Grid 2.0” value-chain.
J.P Morgan and BofA Securities are joint book-running managers for the offering. The underwriters have the option to purchase up to an additional 3.7 million units to cover any over-allotments. Read more.
