AltEnergy Acquisition closed its IPO of 23 million units, including an additional 3 million units issued to the underwriters exercising their over-allotment option.
Units list on the Nasdaq under AEAEU.
Simultaneously with the underwriter’s exercise of the overallotment option, the SPAC closed a private sale of 11.6 million private placement warrants to the sponsor, AltEnergy Acquisition Sponsor, 400,000 private placement warrants to an affiliate of the underwriter, at $1 per private warrant, generating $12 million.
The new SPAC intends to target businesses that are involved in renewable energy or related clean technology.
B. Riley was sole book-running manager for the offering. Read more.
