CBRE Acquisition Holdings filed a definitive proxy statement and prospectus with the SEC outlining its proposed business combination with clean electrification company Altus Power. The proxy has been declared effective and a shareholder vote on the $1.6 billion deal is set for Dec. 6.
Announced in July, the transaction is anticipated to generate gross proceeds of up to approximately $678 million of cash, assuming no redemptions. Proceeds include a $275 million fully-committed common stock PIPE anchored by CBRE Group and existing investors, including Altus Power management and Blackstone Credit, as well as new investors, including ValueAct Capital, Liberty Mutual Investments and other institutional investors. Read more.
