ST Energy Transition I registered today to offer 25 million SAILSM securities at $10 each.
Each Stakeholder Aligned Initial Listing consists of a share and half a warrant.
The SPAC plans to pursue opportunities that contribute in positive ways towards energy transition and clean energy technology.
Chairman John Fredriksen is a director of Golden Ocean Limited and chairman, president and a director of Frontline.
Morgan Stanley is sole book-running manager. DNB Markets is joint lead manager. The underwriters may choose to purchase up to an additional 3.75 million SAILSM securities to cover any over allotments.
The SPAC intends to apply for a listing on the NYSE under STET.U. Read more.
