Power & Digital Infrastructure Acquisition II registered with the SEC to offer 25 million units, each consisting of one share and one-half of a warrant.
The SPAC will focus on a prospective target business in North America within the renewable and transition energy sector, with emphasis on growth opportunities that are driving the electrical power grid transition, both on the electrical supply and on the demand side.
Chairman Theodore Brombach is a founding partner of XMS Capital Partners. Since December 2020, Brombach has also served as chairman of XPDI I. He is CEO of XA Investments, an alternative asset management firm he co-founded in 2016. Brombach is also president, CEO and a Trustee of XAI Octagon Floating Rate & Alternative Income Term Trust, a closed end fund investing in alternative credit investments.
Brombach’s first Power & Digital Infrastructure SPAC is in a pending merger with blockchain hosting and digital asset mining company Core Scientific.
Barclays and BofA are joint book-running managers of the offering. The underwriters have an option to purchase up to 3.75 million additional units to cover over-allotments, if any.
The new SPAC said it will apply to list on the Nasdaq under XPDBU. Read more.
