Silver Sustainable Solutions registered to offer 25 million units at $10 each. A unit consists of one share of , one-half of a warrant and one right to receive one-tenth of a share. The SPAC is backed by Guggenheim Partners.
Silver Sustainable has entered into a forward purchase agreement with Avenue Sustainable Solutions Fund, under which Avenue may purchase up to 5 million shares and 2.5 million warrants.
The new SPAC is focused on companies that develop, use or sell clean economy technologies.
CEO and Chairman Jonathan Silver led the Loan Program Office at the U.S. Department of Energy, the federal government’s $40 billion clean energy investment fund, during the Obama administration. That fund, which underwrote and invested in a wide range of technologies, including, solar, wind, geothermal, biofuels and nuclear power and advanced automotive technology, was, and remains today, the largest fund of its kind in the world. Silver is a senior advisor at Guggenheim Securities.
Guggenheim Securities is sole book-running manager.
The SPAC has applied to list on the Nasdaq under the symbol SSSCU. Read more.
