Clean Earth Acquisitions priced its initial public offering of 20 million units at $10 each. The units list on the Nasdaq and began trading today under the ticker symbol CLINU. Each consists of one share of Class A common stock, one right to receive one-tenth of a share and one-half of a warrant.
When the securities begin separate trading, shares, rights and warrants are expected to list under the symbols CLIN, CLINR and CLINW, respectively.
The offering is expected to close Feb. 28.
The SPAC intends to focus on businesses in the clean and renewable energy industry with an enterprise value of approximately $800 million to $1.5 billion, with particular emphasis on businesses that participate in the global energy transition ecosystem and facilitate the way that energy is produced, stored, transmitted, distributed and consumed, all while reducing greenhouse gas emissions.
Citigroup Global Markets is sole book-running manager for the offering. Jones Trading Institutional Services is co-manager. Read more.
