Activate Permanent Capital in a letter to the SEC today withdrew its planned offering of 25 million units.
The SPAC had planned to pursue an acquisition in the Energy Transition, Smart Mobility, Sustainable Food Chain or Intelligent Automation sectors.
Chairman David Lincoln is a managing director of Activate Capital, an affiliate of the SPAC’s sponsor and an investment firm dedicated to growth technology companies in sustainable energy, transportation, and industrial innovation.
BofA Securities, Citigroup and Nomura were set to manage the offering.
The SPAC had applied to list on the NYSE. Read more.
