Carbon capture and transformation company LanzaTech and AMCI Acquisition II today announced plans to merge at an implied $1.8 billion pro forma enterprise value.
The combined company is expected to receive gross proceeds of approximately $275 million, including AMCI’s $150 million of cash in trust (assuming no redemptions) and a committed PIPE of approximately $125 million from investors including AMCI, ArcelorMittal, BASF, K1W1, Khosla Ventures, Mitsui & Co., New Zealand Superannuation Fund, Oxy Low Carbon Ventures, Primetals Technologies, SHV Energy and Trafigura.
The deal is expected to be completed in the third quarter subject to shareholder approval. If approved, at closing LanzaTech Global common stock is expected to list on the Nasdaq under the ticker symbol LNZA.
Founded in 2005, LanzaTech in the news release said it combines synthetic biology and engineering to transform waste carbon into materials and high-value products representing a total addressable market opportunity of over $1 trillion, including sustainable fuels, fabrics and packaging. Read more.
