GFJ ESG Acquisition I SE, a SPAC listing on the Frankfurt Stock Exchange, today entered into a definitive business combination agreement with Learnd Limited, a provider of energy management solutions that uses its technology platform to help customers reduce energy costs and carbon emissions within their buildings.
The transaction values Learnd at a pre-money equity value of EUR 99 million (US $99 million). The deal is expected to close by mid-January 2023, and shares of the combined company will be listed on the Frankfurt Exchange. In addition to the approximately EUR 150 million held in the SPAC’s trust (less any potential redemptions), the company is raising additional capital in the form of a PIPE at a price of EUR 10 per public share and redemption backstop commitments. Read more.
