Spectaire, a provider of solutions for customers to monitor, track and meet emissions targets via a patented micro-mass-spectrometer device, today announced a definitive agreement to go public via a business combination with Perception Capital II.
The proposed transaction values Spectaire at a pro forma enterprise valuation of approximately $203 million.
If the SPAC’s shareholders approve the deal, Spectaire is expected to list on the Nasdaq.
The transaction has no minimum cash condition and prior to signing the business combination agreement, Perception Capital entered into a forward purchase agreement with Meteora Capital for the full amount of cash in trust. That forward purchase agreement for an OTC equity prepaid forward transaction calls for the purchase of up to approximately 2.5 million Class A shares from holders who might elect to redeem in connection with the business combination.
Latham & Watkins is legal counsel to Spectaire. Skadden, Arps, Slate, Meagher & Flom is serving as legal counsel to Perception. Read more.
