ESM Acquisition to Dissolve March 10

Pontem in January said it it had signed a non-binding letter of intent for a potential business combination with a target company operating a multinational industrial technology business. The company was never identified. Pontem said at the time Pontem it had teamed up with an affiliate of a premier alternative asset manager to support the transaction, which the SPAC said would increase transaction certainty.

HNR Acquisition has a deal in hand with Dallas-based Pogo Resources, which acquires, develops and exploits oil and gas assets in Texas’ Permian Basin.

The deal was announced last July at an equity value of up to $100 million. The target is a provider of flywheel-based power boosting solutions for the EV charging infrastructure market.