Prospect Energy Holdings in an amended S-1 said it now plans to offer 7.5 million units at $10 each, down from the 30 million units initially registered with the SEC in May.
A unit will still consist of one share and a warrant.
The new SPAC said it will search for a target business in Asia Pacific, excluding China (and emphasis on Canada and Australia), mainly companies engaged in the clean energy industry, concentrating on the utilization of “clean coal” or other evolving segments in the clean energy ecosystem, particularly the use of carbon, hydrogen and renewable energy.
Prospect Energy is led by CEO, Chairman and Executive Director Jeffrey Jing Xie, who has served as the senior advisor of Global Strategy Committee and CIO, North America and Pacific Rim Region of Standard Financial Group, USA since 2000. Xie was instrumental in starting the Asian business from obtaining the banking license to expanding its bank branches in Hong Kong while serving a large number of institutional investors and high net worth individual clients. From 1994 to 2020, Xie served as director and senior vice president of Hong Kong Sinic Financial Group.
EF Hutton is sole bookrunner for the offering.
The SPAC intends to apply for a Nasdaq listing under the symbol AMGSU. Read more.
