AleAnna Energy and Swiftmerge Acquisition today announced a definitive merger agreement. Terms call for the SPAC to issue 65,098,476 shares at $10 each.
The business combination is expected to close in the third or fourth quarter. AleAnna will be on the hook for a $1 million termination fee if Swiftmerge validly calls off the deal.
Established in 2007, AleAnna operates strategically within Italy, a nation that heavily relies on imports for most of its natural gas needs. AleAnna’s strategic vision is to become a prominent domestic producer of both conventional natural gas and renewable natural gas to provide a reliable natural gas supply for Italy and the broader European region.
Greenberg Traurig is serving as legal counsel to Swiftmerge. Haynes and Boone is legal counsel to AleAnna.
Swiftmerge in March terminated a merger agreement with HDL Therapeutucs. The decision was mutual and no termination fee or other payment was due to either party. Read more.
