Freestone Acquisition in a letter to the SEC today said it will withdraw a planned offering of 20 million units, initially registered with the regulator in May 2021.
The SPAC had planned to target “companies that facilitate the energy transition, improve the efficiency of energy ecosystems, and reduce emissions, such as companies that specialize in disruptive infrastructure, manufacturing, support services, or technologies focused on reducing the environmental impact of current energy use or supporting new sources of energy that are more sustainable.”
Freestone is led by CEO and Co-President Alan Boswell, who most recently served as CEO of Southcross Holdings, an energy infrastructure company.
The SPAC had planned to list on the Nasdaq with Barclays and Goldman Sachs tapped as joint book-running managers. Read more.
