CleanTech Acquisition said its registration statement on a planned merger with Nauticus Robotics has been declared effective by the SEC.
The SPAC’s shareholders are scheduled to vote on the deal Sept. 6. The deal carries a pro forma equity value of $561 million.
Houston-based Nauticus develops subsea and surface robotic services using autonomy software.
Estimated cash proceeds are expected to consist of the SPAC’s approximately $174.2 million of cash in trust (assuming no redemptions) and approximately $73 million from a fully committed PIPE anchored by existing investors. Proceeds from the PIPE alone are sufficient to cover the minimum cash requirement for closing the transaction, the companies said when the deal was announced in January. Read more.
