AMCI Acquisition II in an 8-K said it had added a third PIPE investor who will pour in $5 million to support the SPAC’s deal with LanzaTech, which shareholders approved late yesterday. This third private investment is an effort to satisfy the $230 million minimum closing cash condition, the SPAC said.
The total PIPE stands at $185 million, according to the filing.
While the vote to acquire the carbon capture company was overwhelmingly approved by AMCI’s stockholders, the SPAC did not disclose redemption figures in the 8-K and noted that closing conditions are not yet satisfied.
The SPAC late last week signed a forward purchase agreement with ACM ARRT H for the purchase of up to 10 million shares, including redeemed shares, prior to AMCI closing its merger with LanzaTech. Read more.
