ClimateRock in a regulatory filing announced a business combination agreement with its sponsor’s wholly-owned subsidiary GreenRock for 44,685,000 shares, or nearly $447 million. Closing conditions include ClimateRock having at least $15 million in available cash.
GreenRock agreed that it will not have any right, title, interest or claim of any kind in or to any monies in ClimateRock’s trust account held for its public shareholders, and has agreed not to, and waived any right to, make any claim against the trust account.
ClimateRock raised $79 million in a May 2022 IPO. The SPAC last month announced it terminated a deal with E.E.W. Eco Energy World, an independent global developer of utility scale solar photovoltaic projects. That deal had an equity value of $650 million. Read more.
