Accretion Acquisition registered to offer 15 million units at $10 each. A unit consists of one share, one right, and one-half of one warrant. Each right is good for one-tenth of one share upon completion of an initial business combination. Whole warrants are exercisable for a share at $11.50 starting 30 days after a merger.
Accretion intends to acquire a business involved in the energy value chain, including upstream, water management, gas and vapor capture, energy transition related systems, midstream, oil and gas-related software, commodity risk management or oil and gas services.
The new SPAC is led by CEO and Director Brad Morse, founder and president of Fulcrum Energy Capital Funds.
EarlyBirdCapital and Stephens are joint book-running managers. The underwriters have an option to purchase up to an additional 2.25 million units to cover over-allotments, if any.
The SPAc has applied for a Nasdaq listing under ENERU. Read more.
