ESGEN Acquisition (ESACU) has priced its initial public offering (IPO) of 24M units at $10.00/unit, for an anticipated gross proceeds of $240M.
The offering was upsized from an original 20M unit offering to a 24M unit offering.
Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50/share.
The units are expected to start trading on the Nasdaq Global Market under the ticker symbol "ESACU" from October 20, 2021. The Class A ordinary shares and warrants are expected to be listed on The Nasdaq Global Market under the symbols "ESAC" and "ESACW," respectively.
ESGEN is a special purpose acquisition company (SPAC) led by Chief Executive Officer Andrejka Bernatova and Chief Financial Officer Nader Daylami. It is affiliated with Dallas-based venture capital firm Energy Spectrum Capital. The SPAC plans to target opportunities in the North American energy and infrastructure value chain and contiguous industries.