- Energem (ENCPU) priced its $100M IPO which consists of 10M units at $10/unit; units will be listed on Nasdaq and is expected to commence trading today.
- Each unit consists of one Class A ordinary shares and one redeemable warrant entitling the holder thereof to purchase one Class A ordinary share at $11.50/share.
- Underwriters granted 45-day option to purchase up to an additional 1.5M units.
- Post trading commences, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols ENCP and ENCPW, respectively.
- Offer is expected to close on Nov.18.
- While the company may pursue an initial business combination target in any business or industry, it intends to focus on the energy industry.