Prospect Energy Holdings, a blank check company targeting the clean energy industry in APAC and Canada, withdrew its plans for an initial public offering on Monday. It had filed to raise $75 million by offering 7.5 million units at $10, with each unit containing one share of common stock and one warrant, exercisable at $11.50.
The company was set to be led by CEO and Chairman Jeffrey Xie, the Senior Advisor of the Global Strategy Committee and CIO of the North America and Pacific Rim Region for Standard Financial Group. The company planned to target the clean energy industry in Asia Pacific (excl. China) and Canada, with an emphasis on Canada and Australia. It planned to focus on businesses in "clean coal" or other evolving segments in the clean energy ecosystem.
The Corona, CA-based company was founded in 2023 and planned to list on the Nasdaq under the symbol AMGSU. EF Hutton was set to be the sole bookrunner on the deal.
