FPA Energy Acquisition, a blank check company targeting the waste-to-energy industry, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. The company had previously filed for an IPO in May 2023, but withdrew the offering this past August.
The Alpharetta, GA-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination. At the proposed deal size, FPA Energy Acquisition would command a market value of $134 million.
FPA Energy Acquisition is led by CEO and Chairman Christopher Yurko, a former VP of Greenwave Energy whose current roles include Managing Director and CRO of Forsa Power Alliance, and Acting CFO Rosario Fava, the former Global Head and VP of Gasification and Biofuels for Shell Oil. The company plans to target the waste-to-energy industry, focusing on businesses in North, Central, and South America with enterprise values between $300 million and $1 billion.
FPA Energy Acquisition was founded in 2022 and plans to list on the Nasdaq under the symbol FPAQU. I-Bankers Securities and IB Capital are the joint bookrunners on the deal.
