Switchback Energy Acquisition Corp, a blank check company targeting the energy industry in North America, filed on Monday with the SEC to raise up to $300 million in an initial public offering.
The Dallas, TX-based company plans to raise $300 million by offering 30 million units at a price of $10. At $10, Switchback Energy Acquisition Corp would command a market value of $375 million. Each unit consists of one share of common stock and one-third of one warrant to purchase one share of common stock at $11.50 per share.
Switchback Energy Acquisition Corp was founded in 2019 and it plans to list on the NYSE under the symbol SBE.U. Goldman Sachs and Citi are the joint bookrunners on the deal.
