Alussa Energy Acquisition, a blank check company targeting the energy sector, filed on Friday with the SEC to raise up to $225 million in an initial public offering.
The SPAC plans to raise $225 million by offering 22.5 million units at a price of $10. Each unit consists of one share of common stock and one half of one warrant to purchase common stock at a price of $11.50 per share. Insiders intend to purchase $11 million worth of units in the offering. At $10, Alussa Energy Acquisition would command a market value of $281 million.
Sponsor Alussa Energy (20% post-IPO stake) is an affiliate of the SPAC's CEO Daniel Barcelo, who previously served as a portfolio manager at Moore Capital Management. Chairman James Musselman is the founder and CEO of Caelus Energy, and previously served as founding partner, CEO, and Chairman of Kosmos Energy from 2003 to 2010.
Alussa Energy Acquisition was founded in 2019 and plans to list on the NYSE under the symbol ALUSU. BTIG is the sole bookrunner on the deal.
