Sustainable Opportunities Acquisition, a blank check company targeting an environmentally sustainable industrial business, raised $300 million by offering 30 million units at $10. Units consist of one share of common stock and one-half of a warrant exercisable at $11.50.
The SPAC intends to focus its search for a business that exists within industries that benefit from strong Environmental, Social and Governance (ESG) profiles, specifically businesses that have existing environmental sustainability practices or that may benefit operationally and economically from its management team’s experience.
Sustainable Opportunities Acquisition plans to list on the NYSE under the symbol SOAC.U. Citi acted as lead manager on the deal.
