Northern Genesis Acquisition, a blank check company targeting an environmentally sustainable business, raised $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by President Michael Hoffman, the founder of Stone Capital Partners, a private financing firm focused on energy infrastructure; Chairman Paul Dalglish, the VP of Operations for utility services company JANA Corporation and former President of Hibernia Solutions; and Vice Chairman Ian Robertson, the former CEO of Algonquin Power & Utilities and co-founder of predecessor APCI. The company plans to target businesses with strong environmental, social, and governance profiles across industries including energy, transportation and electric mobility, data and communication, agriculture, community services, and training.
Northern Genesis Acquisition plans to list on the NYSE under the symbol NGA.U. Raymond James and EarlyBirdCapital acted as lead managers on the deal.
