ArcLight Clean Transition Corp., a blank check company formed by ArcLight Capital Partners targeting a renewable energy business, filed on Friday with the SEC to raise up to $300 million in an initial public offering.
The Boston, MA-based company plans to raise $300 million by offering 30 million units at a price of $10. Units consist of one share of common stock and one-half of one warrant, exercisable at $11.50. At the proposed deal size, ArcLight Clean Transition Corp. would command a market value of $375 million
Chairman Daniel Revers serves as a Managing Partner of ArcLight Capital Partners, which he founded in 2001.
The company was founded in 2020 and plans to list on the Nasdaq under the symbol ACTCU. ArcLight Clean Transition Corp. filed confidentially on August 10, 2020. Citi and Barclays are the joint bookrunners on the deal.
