Peridot Acquisition, a blank check company formed by Carnelian Energy Capital targeting businesses with a positive environmental impact, 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 CEO and Chairman Alan Levande, the former co-CEO of Park Energy and co-founder of Tenaska Capital Management. Director Tomas Ackerman is the co-founder of Carnelian Energy Capital and a former Managing Director at Natural Gas Partners. The company plans to target businesses that focus on environmentally sound infrastructure, industrial applications, and disruptive technologies that eliminate or mitigate GHG emissions and/or enhance resilience to climate change, which the company refers to as "Mitigation and Adaptation." Additionally, it is targeting businesses with enterprise values between $800 million and $2 billion.
Peridot Acquisition plans to list on the NYSE under the symbol PDAC.U. UBS Investment Bank, Barclays and Tudor, Pickering, Holt & Co. acted as lead managers on the deal.
