Peridot Acquisition II, the second blank check company formed by Carnelian Energy Capital targeting businesses with a positive environmental impact, filed on Friday with the SEC to raise up to $300 million in an initial public offering.
The Houston, TX-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed price, Peridot Acquisition would command a market value of $375 million.
The company is led by Chairman Tomas Ackerman, who co-founded Carnelian Energy Capital and has been a Partner since its 2015 inception. He is joined by CEO and Director Preston Powell, who is a Managing Director at Carnelian, and CFO Stephen Wedemeyer, the current CFO of Carnelian. Carnelian's previous SPAC, Peridot Acquisition (PDAC.U; +30% from $10 offer price), raised $300 million in September 2020.
Peridot Acquisition II intends to target opportunities and companies that focus on environmentally sound infrastructure, industrial applications, and disruptive technologies that eliminate or mitigate GHG emissions and/or enhance resilience to climate change.
Peridot Acquisition II was founded in 2021 and plans to list on the NYSE under the symbol PDOT.U. UBS Investment Bank and Barclays are the joint bookrunners on the deal.
