Glenfarne Merger, a blank check company formed by Glenfarne Group targeting energy transition and electrification, filed on Wednesday with the SEC to raise up to $250 million in an initial public offering.
The New York, NY-based company plans to raise $250 million by offering 25 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 deal size, Glenfarne Merger would command a market value of $320 million.
The company is led by CEO and Chairman Brendan Duval, the founder and Managing Partner of Glenfarne Group, an energy and infrastructure development and management firm. The company plans to target the energy transition and electrification sector in the Americas.
Glenfarne Merger was founded in 2020 and plans to list on the Nasdaq under the symbol GGMCU. The company filed confidentially on August 5, 2020. Mizuho Securities is the sole bookrunner on the deal.
