SDCL EDGE Acquisition, a blank check company formed by Sustainable Development Capital, filed on Friday 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, SDCL EDGE Acquisition would command a market value of $313 million.
The company is led by Co-CEO and Chairman Jonathan Maxwell, the founder and CEO of London-based investment firm Sustainable Development Capital, and Co-CEO Michael Feldman, a former Managing Director and Head of Infrastructure for Sixth Street Partners. The company plans to target the energy efficiency, decentralized energy, and clean energy for low carbon transport infrastructure sectors.
SDCL EDGE Acquisition was founded in 2021 and plans to list on the NYSE under the symbol SEDA.U. Goldman Sachs and BofA Securities are the joint bookrunners on the deal.
