AMCI Acquisition II, the second blank check company formed by AMCI Group targeting decarbonization and sustainability solutions, lowered the proposed deal size for its upcoming IPO on Monday.
The Greenwich, CT-based company now plans to raise $150 million by offering 15 million units at $10. The company had previously filed to offer 17.5 million units at the same price. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the revised deal size, AMCI Acquisition II will raise -14% less in proceeds than previously anticipated.
The company is led by CEO Nimesh Patel and President and Director Brian Beem, both of whom currently serve as Managing Directors and Co-Heads of Investments at AMCI Group. AMCI Group co-founder Hans Mende serves as a Director. The company plans to target businesses that provide decarbonization and/or sustainability solutions to the global industrial complex.
Mende's previous SPAC, AMCI Acquisition, went public in November 2018 and completed its combination with fuel cell technology company Advent Technologies Holdings (ADN; +1% from $10 offer price) this past February.
AMCI Acquisition II was founded in 2021 and plans to list on the Nasdaq under the symbol AMCIU. Evercore ISI is the sole bookrunner on the deal.
