GoGreen Investments, a blank check company targeting the energy transition space, lowered the proposed deal size for its upcoming IPO on Monday.
The Houston, TX-based company now plans to raise $200 million by offering 20 million units at $10. The company had previously filed to offer 25 million units at the same price. Each unit now consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Each unit previously contained one-third of a warrant. At the revised deal size, GoGreen Investments will raise -20% less in proceeds than previously anticipated.
The company is led by CEO and Chairman John Dowd, who previously served as Portfolio Manager at Fidelity Research & Management, managing its energy- and natural resources-oriented sector funds. The company plans to target the clean/renewable energy ("energy transition") space, focusing on businesses that are actively engaged in creating and deploying technology, services, or other offerings that contribute to energy transition in the power generation, industrial, transportation, or other industries.
GoGreen Investments was founded in 2021 and plans to list on the NYSE under the symbol GOGN.U. Citi and Credit Suisse are the joint bookrunners on the deal.
