ESGEN Acquisition, a blank check company formed by Energy Spectrum targeting the energy and infrastructure value chain, filed on Tuesday with the SEC to raise up to $200 million in an initial public offering.
The Dallas, TX-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, ESGEN Acquisition would command a market value of $250 million.
The company is led by CEO and Director Andrea Bernatova, the former CFO of resiliency microgrid company Enchanted Rock Energy and midstream water infrastructure company Goodnight Midstream, and Chairman James Benson, a Founding Partner of Energy Spectrum, a venture firm with extensive investment experience across the energy infrastructure value chain.
ESGEN Acquisition plans to target opportunities in the North American energy and infrastructure value chain and contiguous industries that it believes will fundamentally change the current energy landscape by accelerating a shift to a low-carbon future, an objective it calls "Disruptive Decarbonization."
ESGEN Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol ESACU. Citi and Barclays are the joint bookrunners on the deal.
