ESGEN Acquisition, a blank check company formed by Energy Spectrum Capital targeting the energy and infrastructure value chain, raised $240 million by offering 24 million units at $10.
The SPAC originally filed to offer 20 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.
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.
The Dallas, TX-based SPAC 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 plans to list on the Nasdaq under the symbol ESACU. Citi and Barclays acted as joint bookrunners on the deal.
