SDCL EDGE Acquisition, a blank check company formed by Sustainable Development Capital targeting energy efficiency plays, raised $175 million by offering 17.5 million units at $10. Each unit contains one share of common stock and one-half of a warrant, exercisable at $11.50. At the pricing, the company commands a market value of $219 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 plans to list on the NYSE under the symbol SEDA.U. Goldman Sachs, and BofA Securities acted as lead managers on the deal.
