EIP Acquisition I, a blank check company formed by Energy Impact Partners targeting the energy transition space, withdrew its plans for an initial public offering on Thursday. It had filed to raise $300 million by offering 30 million units at a price of $10, with each unit containing one share of common stock and one-half of a warrant, exercisable at $11.50.
The company was set to be led by CEO and Chairman Hans Kobler, the founder and Managing Partner of ESG-focused investment firm Energy Impact Partners. EIP Acquisition I had planned to target businesses at the forefront of energy transition towards the deep decarbonization of the economy.
The New York, NY-based company was founded in 2021 and had planned to list on the Nasdaq under the symbol EIPA.U. J.P. Morgan and Morgan Stanley were set to be the joint bookrunners on the deal.
