ClimateRock, a blank check company targeting the sustainable energy industry in OECD countries, raised $75 million by offering 7.5 million units at $10. Each unit consists of one share of common stock, one-half of one warrant exercisable at $11.50, and one-tenth of a right to receive a share of common stock following an acquisition.
The London, UK-based SPAC is led by Executive Chairman Charles Ratelband V, the founder and Managing Director of sustainable investment firm WindShareFund. He is joined by CEO and Director Per Regnarsson, whose current roles include Director of Gluon Capital and Founding Advisory Partner of Impactirr Alliance.
The SPAC plans to target the sustainable energy industry, including climate change, environment, renewable energy, and emerging clean technologies. It expects to focus on Organization for Economic Co-operation and Development (OECD) countries and regions with strong policy and regulatory support for the green energy transition.
ClimateRock plans to list on the Nasdaq under the symbol CLRCU. Maxim Group LLC acted as sole bookrunner on the deal.
