CE Energy Acquisition, a blank check company targeting the energy industry in the Americas, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
The Charleston, WV-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and three-quarters of a warrant, exercisable at $11.50. At the proposed deal size, CE Energy Acquisition would command a market value of $125 million.
The company is led by CEO and Chairman Ryan Cunningham, the founder, President, and Operational Partner of Cunningham Energy LLC, an independent producer of oil and gas. The company plans to target the energy industry, focusing on oil and gas exploration and production or midstream businesses in North, Central, or South America. It may also target renewable energy businesses.
CE Energy Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol CEACU. Maxim Group LLC is the sole bookrunner on the deal.
