Mobility tech SPAC Ascendant Mobility Acquisition I lowers deal size by 14% ahead of $300 million IPO

Ascendant Mobility Acquisition I, a blank check company targeting the electric vehicle, energy storage, and mobility tech space, lowered the proposed deal size for its upcoming IPO on Friday.

The New York, NY-based company now plans to raise $300 million by offering 30 million units at $10. The company had previously filed to offer 35 million units at the same price. Each unit now consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Each unit previously contained one-third of a warrant. At the revised deal size, Ascendant Mobility Acquisition I will raise -14% less in proceeds than previously anticipated.

The company is led by Co-CEO and Director Peter Bardenfleth-Hansen, whose previous roles include Chief Growth Officer of StreetScooter and Director of EMEA Business Development at Tesla (Nasdaq: TSLA), and Co-CEO and Director Jochen Rudat, who previously served as Chief Sales Officer of electric luxury brand Automobili Pininfarina and Director of Central Europe at Tesla. The company plans to target the electric vehicle, energy storage and distribution, or mobility technologies ecosystem.

Ascendant Mobility Acquisition I was founded in 2021 and plans to list on the NYSE under the symbol AMOB.U. Goldman Sachs is the sole bookrunner on the deal.