Riverstone-backed SPAC Agriculture & Natural Solutions Acquisition prices $300 million IPO

Agriculture & Natural Solutions Acquisition, a blank check company backed by Riverstone and Impact Ag Partners focused on decarbonization in agriculture, raised $300 million by offering 30 million units at $10.

Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

The SPAC is led by CEO and Director Bert Glover, the founder and Managing Director of asset management firm Impact Ag, and Chairman David Leuschen, co-founder and Senior Managing Director of Riverstone, a private equity firm focused on oil & gas and renewables.

It plans to leverage its sponsors' platforms to identify, acquire and build a company whose principal effort is developing and advancing a platform that decarbonizes the traditional agriculture sector and enhances natural capital at scale.

Agriculture & Natural Solutions Acquisition is among the year's top three SPACs by deal size, alongside Ares Acquisition II (AACT.U; +4.5% from IPO) and Nabors Energy Transition II (NETDU; +1.1% from IPO).

The New York, NY-based company plans to list on the Nasdaq under the symbol ANSCU. Citi acted as sole bookrunner on the deal.