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Energy SPAC Dynamix Corp files for a $150 million IPO

July 8, 2024

Dynamix Corp, a blank check company targeting the energy and power value chain, filed on Monday with the SEC to raise up to $150 million in an initial public offering.

The remote-first company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Dynamix Corp would command a market value of $200 million.

Dynamix is led by CEO and Chair Andrea Bernatova, the former CFO of resiliency microgrid company Enchanted Rock Energy and midstream water infrastructure company Goodnight Midstream. It plans to target the energy and power value chain, focusing on businesses in the energy transition, oil and gas, and power sectors that support the transition towards a low-carbon emitting future.

Management's previous SPAC, ESGEN Acquisition, completed its combination with residential solar provider Sunergy Renewables in March 2024, forming Zeo Energy (ZEO; -75% from $10 offer price).

Dynamix Corp was founded in 2024 and plans to list on the Nasdaq but has not selected a symbol yet (RC ticker: DMIXU.RC). Cohen & Company Securities is the sole bookrunner on the deal.