CH4 Natural Solutions Acquisition, a blank check company backed by Impact Ag, Riverstone's David Leuschen, and Overview Capital's Lauren Singer, lowered the proposed deal size for its upcoming IPO on Friday.
The New York, NY-based company now plans to raise $200 million by offering 20 million units at $10. The company had previously filed to offer 30 million units at the same price. Each unit now contains one share of common stock and one-half of one warrant exercisable at $11.50. Units previously contained one-fourth of a warrant. At the midpoint, CH4 Natural Solutions Acquisition will raise 33% less in proceeds than previously anticipated.
CH4 Natural Solutions Acquisition is led by CEO and Chairman David Leuschen, co-founder and Senior Managing Director of private equity firm Riverstone, and CFO and CAO Arthuros Mangriotis, a former investment analyst at Jericho Capital Asset Management. The SPAC's sponsor group includes Leuschen, Impact Ag, and Lauren Singer, the co-founder and Managing Partner of climate-focused venture fund Overview Capital. The SPAC plans to target businesses with significant real-asset footprints that may benefit from accelerated methane mitigation initiatives at scale, likely in the agriculture and traditional energy sectors.
CH4 Natural Solutions Acquisition was founded in 2024. It plans to list on the NYSE under the symbol MTNE.U. Santander is the sole bookrunner on the deal.
