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SPAC Alexandria Agtech/Climate Innovation Acquisition files for a $250 million IPO

March 11, 2021

Alexandria Agtech/Climate Innovation Acquisition, a blank check company formed by Alexandria Real Estate Equities targeting agtech and climate innovation, filed on Thursday with the SEC to raise up to $250 million in an initial public offering.

The Pasadena, CA-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, Alexandria Agtech/Climate Innovation Acquisition would command a market value of $313 million.

The company is led by CEO and Chairman Joel Marcus, co-founder and Executive Chairman of Alexandria Real Estate Equities (NYSE:ARE), and plans to target market-leading agtech and climate innovation technologies.

Alexandria Agtech/Climate Innovation Acquisition was founded in 2021 and plans to list on the NYSE under the symbol AACE.U. Goldman Sachs is the sole bookrunner on the deal.