Kadem Sustainable Impact Corp, a blank check company targeting electric vehicles, energy storage and distribution, and mobility technology, raised $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Tenor Opportunity Master Fund and Moab Partners had each indicated on up to 9.9% of units in the offering.
The company is led by Chairman Raymond Mabus Jr., the Founding Principal and CEO of The Mabus Group, who previously served as the 75th US Secretary of the Navy. He is joined by CEO and Director Charles Gassenheimer, the founder and President of private equity firm Carnegie Hudson Resources. The company plans to target the electric vehicle, energy storage and distribution, or mobility technologies ecosystem.
Kadem Sustainable Impact Corp plans to list on the Nasdaq under the symbol KSICU. BMO Capital Markets acted as a lead manager on the deal.
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