Ascendant Mobility Acquisition I, a blank check company targeting the electric vehicle, energy storage, and mobility tech space, filed on Monday with the SEC to raise up to $350 million in an initial public offering.
The New York, NY-based company plans to raise $350 million by offering 35 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Ascendant Mobility Acquisition I would command a market value of $438 million.
The company is led by Co-CEO and Director Peter Bardenfleth-Hansen, whose previous roles include Chief Growth Officer of StreetScooter and Director of EMEA Business Development at Tesla (Nasdaq: TSLA), and Co-CEO and Director Jochen Rudat, who previously served as Chief Sales Officer of electric luxury brand Automobili Pininfarina and Director of Central Europe at Tesla. The company plans to target the electric vehicle, energy storage and distribution, or mobility technologies ecosystem.
Ascendant Mobility Acquisition I was founded in 2021 and plans to list on the NYSE. It has not selected a symbol yet (RC ticker: AMAU.RC). Goldman Sachs is the sole bookrunner on the deal.
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