CleanTech Acquisition, a blank check company targeting the CleanTech and ClimateTech sectors, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The New York, NY-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-half of a warrant, exercisable at $11.50. At the proposed deal size, CleanTech Acquisition would command a market value of $313 million.
The company is led by CEO and Director Eli Spiro, the co-founder and CEO of boutique investment banking firm Axxcess Capital Partners, and Chairman Jon Najarian, the co-founder of individual investing education platform Market Rebellion. The company plans to target the CleanTech or ClimateTech sectors, focusing on businesses with disruptive mission driven technology and sustainable competitive advantages, among other characteristics.
CleanTech Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol CTAQU. The company filed confidentially on March 8, 2021. Chardan Capital Markets is the sole bookrunner on the deal.
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