Renewable energy SPAC Enphys Acquisition files for a $250 million IPO

Enphys Acquisition, a blank check company targeting renewable energy businesses in Ibero-America, filed on Thursday with the SEC to raise up to $250 million.

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. Certain investors have indicated on up to 50% of units in the offering. At the proposed deal size, Enphys Acquisition would command a market value of $322 million.

The company is led by CEO and Director Jorge de Pablo, the founder and Managing Partner of LAIG Investments, an investment company focused on the energy and mobility sectors across Ibero-America, and Chairman Carlos Guimarães, the Chairman of LAIG. The company plans to target businesses which predominantly operate in Ibero-America and whose business strategy is aligned with energy transition and sustainability themes, in particular renewable energy.

Enphys Acquisition was founded in 2021 and plans to list on the NYSE under the symbol NFYS.U. The company filed confidentially on March 11, 2021. Credit Suisse and BTIG are the joint bookrunners on the deal.