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Investment firm's SPAC SDCL EDGE Acquisition decreases deal size by 30% ahead of $175 million IPO

July 16, 2021

SDCL EDGE Acquisition, a blank check company formed by Sustainable Development Capital targeting energy efficiency plays, lowered the proposed deal size and increased the warrants per unit for its upcoming IPO on Friday.

The New York, NY-based company now plans to raise $175 million by offering 17.5 million units at $10, with each unit containing one share of common stock and one-half of a warrant, exercisable at $11.50. The company had previously filed to offer 25 million units at the same price, with each unit containing one-third of a warrant.  At the revised deal size, SDCL EDGE Acquisition will raise 30% less in proceeds than previously anticipated.

The company is led by Co-CEO and Chairman Jonathan Maxwell, the founder and CEO of London-based investment firm Sustainable Development Capital, and Co-CEO Michael Feldman, a former Managing Director and Head of Infrastructure for Sixth Street Partners. The company plans to target the energy efficiency, decentralized energy, and clean energy for low carbon transport infrastructure sectors.

SDCL EDGE Acquisition was founded in 2021 and It plans to list on the NYSE under the symbol SEDA.U. Goldman Sachs, and BofA Securities are the joint bookrunners on the deal.