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Alternative energy SPAC AltEnergy Acquisition files for a $200 million IPO

August 6, 2021
AEAEU

AltEnergy Acquisition, a blank check company formed by AltEnergy LLC targeting the alternative energy sector, filed on Friday with the SEC to raise up to $200 million.

The New York, NY-based company plans to raise $200 million by offering 20 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, AltEnergy Acquisition would command a market value of $250 million.

The company is led by CEO and Chairman Russell Stidolph, the founder and Managing Director of AltEnergy, LLC a private equity firm focused on alternative energy investing. The company plans to target businesses involved in renewable energy or related clean technology, which it refers to as the alternative energy sector, focusing on opportunities it believes will result from the ongoing transformation of the energy ecosystem and the macro trends related to electrification and decarbonization.

AltEnergy Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol AEAEU. B. Riley Securities is the sole bookrunner on the deal.