Renewable energy SPAC Enphys Acquisition prices upsized $300 million IPO

Enphys Acquisition, a blank check company targeting renewable energy businesses in Ibero-America, raised $300 million by offering 30 million units at $10. The company offered 5 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Certain investors had indicated on $200 million worth of units in the offering.

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 plans to list on the NYSE under the symbol NFYS.U. Credit Suisse, and BTIG acted as joint bookrunners on the deal.