Energy SPAC Energem Corp. prices $100 million IPO

Energem Corp., a blank check company targeting the energy value chain in the Southeast Asia and APAC region, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one warrant, exercisable at $11.50.

The company is led by CEO and Director Swee Guan Hoo, who currently serves as Executive Director of investment holding company BCM Alliance Berhad, and Chairman Kok Seong Wong, who currently serves as Managing Partner in Hasnan THL Wong & Partners. The company plans to target the energy value chain in the South East Asia and Asia Pacific region, focusing on opportunities aligned with energy growth transition and sustainability themes.

Energem Corp. plans to list on the Nasdaq under the symbol ENCPU. EF Hutton acted as sole bookrunner on the deal.