SPAC Resources Acquisition files for a $150 million IPO, targeting the electrification and decarbonization value chains

Resources Acquisition, a blank check company targeting the electrification and decarbonization value chains, filed on Tuesday with the SEC to raise up to $150 million in an initial public offering.

The Cayman Islands-based company plans to raise $150 million by offering 15 million units at a price of $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, Resources Acquisition would command a market value of $188 million.

Resources Acquisition is led by Chairman Marie Pierre Bertrand Boulle, the CEO and director of Sun King Diamonds; CEO Martyn Buttenshaw, the Chairman of Atacama Copper; and CFO John van Eeghen, the founder of Reality Check Systems. The company plans to target the electrification transition and decarbonization value chains, focusing on businesses engaged in the extraction and production of metals, minerals, and chemicals that support the transition to a low carbon economy.

Resources Acquisition was founded in 2021 and plans to list on the NYSE under the symbol RAFU. Resources Acquisition filed confidentially on December 23, 2021. Citi and BofA Securities are the joint bookrunners on the deal.