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Sustainable energy-focused SPAC ClimateRock files for a $75 million IPO

March 14, 2022

ClimateRock, a blank check company targeting the sustainable energy industry in OECD countries, filed on Monday with the SEC to raise up to $75 million in an initial public offering.

The London, United Kingdom-based company plans to raise $75 million by offering 7.5 million units at a price of $10. Each unit consists of one share of common stock and one warrant, exercisable at $11.50. At the proposed deal size, ClimateRock would command a market value of $95 million.

ClimateRock is led by Executive Chairman Charles Ratelband V, the founder and Managing Director of WindShareFund, RREG, and Climate Center Mariëndaal. He is joined by CEO and Director Per Regnarsson, whose current roles include Director of Gluon Capital and Founding Advisory Partner of Impactirr Alliance. The company plans to target the sustainable energy industry, including climate change, environment, renewable energy, and emerging clean technologies. It expects to focus on Organization for Economic Co-operation and Development (OECD) countries and regions with strong policy and regulatory support for the green energy transition.

ClimateRock was founded in 2021 and plans to list on the Nasdaq under the symbol CLRCU. The company filed confidentially on January 21, 2022. Maxim Group LLC is the sole bookrunner on the deal.