Alexandria Agtech/Climate Innovation Acquisition, a blank check company formed by Alexandria Real Estate Equities targeting agtech and climate innovation, withdrew its plans for an initial public offering on Wednesday. It had filed in March 2021 to raise $250 million by offering 25 million units at a price of $10, with each unit containing one share of common stock and one-quarter of a warrant.
The company was set to be led by CEO and Chairman Joel Marcus, co-founder and Executive Chairman of Alexandria Real Estate Equities (NYSE:ARE), and had planned to target market-leading agtech and climate innovation technologies.
The Pasadena, CA-based company was founded in 2021 and planned to list on the NYSE under the symbol AACE.U. Goldman Sachs was set to be the sole bookrunner on the deal.
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