ClimateRock Announces Pricing of $75.0 Million Initial Public Offering
United Kingdom, April 27, 2022 (GLOBE NEWSWIRE) — ClimateRock (the “Company”), a newly organized blank check company incorporated as a Cayman Islands exempted company and led by Chairman, Charles Ratelband V and CEO, Per Regnarsson, announced today the pricing of its initial public offering of 7,500,000 units at an offering price of $10.00 per unit, with each unit consisting of one Class A ordinary proportion, one-half (1/2) of one redeemable warrant and one right to receive one-tenth (1/10) of one Class A ordinary proportion. Each whole warrant entitles the holder thereof to buy one Class A ordinary proportion, and each ten (10) rights entitle the holder thereof to receive one Class A ordinary proportion at the closing of a business combination. The exercise price of the warrants is $11.50 per whole proportion. The units are expected to trade on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “CLRCU” beginning on April 28, 2022. Once the securities comprising the units begin separate trading, the Class A ordinary shares, warrants and rights will be traded on Nasdaq under the signs “CLRC,” “CLRCW,” and “CLRCR,” respectively. The offering is expected to close on May 2, 2022, unprotected to customary closing conditions.
Maxim Group LLC is acting as the only book-running manager for the offering. The Company has granted the underwriters a 45-day option to buy up to 1,125,000 additional units at the initial public offering price to cover over-allotments, if any.
A registration statement on Form S-1 (File No. 333-263542) relating to the securities to be sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on April 27, 2022. The offering is being made only by method of a prospectus. When obtainable, copies of the prospectus relating to this offering may be obtained from Maxim Group LLC, 300 Park method, 16th Floor, New York, NY 10022, or by accessing the SEC’s website, www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ClimateRock is a newly organized blank check company incorporated as a Cayman Islands exempted company for the purpose of entering into a merger, proportion exchange, asset acquisition, proportion buy, reorganization or similar business combination with one or more businesses in any industry or geographic location, but intends to focus on acquiring a target within the sustainable energy industry in the Organization for Economic Co-operation and Development countries, including climate change, ecosystem, replaceable energy and emerging, clean technologies.
This press release contains statements that constitute “forward-looking statements,” including with respect to the expected closing of the Company’s initial public offering (“IPO”) and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are unprotected to numerous conditions, many of which are beyond the control of ClimateRock, including those set forth in the Risk Factors section of ClimateRock’s registration statement and preliminary prospectus for the IPO filed with the SEC. Copies are obtainable on the SEC’s website, www.sec.gov. ClimateRock undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Phone number: +44 203 954 0590
Email: [email protected]
Person of contact: Abhishek Bawa
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