Clean Earth Acquisitions Corp. announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CLINU” Thursday, February 24.
The new SPAC intends to focus on businesses in the clean and renewable energy industry with an enterprise value of approximately $800 million to $1.5 billion, with particular emphasis on businesses that participate in the global energy transition ecosystem and facilitate the way that energy is produced, stored, transmitted, distributed and consumed, all while reducing greenhouse gas emissions. Clean Earth is led by CEO Aaron T. Ratner, CFO and COO Martha F. Ross, and Chairman Nicholas Parker.
Total SPAC deal count for 2022 year-to-date is now 42. This offering is expected to close on Monday, February 28.
Citigroup Global Markets Inc. is acting as the sole book-running manager for the offering. Jones Trading Institutional Services LLC is acting as co-manager for the offering. Proskauer Rose LLP is serving as Issuer’s Counsel with Baker Botts LLP serving as Underwriter’s Counsel. BDO USA, LLP serves as an auditor. American Stock Transfer & Trust Company is acting as trustee.
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