AMCI Acquisition Corp. II (NASDAQ:AMCI) announced this morning that it has closed its combination with carbon capture technology company LanzaTech.
The combined company’s shares are expected to begin trading on the Nasdaq on February 10 under the symbol “LNZA” and its warrants as “LNZAW”.
AMCI II shareholders approved the combination on February 6, but the SPAC noted certain closing conditions had not been satisfied at the time. It did, however, announce a $5 million addition to the transaction’s PIPE, bringing that facility to $185 million in value with the minimum cash condition set at $230 million.
The parties’ press release this morning notes that the deal is bringing in $240 million in total proceeds at close, and a post-announcement forward purchase agreement that AMCI II arranged to backstop shares could have contributed to the SPAC meeting the mark.
AMCI II inked its $1.8 billion deal with LanzaTech in March 2022. The Chicago-based company is developing carbon-capture plants designed to provide a number of carbon negative outputs ranging from jet fuel to consumer packaging materials.
At announcement, LanzaTech projected it would generate $178 million in revenue in 2023E and achieve EBITDA positivity in 2024E with $80 million in EBITDA from $436 million revenue.
ADVISORS
- Evercore Group L.L.C. is serving as exclusive financial advisor to AMCI.
- Barclays Capital Inc. is serving as exclusive financial advisor and capital markets advisor to LanzaTech.
- Goldman Sachs & Co. LLC, Barclays Capital Inc. and Evercore Group L.L.C. are serving as placement agents for the PIPE transaction for AMCI.
- Evercore Group L.L.C. and Goldman Sachs & Co. LLC are serving as capital markets advisors to AMCI.
- White & Case LLP is serving as legal advisor to AMCI.
- Covington & Burling LLP is serving as legal advisor to LanzaTech.
- Ropes & Gray LLP is serving as legal advisor to the placement agents.
BM Acquisition Corp. (NASDAQ:BMOKU) has filed for a $60 million IPO to bring another first-time, Asia-based team to the market. The new SPAC is serving up 1/2 warrants in each of its units and the team will have 18 months under its initial search window to close a deal. It may extend this, but only...
At the SPAC of Dawn The Fed’s rate decision day has finally come and futures are slightly green in anticipation. De-SPACs have largely opted not to hedge their bets on the event with several making large-scale equity capital raises directly on its eve. Four companies alone raised over $1 billion in secondary offerings this week,...
Pioneer Acquisition I Corp. (NASDAQ:PACHU) announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “PACHU”, Wednesday, June 18, 2025. The new SPAC aims to combine with a target company in the healthcare sector, which could include medical device manufacturers, digital healthcare firms...
Axiom Intelligence Acquisition Corp. 1 (NASDAQ:AXINU) announced the pricing of its $175 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “AXINU”, Wednesday, June 18, 2025. The new SPAC plans to combine a European infrastructure target company potentially in the energy, digitization or transportation spheres. Axiom 1’s management...
Solarius Capital (NASDAQ:INACU) has filed for a $150 million IPO to seek out a financial services target with a team making its first step into SPACs. The new SPAC is offering investors a 1/2 warrant in each unit and it will overfund its trust to 100.5% with $10.05 per unit in the trust account from...