ArcLight Clean Transition Corp. announced the pricing of its $250 million IPO this evening and the units are expected to begin trading on the Nasdaq under the symbol “ACTCU” tomorrow, Wednesday, September 23, 2020.
This new company aims to combine with a target that is a market leader in facilitating the transition of the energy industry towards decarbonization and sustainability. ArcLight is led by Chairman Daniel R. Revers, President, CEO and Director Jake F. Erhard, CFO Marco F. Gatti, and COO Rick S. Knauth.
Total SPAC deal count for 2020 year-to-date is now 107 with $41.3 billion in gross proceeds raised. This offering is expected to close on Friday, September 25.
Citigroup Global Markets Inc. and Barclays Capital Inc. are serving as joint book-running managers for the offering. Kirkland & Ellis LLP serve as Issuer’s Counsel with White & Case LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.