Decarbonization Plus Acquisition Corporation announced the pricing of its $200 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “DCRBU” tomorrow, Tuesday, October 20.
The new company aims to combine with a target whose business efforts can reduce carbon emissions in the energy, transportation, agricultural, industrial, or residential sectors. Decarbonization Plus is led by CEO and Director Erik Anderson alongside CFO, Chief Accounting Officer and Secretary Peter Haskopoulos.
Total SPAC deal count for 2020 year-to-date is now 144 with $55.32 billion in gross proceeds raised. This offering is expected to close on Thursday, October 22.
Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC are serving as joint book running managers for the offering. Vinson & Elkins LLP is serving as Issuer’s Counsel with Davis Polk & Wardwell LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.