ECP Environmental Growth Opportunities Corp. announced the pricing of its $300 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “ENNVU” Tuesday, February 9.
The new company aims to focus on businesses located in North America that concentrate on combatting climate change by decreasing the carbon intensity of energy production, increasing the efficiency of industrial and consumer-related activities, expanding electricity storage and distribution, and improving the overall sustainability of the economy through efforts to lower pollution and increase beneficial reuse. ECP Environmental Growth Opportunities Corp. is led by President, Chief Executive Officer and Director Tyler Reeder.
Total SPAC deal count for 2021 year-to-date is now 123 with $36.7 billion in gross proceeds raised. This offering is expected to close on Thursday, February 11.
Barclays, Morgan Stanley and BMO Capital Markets are acting as book runners for the offering. Latham & Watkins LLP is serving as Issuer’s Counsel with Vinson & Elkins L.L.P. serving as Underwriter’s Counsel. Marcum LLP serves as auditor. American Stock Transfer & Trust Company, LLC is acting as trustee.