AMCI II (NASDAQ:AMCI) announced this morning that it has added a $50 million PIPE to its combination with renewable materials-maker LanzaTech.
Woodside Energy (ASX:WDS) is investing in this PIPE at $10 per share and the two sides expect a strategic collaboration to follow, accelerating LanzaTech’s scale-up as it seeks out new ways to capture carbon and turn it into new industrial feedstocks.
The parties noted in an 8-K that, in addition to cementing this partnership, the move is a part of efforts by both sides to fully cover the transactions $250 million minimum cash condition with committed capital. So far, $180 million has been lined up including a $125 million PIPE at announcement.
Earlier this month, AMCI II announced that Brookfield Renewable has agreed to invest $500 million to efforts to construct and operate new LanzaTech projects that have achieved certain pre-agreed milestones. Following the initial investment, Brookfield has disclosed that it could commit to making an additional $500 million available if sufficient projects are available at the agreed milestones.
The SPAC announced its $1.8 billion business combination with LanzaTech on March 8. 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.
On October 6, the company received $18.5 million in grant funding from the US Department of Energy to attempt to produce technology allowing for carbon-negative biomanufacturing.
Terms Tracker for the Week Ending May 17, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. SPACs managed to price their third IPO in the month of May this week with RF Acquisition Corp. II‘s $100 million offering. RF II’s IPO...
At the SPAC of Dawn While AST Spacemobile (NASDAQ:ASTS) had the SPAC market’s biggest leap yesterday, among de-SPACs that are trading above $10, it was oil and gas firm Sable Offshore (NYSE:SOC) that had the best outing. It finished up +14% and is gaining a further +2% in the pre-market to $14.30 this morning. This...
RF Acquisition Corp. II (NASDAQ:RFAIU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RFAIU”, Friday, May 17, 2024. The new SPAC intends to focus its target search on businesses in Asia within the deep technology sector, including artificial intelligence, quantum computing,...
AST SpaceMobile (NASDAQ:ASTS) has been on +68% a tear off of its double-barreled announcement after hours yesterday that it signed a six-year commercial partnership with telecom AT&T (NYSE:T) and had beaten analyst expectations with its first quarter earnings. It has, in fact, been the best performer on the US markets throughout the afternoon outside of...
At the SPAC of Dawn Chinese auto conglomerate Geely (HK:0175) has occupied a not insignificant portion of recent SPAC dealflow as it has turned to the vehicles to spin off a series of subsidiaries. But, this week, it veered back to the traditional IPO path. The early returns on its move to bring EV brand...