ArcLight Clean Transition Corp. II Announces Pricing of Upsized $275 Million Initial Public Offering
23 Marzo 2021 - 4:32AM
ArcLight Clean Transition Corp. II (the “Company”), a special
purpose acquisition company formed for the purpose of entering into
a combination with one or more businesses, today announced the
pricing of its upsized initial public offering of 27,500,000 units
at a price of $10.00 per unit. The units will be listed on the
Nasdaq Capital Market and trade under the ticker symbol “ACTDU”
beginning March 23, 2021. Each unit consists of one Class A
ordinary share of the Company and one-fifth of one redeemable
warrant. Each whole warrant entitles the holder thereof to purchase
one Class A ordinary share of the Company at a price of $11.50 per
share. Once the securities comprising the units begin separate
trading, the Class A ordinary shares and warrants are expected to
be listed on the Nasdaq Capital Market under the symbols “ACTD” and
“ACTDW,” respectively.
ArcLight Clean Transition Corp. II, led by Chairman Daniel R.
Revers and President and Chief Executive Officer John F. Erhard,
intends to pursue opportunities created by the accelerating
transition toward sustainable use of energy and natural resources,
but will not be limited to a particular industry or geographic
region in its identification and acquisition of a target
company.
Citigroup Global Markets Inc. and Barclays Capital Inc. are
serving as joint book-running managers for the offering. The
Company has granted the underwriters a 45-day option to purchase up
to an additional 4,125,000 units at the initial public offering
price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When
available, copies of the prospectus may be obtained from:
Citigroup Global Markets Inc., c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, New York 11717, Telephone:
1-800-831-9146; or Barclays Capital Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717,
Telephone: 1-888-603-5847.
A registration statement relating to the securities became
effective on March 22, 2021. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
The offering is expected to close on March 25, 2021, subject to
customary closing conditions.
Cautionary Note Concerning Forward-Looking
Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
proposed initial public offering and the anticipated use of the net
proceeds. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that
the net proceeds of the offering will be used as indicated.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company's registration
statement and preliminary prospectus for the Company's offering
filed with the Securities and Exchange Commission (“SEC”). Copies
are available on the SEC's website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Contact:
Marco Gatti,
CFO617-531-6300investor.relations@arclightclean.com
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