Glenfarne Merger Corp. Announces Closing of $250 Million Initial Public Offering
24 Marzo 2021 - 1:30PM
Business Wire
Glenfarne Merger Corp. (“GGMC”), a blank check company newly
incorporated for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses or
entities in the energy transition and electrification sector in the
Americas, today announced the closing of its $250 million initial
public offering.
The offering consisted of 25,000,000 units at a price of $10.00
per unit. The units began trading on The Nasdaq Capital Market
under the ticker symbol “GGMCU” on March 19, 2021. Each unit
consists of one share of GGMC’s Class A common stock and one-third
of one redeemable warrant. Each whole warrant entitles the holder
to purchase one share of GGMC’s Class A common stock at a price of
$11.50 per share, upon the consummation of an initial business
combination.
GGMC is an affiliate of Glenfarne Group, LLC (“Glenfarne”),
created to capitalize on the significant experience of Glenfarne’s
senior management team, led by Founder and Managing Partner,
Brendan Duval, in the infrastructure sector across the Americas.
Founded in 2011, Glenfarne is a developer, owner-operator and asset
manager of energy and infrastructure holdings across North and
South America with two operating platforms: EnfraGen, which focuses
on energy transition assets in grid stability and value-added
renewables, and Alder Midstream, its gas infrastructure
business.
Mizuho acted as the sole book running manager for the offering.
The underwriter has been granted a 45-day option to purchase up to
an additional 3,750,000 units offered by the Company to cover
over-allotments, if any, at the initial public offering price.
Greenberg Traurig represented GGMC, and White & Case served as
underwriters’ counsel.
The offering was made only by means of a prospectus. A copy of
the final prospectus related to the offering may be obtained from
Mizuho Securities USA LLC, Attention: Equity Capital Markets, 1271
Avenue of the Americas, New York, New York 10020; Telephone:
212-205-7600.
A registration statement relating to the securities became
effective on March 18, 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.
Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
anticipated use of the net proceeds of GGMC’s initial public
offering and its search for an initial business combination. 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 GGMC, including those set forth in the “Risk
Factors” section of GGMC’s registration statement and preliminary
prospectus for the offering filed with the SEC. Copies are
available on the SEC’s website, www.sec.gov. GGMC undertakes no
obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
About Glenfarne Merger Corp.
Glenfarne Merger Corp. is a blank check company led by the
management team at Glenfarne Group, LLC, newly incorporated for the
purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses or entities in the energy
transition and electrification sector in the Americas. For more
information, please visit www.glenfarnemerger.com.
About Glenfarne Group
Glenfarne is a privately held energy and infrastructure
development and management firm based in New York City and Houston,
Texas with offices in Panama City, Panama; Santiago, Chile and
Bogota, Colombia. Glenfarne's seasoned executives, asset managers
and operators develop, acquire, manage and operate energy and
infrastructure assets throughout North and South America and Asia.
For more information, please visit www.glenfarnegroup.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210324005497/en/
Kris Cole Pro-glenfarne@prosek.com (310) 652-1411
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