Riverstone’s third SPAC Decarbonization Plus Acquisition
Decarbonization Plus Acquisition Corporation is a blank check company. The Company is formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The NASDAQ: DCRBU at https://www.webull.com/quote/nasdaq-dcrbu company focuses on industries, including energy and agriculture, industrials, transportation, and commercial and residential sectors. The Company has no operations and has not generated revenues. They believe these areas of focus represent a favorable and highly fragmented market opportunity to consummate a business combination. Although they may pursue an acquisition opportunity in any business or industry, they intend to capitalize on the Riverstone platform to identify, acquire and operate a business in industries that may provide opportunities for attractive risk-adjusted returns in one of the multiple sectors that may advance the objectives of global decarbonization. This is including the energy and agriculture, industrials, transportation, and commercial and residential sectors. These areas of focus are representing a favorable and highly fragmented market opportunity to consummate a business combination.
SPAC Decarbonization Plus Acquisition files for a $300 million
- Decarbonization Plus Acquisition is the third blank check company formed by Riverstone targeting businesses advancing global decarbonization, filed on Tuesday with the SEC to raise to $300 million in an initial public offering.
- The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Decarbonization Plus Acquisition would command a market value of $375 million.
- The company is led by CEO and Director Erik Anderson, founder, and CEO of investment firm WestRiver Group, and CFO and CAO Peter Haskopoulos, a Managing Director and CFO of Riverstone. Riverstone co-founders Pierre Lapeyre and David Leuschen will serve as Directors.
- The company plans to target businesses that may advance the objectives of global decarbonization, including those operating in the energy and agriculture, industrials, transportation, and commercial and residential sectors.
- Riverstone’s most recent SPAC, Silver Run Acquisition II, raised $900 million in March 2017 and completed its merger with Alta Mesa and Kingfisher Midstream in February 2018 to form Alta Mesa Resources (AMR).
- The new company filed for bankruptcy in September 2019 and was sold in April 2020 for $220 million. Riverstone’s first SPAC, Silver Run Acquisition, went public in February 2016 and acquired Centennial Resource Development (CDEV; -94% from $10 offer price) in October 2016.
- Decarbonization Plus Acquisition was founded in 2017 and plans to list on the Nasdaq: DCRBU. You can buy stock share during day trading.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.