PDAC.U = 1C + 1/2W
Prospectus 9/18/20
1W + $11.50. Call $18.
Term = 24 months. Closed on 9/28/20.
Trust = $10. $300,000,000, or $345,000,000 if the underwriters’ over-allotment option is exercised in full ($10.00 per unit), will be deposited into a US account at Union Bank of Switzerland with Continental Stock Transfer & Trust Company as trustee.
UBS SECURITIES LLC & BARCLAYS CAPITAL INC.
HOUSTON, Sept. 23, 2020 (GLOBE NEWSWIRE) -- Peridot Acquisition Corp. (the “Company”), a blank check company sponsored by an affiliate of Carnelian Energy Capital Management, L.P. (“Carnelian”) and formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 30,000,000 units at a price of $10.00 per unit.
On September 28, 2020, the Company consummated the IPO of 30,000,000 units (the “Units”). Each Unit consists of one Class A ordinary share, $0.0001 par value per share (the “Class A Ordinary Shares”), and one-half of one redeemable warrant (the “Public Warrants”), each whole Public Warrant entitling the holder thereof to purchase one Class A Ordinary Share at an exercise price of $11.50 per share. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $300,000,000.
While the Company may pursue an initial business combination target in any business or industry, the Company intends to target companies that focus on environmentally sound infrastructure, industrial applications and disruptive technologies that eliminate or mitigate greenhouse gas (GHG) emissions and/or enhance resilience to climate change, a thematic that the Company refers to as Mitigation and Adaptation. The Company’s sponsor is an affiliate of Carnelian, an investment firm that focuses on opportunities in the North American energy space in partnership with best-in-class management teams.
The Company has granted the underwriters a 45-day option to purchase up to an additional 4,500,000 units at the initial public offering price to cover over-allotments, if any.
Alan Levande, our Chairman and Chief Executive Officer, is a career energy executive with broad experience across the power, utilities, renewables, midstream and upstream value chains. Most recently, Mr. Levande was Co-Chief Executive Officer of Covey Park Energy LLC, a natural gas company that was acquired for $2.2 billion in 2019 by a public company. Previously, Mr. Levande was a Co-Founder and Senior Managing Director at Tenaska Capital Management LLC, a $4 billion private equity manager focused on investments in the power and energy sectors. Mr. Levande began his career in energy investment banking, where he spent 20 years with Goldman Sachs and Salomon Brothers covering power, utilities, renewables and natural resources. In all of Mr. Levande’s prior roles, Mr. Levande was actively involved in sourcing and executing large-scale, complex mergers and acquisitions. Mr. Levande received his B.S. and M.B.A. from The Wharton School of The University of Pennsylvania.
Markus Specks, our Chief Financial Officer and Senior Vice President of Corporate Development, is an energy investor with significant experience sourcing, structuring and executing complex transactions. Mr. Specks was most recently a Managing Director with Värde Partners, Inc. (“Värde”), a global alternative investment advisor managing approximately $14 billion in assets. Mr. Specks opened and was Head of Värde’s Houston office, where he focused on investments across the energy landscape, including upstream, power, renewables and energy infrastructure. He began his career in investment banking at Lazard. Mr. Specks received his B.A. from Lawrence University.
Peridot will also be supported by directors Tomas Ackerman and Preston Powell, as well as other members of the Carnelian team. Mr. Ackerman is a Co-Founder and a Partner of Carnelian, where he oversees Carnelian’s efforts in sourcing investments, transaction negotiation and execution, monitoring of portfolio companies and firm management and strategy. Prior to co-founding Carnelian, Mr. Ackerman was a Managing Director and the head of the Houston office of Natural Gas Partners. Mr. Ackerman received a B.B.A. from the Business Honors Program at The University of Texas at Austin and an M.B.A. from Harvard Business School.
Mr. Powell is a Managing Director of Carnelian, where he is responsible for leading investment sourcing, transaction due diligence and execution and monitoring portfolio companies. Prior to joining Carnelian, Mr. Powell was an energy investor at Denham Capital Management and KKR & Co. He began his career in investment banking at Greenhill & Co. and received a B.B.A. from the Business Honors Program from The University of Texas at Austin.
On September 28, 2020, the Board of Directors (the “Board”) of Peridot Acquisition Corp. (the “Company”) elected Jonathan Silver, age 63, to serve as a Class III non-employee director of the Company for a term ending at the date of the annual meeting to be held in 2023. The Board has determined that Mr. Silver qualifies as an independent director under applicable Securities and Exchange Commission (“SEC”) and New York Stock Exchange rules. Mr. Silver will serve on the Audit and Nominating Committees of the Board.
Mr. Silver is one of the nation’s leading clean economy investors and advisors and has been recognized as one of the United States’ “Top 10 Green Tech Influencers.” Mr. Silver currently serves as a Senior Advisor at a leading investment bank, and Managing Partner of Tax Equity Advisors LLC, which has managed investments in large-scale renewable projects, and has served in such capacities since April 2020 and February 2015, respectively. From 2009 to 2011, Mr. Silver served as Executive Director of the Loan Programs Office during President Obama’s administration, leading the government’s $40 billion clean energy investment fund and its $20 billion advanced automotive technology fund, providing financing for a wide range of solar, wind, geothermal, biofuels, fossil, nuclear energy and electric vehicle projects. Earlier, Mr. Silver co-founded and served as Managing Partner of Core Capital Partners, a successful early-stage investor in battery technology, advanced manufacturing, telecommunications and software and as Managing Director and the Chief Operating Officer of Tiger Management, one of the country’s largest and most successful hedge funds. He began his business career at McKinsey and Company, a global management consulting firm. In addition, Mr. Silver has served as a policy advisor to four U.S. Cabinet Secretaries – Energy, Commerce, Interior and Treasury. Mr. Silver currently serves on the boards of National Grid (NYSE: NGG), a FTSE 15 utility company, Plug Power (NASDAQ: PLUG), the country’s leading manufacturer of hydrogen fuel cells and has served in such capacities since May 2019 and June 2018, respectively. He is also on the board of several privately held clean economy companies. Mr. Silver received his B.A. in Government from Harvard University and has received both the Fulbright and Rotary Graduate Fellowships. The Company believes Mr. Silver’s extensive industry knowledge and leadership experience as an executive and advisor in the clean energy industry, as well his membership on the boards of directors of multiple public and private clean energy companies, qualify him to serve on the Board.