SPRQU = 1C + 1/2W
1W + $11.50. Call $18.
Term 24 months. Option to extend to 27 months.
Trust = $10.00. $250.0 million or $287.5 million if the underwriters’ over-allotment option is exercised in full ($10.00 per unit), will be deposited into a U.S.-based trust account at J.P. Morgan Chase Bank, N.A. with Continental Stock Transfer & Trust Company acting as trustee.
- $8.0 million, including $5.0 million in underwriting discounts and commissions (or $8.8 million, including $5.8 million in underwriting discounts and commissions, if the underwriters’ over-allotment option is exercised in full), will be used to pay fees and expenses in connection with the closing of this offering and for working capital following the closing of this offering.
Lots: Citigroup, Credit Suisse, Cowen, Morgan Stanley, Barclays, RBC Capital Markets. Co Mgr = TD Securities, MUFG, Siebert Williams Shank.
On November 30, 2020, Spartan Acquisition Corp. II (the “Company”) completed its initial public offering (the “IPO”) of 345,000,000 units (the “Units”), including 4,500,000 Units that were issued pursuant to the underwriters’ full exercise of their over-allotment option. Each Unit had an offering price of $10.00 and consists of one share of Class A common stock of the Company, par value $0.0001 per share (the “Class A Common Stock”), and one-half of one redeemable warrant of the Company (each such whole warrant, a “Public Warrant”). Each Public Warrant entitles the holder thereof to purchase one share of Class A Common Stock at a price of $11.50 per share.
We intend to focus our search for a target business in the energy value chain in North America, with a particular focus on opportunities aligned with energy transition and sustainability themes. To date, our efforts have been limited to organizational activities as well as activities related to our offering. We have not selected any potential business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any potential business combination target.
Specifically, we intend to focus on opportunities across the renewable energy, energy storage, mobility, advanced fuels, and carbon mitigation sectors, as well as other adjacent services, industrials, and technologies, while remaining opportunistic across the energy value chain, including select opportunities within the traditional power generation and energy production verticals. We believe this area of focus represents a favorable and highly fragmented market opportunity to consummate a business combination.