CO2 Energy Transition Corp. Announces Closing of Previously Announced IPO and Full Exercise of Over-allotment Option, Raising $69 Million in Gross Proceeds
CO2 Energy Transition Corp. (Nasdaq: NOEM) has successfully completed its initial public offering, raising $69 million in gross proceeds. The company sold 6,000,000 units at $10.00 per unit, with an additional 900,000 units through the full exercise of the underwriter's over-allotment option. Each unit includes one common stock share, one warrant exercisable at $11.50, and one right to receive one-eighth of a share upon business combination. The units trade on Nasdaq under 'NOEMU', with individual components to trade as 'NOEM,' 'NOEMW,' and 'NOEMR'. Kingswood Capital Partners served as the sole underwriter.
CO2 Energy Transition Corp. (Nasdaq: NOEM) ha completato con successo la sua offerta pubblica iniziale, raccogliendo 69 milioni di dollari in proventi lordi. La società ha venduto 6.000.000 di unità a 10,00 dollari per unità, con ulteriori 900.000 unità tramite l'esercizio completo dell'opzione di sovra-allocazione dell'underwriter. Ogni unità include una quota di azioni ordinarie, un warrant esercitabile a 11,50 dollari e un diritto di ricevere un ottavo di azione in caso di fusione aziendale. Le unità negoziano su Nasdaq sotto 'NOEMU', mentre i singoli componenti vengono scambiati come 'NOEM', 'NOEMW' e 'NOEMR'. Kingswood Capital Partners ha servito come unico underwriter.
CO2 Energy Transition Corp. (Nasdaq: NOEM) ha completado con éxito su oferta pública inicial, recaudando 69 millones de dólares en ingresos brutos. La empresa vendió 6.000.000 de unidades a 10,00 dólares por unidad, con 900.000 unidades adicionales a través del ejercicio completo de la opción de sobreasignación del suscriptor. Cada unidad incluye una acción ordinaria, un warrant ejercitable a 11,50 dólares y un derecho a recibir un octavo de acción en caso de combinación empresarial. Las unidades se negocian en Nasdaq bajo 'NOEMU', con los componentes individuales negociándose como 'NOEM', 'NOEMW' y 'NOEMR'. Kingswood Capital Partners actuó como el único suscriptor.
CO2 에너지 전환 공사(Nasdaq: NOEM)는 최초의 공개 매각을 성공적으로 마무리하고 6,900만 달러의 총 수익을 올렸습니다. 회사는 6,000,000 단위를 10.00 달러 단위당에 판매했으며, 추가로 900,000 단위를 언더라이터의 오버올로트 옵션의 전면적 행사로 판매했습니다. 각 단위에는 하나의 보통주, 11,50 달러에 행사 가능한 한 개의 보증서, 사업 결합 시 일곱 번째 주식을 받을 권리가 포함되어 있습니다. 해당 단위는 Nasdaq에서 'NOEMU'로 거래되며, 개별 구성 요소는 'NOEM', 'NOEMW', 'NOEMR'로 거래됩니다. 킹스우드 캐피탈 파트너스가 유일한 언더라이터로 활동했습니다.
CO2 Energy Transition Corp. (Nasdaq: NOEM) a réussi à finaliser son introduction en bourse, levant 69 millions de dollars de produits bruts. La société a vendu 6.000.000 d'unités à 10,00 dollars par unité, avec 900.000 unités supplémentaires via l'exercice intégral de l'option de surallocation du souscripteur. Chaque unité comprend une action ordinaire, un bon de souscription exerçable à 11,50 dollars, et un droit de recevoir un huitième d'action lors d'une combinaison d'entreprises. Les unités se négocient sur Nasdaq sous le symbole 'NOEMU', tandis que les composants individuels se négocient sous 'NOEM', 'NOEMW' et 'NOEMR'. Kingswood Capital Partners a agi en tant que seul souscripteur.
CO2 Energy Transition Corp. (Nasdaq: NOEM) hat erfolgreich ihr Börsengang abgeschlossen und 69 Millionen Dollar brutto eingenommen. Das Unternehmen verkaufte 6.000.000 Einheiten zu 10,00 Dollar pro Einheit, mit zusätzlichen 900.000 Einheiten durch die volle Ausübung der Überzeichnungsoption des Underwriters. Jede Einheit beinhaltet eine Stammaktie, einen Warrant, der zu 11,50 Dollar ausgeübt werden kann, sowie ein Recht auf den Erhalt eines Achtels einer Aktie bei Unternehmenszusammenschlüssen. Die Einheiten werden unter 'NOEMU' an der Nasdaq gehandelt, während die Einzelbestandteile als 'NOEM', 'NOEMW' und 'NOEMR' gehandelt werden. Kingswood Capital Partners fungierte als alleiniger Underwriter.
- Successfully raised $69 million in gross proceeds through IPO
- Full exercise of over-allotment option indicating strong demand
- Listed on Nasdaq Global Market providing strong market visibility
- No established business operations as a blank check company
- Warrant dilution risk at $11.50 exercise price
- Additional dilution risk from rights conversion (1/8 share per right)
Insights
This SPAC IPO successfully raised
The full exercise of the over-allotment option indicates strong initial demand from institutional investors. However, investors should note that this is a blank check company with no current operations and success will depend entirely on management's ability to identify and execute a suitable business combination in the energy transition sector. The structure and size are typical for current market conditions in the SPAC sector.
HOUSTON, TEXAS, Nov. 22, 2024 (GLOBE NEWSWIRE) -- CO2 Energy Transition Corp. (Nasdaq: NOEM) (the “Company”) announced today that it closed its initial public offering of 6,000,000 units at
The units are listed on The Nasdaq Global Market (“Nasdaq”) and began trading under the ticker symbol “NOEMU” on November 21, 2024. Once the securities comprising the units begin separate trading, the shares of common stock, warrants and rights are expected to be listed on Nasdaq under the symbols “NOEM,” “NOEMW” and “NOEMR,” respectively.
Kingswood Capital Partners, LLC acted as sole underwriter in the offering. Loeb & Loeb LLP served as legal counsel to the Company. Olshan Frome Wolosky LLP served as legal counsel to Kingswood.
A registration statement on Form S-1, as amended (File No. 333-269932), relating to these securities was filed with the Securities and Exchange Commission (“SEC”) and became effective on November 12, 2024. A final prospectus relating to the offering was filed with the SEC and is available on the SEC’s website at http://www.sec.gov. The offering was made only by means of a prospectus forming part of the effective registration statement. Electronic copies of the prospectus relating to this offering may be obtained from Kingswood Capital Partners, LLC, 126 East 56th Street, Suite 22S, New York, NY 10022, Attn: Syndicate, or by email at syndicate@kingswoodus.com, or by accessing the SEC’s website at http://www.sec.gov.
This press release shall not constitute an offer to sell or a 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.
About CO2 Energy Transition Corp.
CO2 Energy Transition Corp. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. The Company will not be limited to any particular industry or geographic region, although it initially intends to pursue targets in the carbon capture, utilization and storage industry.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering (“IPO”) and search for an initial business combination. No assurance can be given 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 CO2 Energy Transition Corp., including those set forth in the Risk Factors section of CO2 Energy Transition Corp.’s registration statement and prospectus for the IPO filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. CO2 Energy Transition Corp. undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact Information:
CO2 Energy Transition Corp.
Brady Rodgers
President and Chief Executive Officer
bradyr@co2et.com
www.co2et.com
Andrew J. Martin
andym@co2et.com
(832) 724-3149
FAQ
How much did CO2 Energy Transition Corp (NOEMU) raise in its IPO?
What is included in each NOEMU unit from the IPO?
When did NOEMU start trading on Nasdaq?
What will be the separate trading symbols for NOEMU components?
