Here are the 424B prospectus supplements from Activate Energy Acquisition Corp. Unit (AEAQU) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow AEAQU and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AEAQU filings page.
Activate Energy Acquisition Corp. is launching an initial public offering of 20,000,000 units for total gross proceeds of $200,000,000. Each $10.00 unit includes one Class A ordinary share and one-half of a warrant, with each whole warrant exercisable at $11.50 per share after a business combination. An over-allotment option allows underwriters to buy up to 3,000,000 additional units.
Of the IPO and private placement proceeds, $200,000,000 (or $230,000,000 if the over-allotment is fully exercised) will be placed in a U.S. trust account while the company seeks a business combination, currently targeting the oil and gas industry but able to pursue any sector. Public shareholders can redeem their shares at cash equal to the trust per-share balance if they do not wish to remain invested after a deal, subject to certain limits, including a 15% cap on redemptions per shareholder group in a shareholder vote scenario.
The sponsor bought 7,666,667 Class B founder shares for $25,000 and will hold private units, creating significant potential dilution because founder shares convert into Class A and have anti-dilution rights designed to keep them at about 25% of certain post-IPO share totals. Additional dilution may arise from private warrants, possible conversion of up to $1,500,000 of working capital loans into units, and other equity-linked securities. The SPAC has 24 months, extendable with shareholder approval, to complete a business combination before liquidating the trust and redeeming public shares.