AltEnergy Acquisition Corp.. Announces Separate Trading of its Common Stock and Warrants, Commencing December 13, 2021
AltEnergy Acquisition Corp. (NASDAQ: AEAEU, AEAE, AEAEW) announced that starting December 13, 2021, holders of its units can trade shares of Class A common stock and warrants separately on Nasdaq. The Common Stock will trade under the symbol 'AEAE' and the Warrants under 'AEAEW'. Units that remain unseparated will continue under 'AEAEU'. No fractional Warrants will be issued, and brokers must contact Continental Stock Transfer & Trust Company for separation. The release clarifies that this announcement does not constitute an offer to sell securities.
- Commencement of separate trading may increase liquidity for shareholders.
- Facilitates easier access to trading of Common Stock and Warrants.
- None.
NEW YORK, Dec. 13, 2021 /PRNewswire/ -- AltEnergy Acquisition Corp.. (the "Company") (NASDAQ: AEAEU, AEAE, AEAEW), a special purpose acquisition company sponsored by AltEnergy, LLC, today announced that, commencing December 13, 2021, the holders of the Company's units (the "Units") may elect to separately trade the shares of Class A common stock (the "Common Stock") and warrants (the "Warrants") included in the Units.
The Common Stock and Warrants resulting from the unit separation will trade on The Nasdaq Global Market ("Nasdaq") under the symbols "AEAE" and "AEAEW", respectively. Units that are not separated will continue to trade on the Nasdaq under the symbol "AEAEU". No fractional Warrants will be issued upon separation of the Units and only whole Warrants will trade. Holders of Units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company's transfer agent, in order to separate the Units into Common Stock and Warrants.
This press release shall not constitute an offer to sell or the 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.
The offering of the Units was made only by means of a prospectus, copies of which may be obtained from B. Riley Securities, Inc. at 299 Park Avenue, New York, New York 10171, by telephone at (800) 846-5050 or by email at prospectuses@brileyfin.com.
About AltEnergy Acquisition Corp..
AltEnergy Acquisition Corp. is a newly incorporated blank check company formed as a Delaware corporation for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar transaction with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any business combination targets, and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any potential business combination targets.
While we may pursue an initial business combination in any industry, we intend to focus our efforts on businesses that leverage our management team's experience in acquiring and operating businesses that are involved in renewable energy or related clean technology, which we refer to as the alternative energy sector. We intend to focus on the significant opportunities we believe will result from the ongoing transformation of the energy ecosystem and the macro trends related to electrification and decarbonization. Specifically, we believe that select companies will represent opportunities stemming from these vast capital flows, and the best of these companies will provide exceptional high-growth investment opportunities. Visit https://altenergyacquisition.com for more information.
About AltEnergy LLC
Founded by Russell Stidolph in 2006 AltEnergy, LLC ("AltEnergy") is focused solely on making investments in the alternative energy sector. Mr. Stidolph has over two-decades of experience investing in and building businesses which span private companies in biofuels (Hawkeye Renewables), renewable power generation (Iowa Winds, American Heartland Wind, Broadview Energy), demand response software (Viridity), transmission infrastructure (Anbaric Power, Tres Amigas, Western Interconnect), and energy storage technology (Eos Energy Storage, now Eos Energy Enterprises, Inc., NASDAQ: EOSE). Mr. Stidolph is supported at AltEnergy by Arul Gupta and Jonathan Darnell, both Managing Directors. Darnell and Gupta have worked with Mr. Stidolph since 2005 and 2011, respectively.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the 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 the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the initial public offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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SOURCE AltEnergy
FAQ
What is the announcement made by AltEnergy Acquisition Corp. on December 13, 2021?
What will be the trading symbols for the common stock and warrants after the separation?
What happens to units that are not separated?
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