Chardan Co-Sponsors and Acts as Sole Bookrunner in CleanTech Acquisition Corp.'s $172.5 Million IPO

Rhea-AI Summary

Chardan announced its role as co-sponsor and sole bookrunner for CleanTech Acquisition Corp.'s $172.5 million IPO on NASDAQ (CLAQ). CleanTech aims to merge with a business focused on reducing carbon dependency and promoting sustainability. The company is led by CEO Eli Spiro, with Jon Najarian as Chairman and Bill Richardson as Vice-Chairman. Chardan emphasizes its commitment to ESG opportunities and has been involved in over 90 SPAC transactions, raising approximately $12 billion since 2003.

Positive

• Raised $172.5 million in IPO, enhancing capital for future acquisitions.
• Targets businesses contributing to carbon reduction, aligning with global sustainability trends.
• Chardan's strong track record with over 90 SPAC transactions enhances credibility.

Negative

• None.

NEW YORK, Aug. 10, 2021 /PRNewswire/ -- Chardan, a global investment bank with a leading SPAC practice, today announced that it acted as both co-sponsor and sole bookrunner in the $172.5 million IPO of CleanTech Acquisition Corp. (NASDAQ: CLAQ, CLAQR, CLAQW).

CleanTech Acquisition Corp. is a blank check company that will seek to combine with a business that aims to contribute toward the mission of shifting the world away from carbon dependency and facilitating a greener future. CleanTech is led by Eli Spiro as Chief Executive Officer. Notably, the board is led by Jon Najarian as Chairman and Governor Bill Richardson as Vice-Chairman.

"We are delighted to work with the outstanding team at CleanTech Acquisition Corp. and support their goal of identifying a target that will help shift the world away from carbon dependency," said Jonas Grossman, President of Chardan and CleanTech Board Member. "Chardan seeks to identify and support entrepreneurs and companies that address areas of significant unmet need. This team and the SPAC's intended area of focus align with Chardan's mission to support disruption and innovation."

This transaction further solidifies Chardan's dedication to ESG opportunities and strong SPAC teams. Since 2003, Chardan is a notable underwriter, advisor and sponsor of SPACs, having underwritten 90 transactions raising approximately $12 billion. Chardan has also served as advisor to over 25 announced and closed SPAC transactions. 

About Chardan
Chardan is an independent global investment bank specializing in SPACs, healthcare, technology, and emerging growth companies. Our range of services include capital raising, merger and acquisition advisory, strategic advisory, equity research, corporate access, and institutional trading. Headquartered in New York City, Chardan is a registered broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: FINRA, SIPC, NASDAQ and the NYSE Arca, Inc. 

Media Inquiries:
Emily Levine, Chardan
elevine@chardan.com 
(646) 465-9018

Margaret Gaenzle, Prosek Partners
mgaenzle@prosek.com
(804) 714-8848

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SOURCE Chardan

FAQ

What is the significance of CleanTech Acquisition Corp's IPO on NASDAQ (CLAQ)?

The IPO raised $172.5 million, enabling CleanTech to pursue mergers with businesses focused on sustainability.

Who is leading CleanTech Acquisition Corp?

CleanTech is led by CEO Eli Spiro, with Jon Najarian as Chairman.

What is Chardan's involvement with CleanTech Acquisition Corp?

Chardan acted as both co-sponsor and sole bookrunner for CleanTech's IPO.

How many SPAC transactions has Chardan been involved in?

Chardan has been involved in over 90 SPAC transactions, raising approximately $12 billion.