Decarbonization Plus Acquisition Corporation Announces Pricing of Initial Public Offering

Rhea-AI Summary

Decarbonization Plus Acquisition Corporation announced its IPO pricing on October 19, 2020, offering 20 million units at $10.00 each, set to trade on NASDAQ under the symbol 'DCRBU' starting October 20, 2020. Each unit includes one share of Class A common stock and half a warrant. The company has granted underwriters a 45-day option for an additional 3 million units. This IPO aims to support a merger focusing on decarbonization in various sectors, backed by Riverstone Investment Group, which has invested over $5 billion in renewables.

Positive

• Successful pricing of 20 million units at $10 each, indicating strong investor interest.
• Strategic focus on decarbonizing carbon-intensive sectors, potentially leading to significant market opportunities.
• Backed by Riverstone Investment Group, enhancing credibility and investment assurance.

Negative

• No guarantees that the offering will be completed as intended, highlighting potential market risks.

MENLO PARK, Calif., Oct. 19, 2020 /PRNewswire/ -- Decarbonization Plus Acquisition Corporation (the "Company") announced today the pricing of its initial public offering ("IPO") of 20,000,000 units at a price of $10.00 per unit. The units will be listed on the NASDAQ Capital Market ("NASDAQ") and trade under the ticker symbol "DCRBU" beginning on October 20, 2020. Each unit consists of one share of the Company's Class A common stock and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one share of the Company's Class A common stock at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on NASDAQ under the symbols "DCRB" and "DCRBW," respectively.

Citigroup and Credit Suisse are acting as joint book running managers for the proposed offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the IPO price.

The public offering will only be made by means of a prospectus. Copies of the preliminary prospectus relating to the offering and final prospectus, when available, may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, at 1-800-831-9146 or by email at Prospectus@citi.com or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, by telephone at 1-800-221-1037, or by email at usa.prospectus@credit-suisse.com.

A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the "SEC") on October 19, 2020. 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.

About Decarbonization Plus Acquisition Corporation

Decarbonization Plus Acquisition Corporation was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. The Company intends to focus its search for a target whose principal effort is developing and advancing a platform that decarbonizes the most carbon-intensive sectors, including the energy and agriculture, industrials, transportation and commercial and residential sectors. The Company is sponsored by Decarbonization Plus Acquisition Sponsor, LLC, which is an affiliate of Riverstone Investment Group LLC and its affiliates. Decarbonization Plus Acquisition Corporation represents a further expansion of Riverstone's 15-year franchise in low-carbon investments, having established industry leading, scaled companies with more than $5 billion of equity invested in renewables. This IPO adds to the breadth of Riverstone's efforts and underscores the support from the firm's long-term investors across its low-carbon platforms.

Forward Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the IPO. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. 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 preliminary prospectus for the Company's 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.

Contacts

Investors:

Peter Haskopoulos, Chief Financial Officer
Email: phaskopoulos@riverstonellc.com
Phone: 212-271-6247

Media:

Daniel Yunger / Jeffrey Taufield
Kekst CNC
daniel.yunger@kekstcnc.com / jeffrey.taufield@kekstcnc.com

 

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SOURCE Decarbonization Plus Acquisition Corporation

FAQ

What is the IPO price for Decarbonization Plus Acquisition Corporation?

The IPO price is set at $10.00 per unit.

What will Decarbonization Plus Acquisition Corporation trade under on NASDAQ?

The company will trade under the ticker symbol 'DCRBU'.

When will the trading for DCRBU commence?

Trading for DCRBU will begin on October 20, 2020.

What is included in each unit of the IPO?

Each unit consists of one share of Class A common stock and one-half of a redeemable warrant.

Who are the underwriters for the IPO of Decarbonization Plus Acquisition Corporation?

Citigroup and Credit Suisse are acting as joint book running managers for the IPO.

What sectors will Decarbonization Plus Acquisition Corporation focus on?

The company aims to focus on decarbonizing sectors such as energy, agriculture, industrials, transportation, and residential.