Decarbonization Plus Acquisition Corporation II Announces Pricing of Initial Public Offering

Rhea-AI Summary

Decarbonization Plus Acquisition Corporation II has priced its IPO, offering 35 million units at $10.00 each, set to trade on NASDAQ under the symbol DCRNU starting February 4, 2021. Each unit includes one share of Class A common stock and one-third of a redeemable warrant, allowing purchase of stock at $11.50 per share. The offering includes a 45-day option for underwriters to purchase an additional 5.25 million units. The company, sponsored by Riverstone Investment Group, aims to target decarbonization in various sectors, reinforcing its low-carbon investment strategy.

Positive

• IPO pricing at $10.00 per unit indicates strong investor interest.
• Underwriters have the option to purchase an additional 5.25 million units, reflecting potential demand.
• Focus on decarbonization aligns with growing sustainable investment trends.

Negative

• The IPO is subject to market conditions, and there is no guarantee of completion at the offered terms.

MENLO PARK, Calif., Feb. 3, 2021 /PRNewswire/ -- Decarbonization Plus Acquisition Corporation II (the "Company") announced today the pricing of its initial public offering ("IPO") of 35,000,000 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 "DCRNU" beginning on February 4, 2021. Each unit consists of one share of the Company's Class A common stock and one-third 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 "DCRN" and "DCRNW," respectively.

Credit Suisse and Citigroup 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 5,250,000 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 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 or 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.

A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the "SEC") on February 3, 2021. 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 II

Decarbonization Plus Acquisition Corporation II 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 II, LLC, which is an affiliate of Riverstone Investment Group LLC and its affiliates. Decarbonization Plus Acquisition Corporation II 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 II

FAQ

What is the initial public offering price of DCRNU?

The IPO price is set at $10.00 per unit.

When will DCRNU start trading on NASDAQ?

DCRNU will start trading on NASDAQ on February 4, 2021.

What does each unit of DCRNU consist of?

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

What is the exercise price for the warrants associated with DCRNU?

The exercise price for the warrants is $11.50 per share.

Who is behind Decarbonization Plus Acquisition Corporation II?

The company is sponsored by Riverstone Investment Group, focusing on low-carbon investments.