Energem Corp. Announces Separate Trading of its Common Stock and Warrants, Commencing January 10, 2022

Rhea-AI Summary

Energem Corp. will begin allowing unit holders to separately trade shares of common stock and warrants on Nasdaq starting January 10, 2022. Each unit comprises one share of common stock and one warrant to purchase a share at $11.50. The common stock will trade under the symbol ENCP, while the warrants will trade under ENCPW. Units not separated will continue trading as ENCPU. This offering, underwritten by EF Hutton, aims to facilitate investment flexibility, but potential investors should consult the SEC for risks associated with the offering.

Positive

• Holders can trade shares of common stock and warrants separately, enhancing liquidity.
• The offering provides potential investment opportunities for unit holders with a clear trading structure.

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• None

Kuala Lumpur, Malaysia, Jan. 07, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Energem Corp. (the "Company") today announced that commencing January 10, 2022, holders of the units sold in the Company's initial public offering may elect to separately trade the shares of common stock and warrants included in the units on The Nasdaq Global Market (“Nasdaq”).

Each unit consists of one share of common stock, par value $0.0001 per share and one warrant, with each whole warrant entitling the holder to purchase one share of common stock at a price of $11.50 per share.  No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The shares of common stock and warrants that are separated will trade on the Nasdaq under the symbols "ENCP" and "ENCPW," respectively.  Those units not separated will continue to trade on the Nasdaq under the symbol "ENCPU." 

Holders of the units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company's transfer agent, in order to separate the holders' units into shares of common stock and warrants.

The units were initially offered by the Company in an underwritten offering.  EF Hutton, division of Benchmark Investments, LLC acted as the as sole book running manager for the offering.

A registration statement relating to the units and the underlying securities became effective on November 17, 2021.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, 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.  A copy of the final prospectus relating to the offering may be obtained for free by visiting the U.S. Securities and Exchange Commission (the "SEC") website at http://www.sec.gov.  

ABOUT ENERGEM CORP.

Energem Corp. is a blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization or other similar business combination with one or more businesses or entities.  The Company's efforts to identify a prospective target business will not be limited to any particular industry or geographic region.

FORWARD LOOKING STATEMENTS

This press release contains statements that constitute "forward-looking statements."  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 Company's 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.

SOURCE:  Energem Corp.

Energem Corp. Contact:

Energem Corp.
Level 3, Tower 11, Avenue 5, No. 8,
Jalan Kerinchi, Bangsar South
59200 Wilayah Persekutuan Kuala Lumpur, Malaysia
Attn: Swee Guan Hoo
Chief Executive Officer
sghoo@energemcorp.com
+ (60) 3270 47622

FAQ

What are the trading symbols for Energem Corp.'s common stock and warrants?

The common stock will trade under the symbol ENCP and the warrants under ENCPW.

When can holders of Energem Corp.'s units start trading separately?

Holders can start trading shares of common stock and warrants separately on January 10, 2022.

What does each unit of Energem Corp. consist of?

Each unit consists of one share of common stock and one warrant to purchase one share at $11.50.

What happens to units that are not separated?

Units that are not separated will continue trading on Nasdaq under the symbol ENCPU.

Who managed the underwritten offering for Energem Corp.?

The underwritten offering was managed by EF Hutton, a division of Benchmark Investments.