Enphys Acquisition Corp. Announces Pricing of Upsized $300 Million Initial Public Offering

Rhea-AI Summary

Enphys Acquisition Corp. announced the pricing of its initial public offering (IPO) of 30 million units at $10.00 each, totaling $300 million. The units begin trading on the NYSE under the symbol 'NFYS.U' starting October 6, 2021. Each unit comprises one Class A ordinary share and one-half redeemable warrant, with whole warrants priced at $11.50 per share. The offering is set to close on October 8, 2021. The company aims to target businesses in Ibero-America focused on energy transition and sustainability themes. Credit Suisse and BTIG are the joint book-running managers for the IPO.

Positive

• Successfully increased IPO size from 25 million to 30 million units.
• Targeting businesses in the growing renewable energy sector in Ibero-America.

Negative

• Forward-looking statements indicate uncertainty in completing the offering as planned.

NEW YORK, Oct. 5, 2021 /PRNewswire/ -- Enphys Acquisition Corp. (the "Company") announced today the pricing of its initial public offering of 30,000,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange (the "NYSE") and trade under the ticker symbol "NFYS.U" beginning on October 6, 2021. Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. After the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols "NFYS" and "NFYS WS," respectively. The offering is expected to close on October 8, 2021.

The company is led by CEO and Director Jorge de Pablo, the founder and Managing Partner of LAIG Investments, an investment company focused on the energy and mobility sectors across Ibero-America, and Chairman Carlos Guimarães, the Chairman of LAIG, together with CFO and Director Pär Lindström, CIO of i(x) investments and COO Matías de Buján, Managing Director of LAIG. The offering has been increased from an offering of 25,000,000 units at $10.00 per unit to an offering of 30,000,000 units at $10.00 per unit.

While it may pursue a business combination target in any industry or geographical location, the company plans to target businesses which predominantly operate in Ibero-America and whose business strategy is aligned with energy transition and sustainability themes, in particular renewable energy.

Credit Suisse Securities (USA) LLC and BTIG, LLC are acting as joint book-running managers of the offering. The Company has granted the underwriters a 45-day option to purchase an additional 4,500,000 units at the initial public offering price to cover over-allotments, if any.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on October 5, 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.

The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to this offering may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560 by telephone at (800) 221-1037 or by email at usa.prospectus@credit-suisse.com or from BTIG, LLC, 65 East 55th Street, New York, New York 10022, or email: ProspectusDelivery@btig.com. 

Cautionary Note Regarding 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 offering discussed above will be completed on the terms described, or at all, or 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 for the initial public offering filed with the SEC, which is 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 Enphys Acquisition Corp.

FAQ

What are the details of Enphys Acquisition Corp's IPO pricing for NFYS?

Enphys Acquisition Corp priced its IPO at $10.00 per unit, offering 30 million units.

What does each unit in the Enphys IPO consist of?

Each unit includes one Class A ordinary share and one-half of one redeemable warrant.

When will NFYS begin trading on the NYSE?

NFYS is set to begin trading on the NYSE on October 6, 2021.

What is the target market for Enphys Acquisition Corp?

Enphys aims to target businesses in Ibero-America focused on energy transition and sustainability.

Who are the underwriters for the Enphys Acquisition Corp IPO?

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

What is the expected closing date for the Enphys IPO?

The offering is expected to close on October 8, 2021.