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Spectaire Inc. has announced a definitive agreement for a business combination with Perception Capital Corp. II (NASDAQ: PCCT), creating a combined entity expected to capitalize on the growing demand for accurate emissions monitoring. Spectaire's patented micro-mass-spectrometer (MMS) technology, developed at M.I.T., is projected to directly measure emissions, helping customers save costs and generate carbon credits. This transaction values Spectaire at approximately $203M, with anticipated positive EBITDA and cash flow by 2024. The deal, approved by both Boards, is set to close in the second quarter of 2023.
Perception Capital Corp. II has priced its initial public offering (IPO) of 20,000,000 units at $10.00 each, listing on Nasdaq under the ticker symbol PCCTU starting October 28, 2021. Each unit comprises one Class A ordinary share and half a redeemable warrant, where each whole warrant can buy a share at $11.50. The IPO closes on November 1, 2021, subject to conditions. The company aims to merge with technology-enabled firms across diverse sectors, especially in industrial technology and sustainability. Jefferies LLC and others are managing the offering, with a potential 3,000,000-unit over-allotment option.
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