Peridot Acquisition Corp. II Announces Pricing of Upsized $360 Million Initial Public Offering

Rhea-AI Summary

Peridot Acquisition Corp. II has successfully priced its upsized initial public offering at 36,000,000 units, each priced at $10.00. The units will list on the NYSE under ticker symbol PDOT.U starting March 9, 2021. This SPAC aims to engage in mergers with companies focused on environmentally sound infrastructure and technologies that mitigate greenhouse gas emissions. The offering is expected to close on March 11, 2021, and underwriters have a 45-day option to purchase an additional 5,400,000 units.

Positive

• A total of 36,000,000 units priced at $10.00 each, indicating strong investor interest.
• Focus on environmentally sustainable businesses aligns with current market trends.
• Potential for additional funding through underwriters' option for 5,400,000 additional units.

Negative

• None.

HOUSTON, March 08, 2021 (GLOBE NEWSWIRE) -- Peridot Acquisition Corp. II (the “Company”), a blank check company sponsored by an affiliate of Carnelian Energy Capital Management, L.P. (“Carnelian”) and formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities, today announced the pricing of its upsized initial public offering of 36,000,000 units at a price of $10.00 per unit.

While the Company may pursue an initial business combination target in any business or industry, the Company intends to target opportunities and companies that focus on environmentally sound infrastructure, industrial applications and disruptive technologies that eliminate or mitigate greenhouse gas (GHG) emissions and/or enhance resilience to climate change, a thematic that the Company refers to as Mitigation and Adaptation. The Company’s sponsor is an affiliate of Carnelian, a Houston-based investment firm that focuses on opportunities in the North American energy space.

The units will be listed on the New York Stock Exchange and trade under the ticker symbol “PDOT.U” beginning March 9, 2021. Each unit consists of one Class A ordinary share of the Company and one-fifth of one warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the New York Stock Exchange under the symbols “PDOT” and “PDOT WS,” respectively. The offering is expected to close on March 11, 2021, subject to customary closing conditions.

UBS Securities LLC and Barclays Capital Inc. acted as joint book running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 5,400,000 units at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019, telephone: (888) 827-7275 or email: ol-prospectusrequest@ubs.com, or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email: barclaysprospectus@broadridge.com, tel: (888) 603-5847.

A registration statement relating to the securities became effective on March 8, 2021 in accordance with Section 8(a) of the Securities Act of 1933, as amended. 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.

This press release contains statements that constitute “forward-looking statements,” including with respect to the closing of the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net 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 and preliminary prospectus for the Company’s offering filed with the Securities and Exchange Commission (“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

Peridot Acquisition Corp. II
www.peridotspac.com
Jeffrey Gilbert
(713) 322-7321

FAQ

What is the purpose of Peridot Acquisition Corp. II's IPO?

The IPO aims to raise capital for mergers with companies in environmentally sound infrastructure and technologies.

When will the units of Peridot Acquisition Corp. II start trading?

The units will begin trading on the NYSE under the ticker symbol PDOT.U on March 9, 2021.

What is the expected closing date for Peridot Acquisition Corp. II's IPO?

The offering is expected to close on March 11, 2021, subject to customary conditions.

How many additional units can underwriters purchase in Peridot Acquisition Corp. II's IPO?

Underwriters have a 45-day option to purchase up to 5,400,000 additional units.

What is the pricing structure of the units in this IPO?

Each unit consists of one Class A ordinary share and one-fifth of one warrant, priced at $10.00.