Peridot Acquisition Corp. II Announces Closing of Exercise of Underwriters’ Over-Allotment Option

Rhea-AI Summary

Peridot Acquisition Corp. II announced the closing of its issuance of 4,845,476 units from the partial exercise of underwriters’ options, raising gross proceeds of $48,454,760. This increases the total from its IPO to $408,454,760. The units, composed of Class A ordinary shares and warrants, began trading under the symbol 'PDOT.U' on March 9, 2021. The company aims to identify targets in environmentally-friendly infrastructure and disruptive technologies aimed at reducing greenhouse gas emissions.

Positive

• Total gross proceeds from IPO now $408,454,760.
• Focus on companies addressing climate change, indicating potential for growth in a growing sector.

Negative

• None.

HOUSTON, March 17, 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, today announced the closing of the issuance of 4,845,476 units pursuant to the partial exercise of the underwriters’ option to purchase additional units in connection with the Company’s initial public offering. The additional units were sold at $10.00 per unit, resulting in gross proceeds of $48,454,760 and bringing the total gross proceeds from the Company’s initial public offering to $408,454,760, before deducting underwriting discounts and commissions and other offering expenses payable by the Company.

While the Company may pursue an initial business combination target in any business or industry, the Company is targeting 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 began trading on the New York Stock Exchange under the ticker symbol “PDOT.U” on 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.

UBS Securities LLC and Barclays Capital Inc. acted as joint book running managers for the offering.

The offering was made only by means of a prospectus. A copy of the final prospectus related to the offering 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 offering has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (the “SEC”) on March 8, 2021. Copies of the registration statement, as amended, can be accessed through the SEC’s website at www.sec.gov. 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 anticipated use of the net proceeds. No assurance can be given 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 any 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

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

FAQ

What were the total gross proceeds from Peridot Acquisition Corp. II's IPO?

The total gross proceeds from the IPO reached $408,454,760.

When did the units begin trading for PDOT-UN?

The units began trading on March 9, 2021.

What is the focus of Peridot Acquisition Corp. II's investment strategy?

The company is targeting investments in environmentally sound infrastructure and technologies that reduce greenhouse gas emissions.

What do the units of Peridot Acquisition Corp. II consist of?

Each unit consists of one Class A ordinary share and one-fifth of one warrant.

What is the exercise price for the warrants issued by Peridot Acquisition Corp. II?

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