M&A
confidence high
sentiment neutral
materiality 0.55
AMCI amends LanzaTech merger: lowers minimum cash to $230M, extends deadline to Feb 28, 2023
LanzaTech Global, Inc.
- Minimum closing cash reduced from $250M to $230M, including net proceeds from AM SAFE and Brookfield SAFE.
- Outside date extended from Dec 7, 2022 to Feb 28, 2023.
- Brookfield SAFE may be assumed post-closing if unexercised; LanzaTech's termination right for insufficient PIPE removed.
- Sponsor support agreement amended: promote shares forfeiture reduced by shares transferred under non-redemption agreements.
- PIPE investors consent to amendments; subscription agreement outside date also extended to Feb 28.