CENAQ Energy Corp. closes IPO of 15M units at $10/unit, trust account reaches $174.2M with over-allotment

Verde Clean Fuels, Inc.

IPO of 15,000,000 units at $10.00 each grossed $150,000,000; private placement of 6,000,000 warrants at $1.00 each grossed $6,000,000.
Underwriters exercised over-allotment on Aug. 19, 2021: additional 2,250,000 units at $10.00 each ($22.5M) and 675,000 private warrants ($0.675M).
Total trust account balance after over-allotment: $174,225,000 held at J.P. Morgan Chase with Continental Stock Transfer as trustee.
Each unit consists of one share of Class A common stock and three-quarters of one redeemable warrant exercisable at $11.50 per whole warrant.
As of Aug. 17, 2021, audited balance sheet shows $151.5M trust account, $1.2M cash, and $142.2M in Class A common stock subject to possible redemption.

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