M&A
confidence high
sentiment neutral
materiality 0.90
ClimateRock signs $650M business combination agreement with E.E.W. Eco Energy World
ClimateRock
- Total consideration of $650M to be paid in Pubco ordinary shares; value per share set at ClimateRock redemption price.
- Merger structure: ClimateRock to merge with Pubco subsidiary, then Pubco to acquire all EEW shares via UK offer.
- Closing conditions include ClimateRock having ≥$5M net tangible assets after redemptions and ≥$40M cash at closing.
- Sponsor U.N. SDG Support agrees to vote in favor and waive anti-dilution; 180-day lock-up on post-closing shares.
- Outside date for closing is April 29, 2023; termination rights for material breach or failure to obtain shareholder approval.