CleanTech Acquisition Corp. Announces Exercise of $22.5 Million Over-Allotment Option by Underwriters
July 28 2021 - 4:54PM
CleanTech Acquisition Corp. (the "Company") announced today that
the underwriters of its initial public offering exercised their
over-allotment option to the extent of 2,250,000 units and
purchased such units on July 28, 2021. The 17,250,000 units sold in
the offering, including the 2,250,000 units subject to the
over-allotment option, were sold at an offering price of $10.00 per
unit, generating gross proceeds of $172,500,000 to the Company.
Each unit sold by the Company consists of one share of common
stock, par value $0.0001, one right and one-half of one redeemable
warrant. Each right entitles the holder thereof to receive
one-twentieth (1/20) of one share of common stock upon the
consummation of an initial business combination. Each warrant
entitles the holder thereof to purchase one share of common stock
at a price of $11.50 per whole share. Once the securities
comprising the units begin separate trading, the shares of common
stock, rights and warrants are expected to trade on Nasdaq under
the symbols "CLAQ," "CLAQR" and "CLAQW," respectively.
Chardan acted as solebook-running manager for the offering.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the "SEC") on July 14, 2021. 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. The offering was
made only by means of a prospectus, copies of which may be obtained
by contacting Chardan, 17 State Street, 21st Floor, New York, New
York 10004. Copies of the registration statement can be accessed
through the SEC's website at www.sec.gov.
About CleanTech Acquisition Corp.
CleanTech Acquisition Corp. is a blank check company formed for
the purpose of entering into a merger, share exchange, asset
acquisition, stock purchase, recapitalization, reorganization or
other similar business combination with one or more businesses or
entities. While CleanTech Acquisition Corp. may pursue an initial
business combination in any region or sector, CleanTech Acquisition
Corp. will seek to identify, through its management team’s
experience and expertise, a business that aims to contribute
towards the mission of shifting the world away from carbon
dependency and facilitating a greener future.
Forward Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward looking statements are
statements that are not historical facts. Such forward-looking
statements, including the Company’s search for an initial business
combination, are subject to risks and uncertainties, which could
cause actual results to differ from the forward-looking statements.
The Company expressly disclaims any obligations or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company's
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
Contact:
Eli SpiroChief Executive Officer, CleanTech Acquisition Corp.
(917) 699-5990
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