MENLO PARK, Calif.,
Oct. 26, 2020 /PRNewswire/ --
Decarbonization Plus Acquisition Corporation (the "Company"), a
blank check company sponsored by an affiliate of Riverstone
Holdings LLC ("Riverstone"), today announced the closing of its
initial public offering ("IPO") of 20,000,000 units at a price of
$10.00 per unit. The Company's units
began trading on the Nasdaq Capital Market ("NASDAQ") under the
ticker symbol "DCRBU" on October 20,
2020. Each unit issued in the IPO consists of one share of
the Company's Class A common stock and one-half of one redeemable
warrant, with each whole warrant entitling the holder thereof to
purchase one share of the Company's Class A common stock at an
exercise price of $11.50 per share.
Once the securities comprising the units begin separate trading,
the shares of Class A common stock and warrants are expected to be
listed on NASDAQ under the symbols "DCRB" and "DCRBW,"
respectively.
The Company was formed for the purpose of effecting a merger,
capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with a target whose
principal effort is developing and advancing a platform that
decarbonizes the most carbon-intensive sectors. These include the
energy and agriculture, industrials, transportation and commercial
and residential sectors.
Robert Tichio, Chairman of the
Company's Board and a Partner at Riverstone, said, "We are
excited to announce this important milestone, and we are grateful
for the support received from a broad group of investors who share
our commitment to identifying a differentiated private company that
is helping the world move toward a low-carbon future. There is
tremendous potential for the environment and investors alike, as a
multitude of industries are actively seeking ways to reduce their
carbon footprint. Significant pools of capital are beginning to
form and investor interest will be redirected towards these
critical and innovative initiatives well into the future."
Mr. Tichio continued, "On behalf of the Board, we are very
pleased to have Erik Anderson serve
as Chief Executive Officer of the Company. Erik's leadership,
skills and experience as both an entrepreneur and an investor in
the innovation economy will provide the Company access to the
disruptive thinking that has the potential to scale up solutions
for climate change."
Erik Anderson, Chief Executive
Officer, said, "Today begins a new chapter with a clear vision,
to pursue scalable solutions to decarbonize the global economy.
With our truly diverse Board, comprised of talented and
accomplished investors, academics and entrepreneurs, our Company is
ideally situated to identify a superb, impactful company with which
to consummate a transaction and to accelerate a low-carbon
future. We are eager to get to work on behalf of our
stockholders, and look forward to building a company founded on
purpose."
Pierre Lapeyre, Jr. and
David Leuschen, Co-founders of
Riverstone, said, "Decarbonization Plus Acquisition Corporation
represents a further expansion of our 15-year franchise in
low-carbon investments. During that time, we have established a
number of industry leading companies of scale and numerous related
projects, with more than $5 billion
of equity to date. The IPO adds to the breadth of Riverstone's
efforts and underscores the support from long-term and new
investors. We believe that decarbonization will be a multi-decade
investment megatrend and that Riverstone is well positioned, with
deep experience, to make a significant impact for the environment
and our investors. Having raised $1.4
billion in new capital across our low-carbon portfolio this
year alone, we are actively furthering our efforts to address
climate change with this new investment."
Citigroup and Credit Suisse acted as joint book running managers
for the offering. The Company has granted the underwriters a 45-day
option to purchase up to an additional 3,000,000 units at the IPO
price. Alvarium MB (UK) Limited provided certain financial
consulting services in connection with the offering.
The offering was made only by means of a prospectus, copies of
which may be obtained from Citigroup Global Markets Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, at
1-800-831-9146 or by email at Prospectus@citi.com or Credit Suisse
Securities (USA) LLC, Attention:
Prospectus Department, Eleven Madison Avenue, 3rd floor,
New York, NY 10010, by telephone
at 1-800-221-1037, or by email at
usa.prospectus@credit-suisse.com. A registration statement
relating to these securities was declared effective by the U.S.
Securities and Exchange Commission (the "SEC") on October 19, 2020. 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.
About Erik Anderson
Erik Anderson is a leader in
global innovation recognized throughout his career for his business
acumen and leadership. As the Founder and Chief Executive Officer
of WestRiver Group (WRG), Anderson is redefining the paradigm of
capital allocation with a transformative business model. The equity
platform is led by gender-balanced teams, which empirical evidence
suggests is correlated with better returns.
Anderson is a dynamic entrepreneur who challenges and disrupts
industries. He has received the Ernst & Young Entrepreneur of
the Year Award, was named by Goldman Sachs as one of the Top 100
Most Intriguing Entrepreneurs and was awarded the Transformative
CEO Award by The CEO Forum Group. Early in his career, Seattle's Puget Sound Business Journal
recognized Anderson as one of the top "40 under 40" young achievers
and emerging leaders. Erik is currently Executive Chairman of
Singularity University and Topgolf Entertainment Group. In
2019 and 2018 he was ranked by Golf Inc. as the No. 3 Most Powerful
Person in the golf industry.
Erik holds a master's and bachelor's degree in Industrial
Engineering from Stanford University
and graduated cum laude with a bachelor's degree in Management
Engineering from Claremont McKenna
College.
About Riverstone
Riverstone is an energy and power-focused private investment
firm founded in 2000 by David M.
Leuschen and Pierre F. Lapeyre,
Jr. with over $40 billion of
equity capital raised to date. Riverstone conducts buyout, growth
capital, and credit investments in the exploration &
production, midstream, oilfield services, power and renewable
sectors of the energy industry. With offices in New York, London, Houston, Menlo
Park, Mexico City and
Amsterdam, the firm has committed
over $41 billion to more than 195
investments in North America,
South America, Europe, Africa, Asia,
and Australia.
Forward Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
IPO. 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 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
Investor inquiries:
info@dcrbplus.com
Media:
Daniel Yunger
Kekst CNC
daniel.yunger@kekstcnc.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/decarbonization-plus-acquisition-corporation-completes-initial-public-offering-301159298.html
SOURCE Decarbonization Plus Acquisition Corporation