Energem Corp. Announces Closing of Initial Public Offering and Exercise of Full Over-Allotment Option
18 Noviembre 2021 - 3:15PM
via NewMediaWire – Energem Corp. (the "Company") announced today
the closing of its initial public offering of 10,000,000 units at
$10.00 per unit. Each unit consists of one Class A ordinary share
and one redeemable warrant. Each warrant entitles the holder to
purchase one Class A ordinary share at a price of $11.50 per share.
The underwriters exercised their over-allotment option in full for
an additional 1,500,000 units at the time of the closing of the
Offering. As a result, the aggregate gross proceeds of the
Offering, including the over-allotment, are $115 million, prior to
deducting underwriting discounts, commissions, and other Offering
expenses.The units have been listed on the Nasdaq Global Market
(“Nasdaq”) and began trading on November 16, 2021, under the ticker
symbol “ENCPU”. Once the securities comprising the units begin
separate trading, the Class A ordinary shares and warrants are
expected to be listed on Nasdaq under the symbols “ENCP” and
“ENCPW”, respectively.
The Company is a blank check company formed for the purpose of
effecting a merger, capital share exchange, asset acquisition,
share purchase, reorganization, or similar business combination
with one or more businesses. While the Company may pursue an
initial business combination target in any business or industry, it
intends to focus on the energy industry. The Company is led by its
Chief Executive Officer, Mr. Swee Guan Hoo.
EF Hutton, division of Benchmark Investments LLC, served as the
sole book-running manager on the offering.
Rimon, P.C. served as legal counsel to the Company.
Lucosky Brookman LLP served as legal counsel to EF
Hutton.
The offering was made only by means of a prospectus. Copies of
the prospectus may be obtained from EF Hutton, division of
Benchmark Investments LLC, 590 Madison Ave., 39th Floor, New York,
NY 10022, Attention: Syndicate Department, or via email
at syndicate@efhuttongroup.com or telephone at (212)
404-7002.
The Securities and Exchange Commission ("SEC") declared
effective a registration statement on Form S-1 relating to these
securities on November 15, 2021. A final prospectus relating to
this offering has been filed with the SEC. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy any of the securities described herein, 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.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
Company's initial public offering and the anticipated use of the
net proceeds thereof. 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 final prospectus for the
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.
Contact
Energem Corp.Level 10, Tower 11, Avenue 5, No. 8,Jalan Kerinchi,
Bangsar South59200 Wilayah Persekutuan Kuala Lumpur, MalaysiaAttn:
Swee Guan HooChief Executive Officersghoo@energemcorp.com +
(60) 3270 47622
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