Deal Description: Clean Earth Acquisitions Corp. announced the pricing of its initial public offering of 20,000,000 units, at a price of $10.00 per unit, with each unit consisting of one share of Class A common stock; one right; and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share, and each right entitles the holder thereof to receive one-tenth of one share of Class A common stock upon consummation of an initial business combination.
The units will be listed for trading on the Nasdaq Global Market, or Nasdaq, under the symbol “CLINU” beginning on February 24, 2022. Once the securities comprising the public units begin separate trading, the Class A common stock, rights and warrants will be traded on Nasdaq under the symbols “CLIN,” “CLINR” and “CLINW,” respectively.
Clean Earth Acquisitions Corp. is a special purpose acquisition company, or SPAC, that plans to pursue a business combination with a business that serves key and evolving segments in the clean energy ecosystem, including carbon, hydrogen, sustainable agriculture, and renewable energy. Additional areas of focus will be energy storage, distributed electrical grid, zero-emission transportation, utilization, low or carbon-free industrial applications and sustainable manufacturing.
Baker Botts acted as legal counsel to the underwriters, led by Citigroup Global Markets Inc. Jones Trading acted as co-manager.
Baker Botts Lawyers/Offices Involved:
Corporate: Doug Getten (Partner, Houston), Travis Wofford (Partner, Houston), Parker Hinman (Associate, Houston) and Will Cozzens (Associate, Austin)
Tax: Michael Bresson (Partner, Houston) and Jared Meier (Senior Associate, Houston)
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