SPAC AMCI Acquisition to take LanzaTech public via $2.2 bln deal

Advent Technologies Holdings

08/03/2022 12:37

** Blank-check firm AMCI Acquisition Corp II  AMCI.O  edges
up 1.55% at $9.85 premarket 
    ** Carbon recycling tech firm LanzaTech NZ Inc said on
Tuesday it plans to go public by merging with co in a deal that
values it at $2.2 bln  urn:newsml:reuters.com:*:nL3N2VB2R1
    ** Deal expected to generate proceeds up to $275 mln,
including $125 million of private investment in public equity
(PIPE) by investors ArcelorMittal, BASF, K1W1, and Khosla
Ventures among others
    ** Proceeds also include $150 mln from the special purpose
acquisition company's (SPAC) trust account, assuming no
redemptions
    ** Blank-check firms, or SPACs, are publicly listed shell
companies that raise funds to merge with private companies,
thereby taking them public
    ** After the deal closes, LanzaTech expects to list on the
Nasdaq under the new ticker symbol 'LNZA'

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))