CleanTech SPAC sinks after shareholders OK Nauticus merger
07/09/2022 20:31
** Shares of CleanTech Acquisition Corp CLAQ.O down 27.5%
at $6.85 after shareholders approved combination with Nauticus
Robotics Inc
** CLAQ shares sink as much as 40.6% to $5.61 on the session
** Special-purpose acquisition company CleanTech said in
filing https://www.sec.gov/ix?doc=/Archives/edgar/data/1849820/000121390022054213/ea165396-8k_cleantech.htm
late Tues holders of ~74% of total outstanding shares voted in
favor of ~$560 mln deal to take Nauticus public
** The filing also said holders of roughly 362,000 shares
tendered their stock for redemption
** Nauticus, a Houston-based developer of cloud-based
surface and subsea robots, software, and associated services,
agreed to merger in Dec urn:newsml:reuters.com:*:nFWN2T20KH urn:newsml:reuters.com:*:nGNX9CSbVR
** Deal at the time to provide Nauticus $222 mln, including
$73 mln PIPE (private investment in public equity) consisting of
equity and convertible notes anchored by Schlumberger SLB.N ,
Transocean RIGN.S and AeroVironment AVAV.O
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))