Brief: Opal Fuels To List On Nasdaq Through Merger With ArcLight Clean Transition Corp II

Opal Fuels

02/12/2021 11:34

Dec 2 (Reuters) - ArcLight Clean Transition Corp II
 ACTD.O :
    * OPAL FUELS, A LEADING VERTICALLY INTEGRATED PRODUCER AND
DISTRIBUTOR OF RENEWABLE NATURAL GAS, TO LIST ON NASDAQ THROUGH
COMBINATION WITH ARCLIGHT CLEAN TRANSITION CORP. II
    * ARCLIGHT CLEAN TRANSITION CORP II - AFFILIATES OF NEXTERA
ENERGY
HAVE MADE A COMMITMENT FOR UP TO A $100 MILLION PREFERRED EQUITY
INVESTMENT IN OPAL FUELS
    * ARCLIGHT CLEAN TRANSITION CORP II - BUSINESS VALUES OPAL
FUELS
AT AN IMPLIED $1.75 BILLION PRO FORMA ENTERPRISE VALUE AT PRICE
OF $10.00 PER ARCLIGHT SHARE
    * ARCLIGHT CLEAN TRANSITION CORP II - TRANSACTION AND
RELATED
FINANCINGS ARE EXPECTED TO PROVIDE GROSS PROCEEDS OF
APPROXIMATELY $536 MILLION TO OPAL FUELS
    * ARCLIGHT CLEAN TRANSITION CORP II - DEAL INCLUDES A $125
MILLION
FULLY COMMITTED COMMON STOCK PIPE AT $10.00 PER SHARE ANCHORED
BY NEXTERA ENERGY, INC., OTHERS
    * ARCLIGHT CLEAN TRANSITION CORP II - COMBINED CO TO BE
NAMED OPAL
FUELS INC. & REMAIN LISTED ON NASDAQ STOCK EXCHANGE UNDER TICKER
SYMBOL "OPL"
    * ARCLIGHT CLEAN TRANSITION CORP II - COMBINED CO WILL
CONTINUE TO
BE LED BY OPAL FUELS CO-CEOS ADAM COMORA AND JONATHAN MAURER
    * ARCLIGHT CLEAN TRANSITION CORP II - DEALS EXPECTED TO
PROVIDE
GROSS PROCEEDS OF ABOUT $536 MILLION TO FUND CONSTRUCTION OF
OPAL FUELS' RNG DEVELOPMENT PIPELINE

Source text for Eikon:  ID:nPnbLVMrSa 
Further company coverage:  ACTD.O 

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