CleanTech Acquisition Corp. has closed its initial public offering of 15,000,000 units at a price of $10.00 per unit. The units are listed on the Nasdaq Capital Market and began trading under the ticker symbol “CLAQU.” Each unit consists of one share of common stock, par value $0.0001, one right and one-half of one redeemable warrant. Each right entitles the holder thereof to receive one-twentieth of one share of common stock upon the consummation of an initial business combination. Each warrant entitles the holder thereof to purchase one share of common stock at a price of $11.50 per whole share. Once the securities comprising the units begin separate trading, the shares of common stock, rights and warrants are expected to trade on Nasdaq under the symbols “CLAQ,” “CLAQR” and “CLAQW,” respectively.
Chardan acted as sole book-running manager of the offering. The company has granted the underwriters a 45-day option to purchase up to an additional 2,250,000 units at the initial public offering price to cover over-allotments, if any.
CleanTech plans to seek a business combination that aims to contribute towards the mission of shifting the world away from carbon dependency and facilitating a greener future.