ESM Acquisition Corp. has offered holders of the units sold in the company’s initial public offering of 30,694,067 units the option to separately trade the Class A ordinary shares and redeemable warrants included in the units. Those units not separated will continue to trade on the New York Stock Exchange under the symbol “ESM.U,” and the Class A ordinary shares and redeemable warrants that are separated will trade on the NYSE under the symbols “ESM” and “ESM WS,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into Class A ordinary shares and redeemable warrants.
The company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company is led by chairman John Raymond, co-founder and CEO of private equity firm The Energy & Minerals Group, and CEO and director Sir Michael Davis, chairman of Vision Blue Resources Ltd. and former CEO of Xstrata, a global mining and metals companies. John Calvert, co-founder and president of EMG, serves as vice chairman of the company and Jeffrey Ball, a managing director of EMG, is CFO of the company. The company intends to focus on a target business that is positioned to benefit from the global transition towards a low carbon economy, including but not limited to the shift away from fossil fuels, the light-weighting and electrification of vehicles and the reduction of carbon emissions from key industrial processes.
The units were initially offered by the Company in an underwritten offering. Credit Suisse acted as the sole book-running manager of the offering.