Lakewood Ranch, Florida-based EGH Acquisition Corp. (EGHAU), an energy transition-focused SPAC, raised $150 million by pricing its SPAC IPO in sync with the terms in the prospectus – 15.0 million units at $10.00 each – on Thursday night, May 8, 2025. EGH Acquisition Corp. opened today – Friday, May 9, 2025 – at $10.02 – up 2 cents from its IPO price – on NASDAQ volume of about 1.49 million shares, according to NASDAQ. At Friday’s closing bell, EGH Acquisition Corp. was at $10.03 – up 3 cents from its IPO price – on NASDAQ volume of about 9.05 million shares.
Each unit consists of one Class A ordinary share of stock and one right to receive one-tenth (1/10th) of a share upon the consummation of an initial business combination.
Cohen & Company Capital Markets was the sole book-runner.
EGH Acquisition Corp. is incorporated in the Cayman Islands.
In the prospectus, EGH Acquisition Corp. said that its search for target companies will include “companies implementing advanced technologies to modernize the aging grid infrastructure, provide and manage power, enhance renewable energy capacity, install and maintain energy distribution infrastructure, and improve electricity transmission efficiency,” according to the prospectus.
EGH Acquisition Corp. pointed out in the prospectus that “over 70 percent of U.S. transmission and distribution power transformers are more than 25 years old, and according to the U.S. Department of Energy, independent estimates predict that there will be a need for a 60 percent increase in electricity transmission by 2030 to meet growing clean energy demands. As a result, we see significant opportunities in this and adjacent sectors.”
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