SDCL EDGE Acquisition Corporation Announces Closing of Partial Exercise of IPO Overallotment Option
SDCL EDGE Acquisition Corporation (the "Company") (NYSE: SEDA.U), a newly formed special purpose acquisition company, today announced that the underwriters of its previously announced initial public offering of units consisting of one Class A ordinary share of the Company, par value $0.0001 per share (the "Class A Ordinary Shares"), and one-half of one redeemable warrant of the Company (each, a "Warrant"), each whole Warrant entitling the holder thereof to purchase one Class A Ordinary Share for $11.50 per share (following the later of 30 days after the completion of the Company's initial business combination and 12 months from the closing of the Company's initial public offering), exercised their option to purchase an additional 2,495,246 units at the public offering price of $10.00 per unit, resulting in additional gross proceeds of approximately $24,952,460.
After giving effect to this partial exercise of the overallotment option, the total number of units sold in the public offering increased to 19,995,246 units. On November 16, 2021, simultaneously with the underwriters' exercise of the overallotment option, the Company consummated a private sale of an additional 748,574 private placement warrants to SDCL EDGE Sponsor LLC, the sponsor (598,860 private placement warrants), Seaside Holdings (Nominee) Limited (74,857 private placement warrants), and Sustainable Investors Fund, LP (74,857 private placement warrants), at a purchase price of $1.00 per private placement warrant, generating gross proceeds of $748,574.
Goldman Sachs & Co. LLC and BofA Securities, Inc. are acting as joint book-running managers for this offering.
Copies of the final prospectus related to the initial offering by the Company may be obtained for free by visiting Edgar on the website of the Securities and Exchange Commission ("SEC") at www.sec.gov or from Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282, Attn: Prospectus Department, by telephone at 866-471-2526, facsimile at 212-902-9316 or by emailing [email protected] or BofA Securities, Inc., NC1-004-03-43, Attn: Prospectus Department, at 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001 or by email at [email protected].
A registration statement relating to the securities was filed with, and declared effective by, the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About SDCL EDGE Acquisition Corporation
SDCL EDGE Acquisition Corporation is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on opportunities created by the rapid shift towards energy efficient and decentralized energy solutions for a lower carbon economy and, in particular, for the built environment and transport sectors.
Forward-Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the use of proceeds from the Company's initial public offering and the listing on NYSE of the shares and warrants underlying the units. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, general market conditions. These forward-looking statements speak only as of the date of this press release, and the Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the expectations of the Company with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the "Risk Factors section" of the prospectus related to the Company's initial public offering.
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