ST Energy Transition I Ltd. (STET.U) Prices $250M IPO


ST Energy Transition I Ltd. (STET.U) Prices $250M IPO

ST Energy Transition I Ltd. announced the pricing of its $250 million IPO and its units are expected to begin trading on the NYSE under the symbol “STET.U” Friday, December 3.

The new SPAC intends to focus its search on opportunities that contribute in positive ways towards energy transition and clean energy technology. ST Energy Transition I Ltd. is led by Chairman John Fredrikson, CEO Gunnar Eliassen, and CFO Jan Erik Klepsland.

Total SPAC deal count for 2021 year-to-date is now 571. This offering is expected to close on Tuesday, December 7.

Morgan Stanley is acting as sole bookrunning manager and joint lead manager and DNB Markets is acting as joint lead manager in the offering. Skadden, Arps, Slate, Meagher & Flom LLP is serving as Issuer’s Counsel with  Kirkland & Ellis LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.