Business
LanzaTech and AMCI Acquisition Corp. II Announce Closing of Business Combination, Establishing First Public Carbon Capture and Transformation Company
On February 10, 2023, LanzaTech’s common stock and public warrants expected to begin trading on Nasdaq under the ticker symbols LNZA and LNZAW, respectively
About this update from Lanzatech Global, Inc.
[{"type":"text","content":"\nOn February 10, 2023, LanzaTech’s common stock and public warrants expected to begin trading on Nasdaq under the ticker symbols LNZA and LNZAW, respectively\n\nTotal transaction proceeds of approximately $240 million expected to fund business plan through estimated cashflow breakeven in 2024\n\n CHICAGO & GREENWICH, Conn.--(BUSINESS WIRE)--\nLanzaTech Global, Inc. (“LanzaTech”), formerly known as AMCI Acquisition Corp. II (“AMCI”), today announced the completion of its previously announced business combination between AMCI and LanzaTech NZ, Inc., an innovative carbon capture and transformation (“CCT”) company that converts waste carbon into materials such as sustainable fuels, fabrics, packaging and other products that people use in their daily lives. LanzaTech is the first CCT company to become public in the United States.\n\nIn connection with the closing of the business combination, AMCI has been renamed LanzaTech Global, Inc. and on February 10, 2023 its common stock is expected to begin trading on the Nasdaq under the ticker symbol LNZA and its public warrants are expected to begin trading on Nasdaq under the ticker symbol LNZAW.\n\n“LanzaTech’s revolutionary, commercially scaled technology offering, top quality team led by Chairwoman and CEO, Jennifer Holmgren, and visible path to rapid, profitable growth in the near term, provided all the elements necessary for a successful transaction in line with the original strategy we established at the time of our founding,” stated Nimesh Patel, former CEO of AMCI and current director of LanzaTech. “We are very excited by the tremendous opportunities presented by LanzaTech as its CCT technology is deployed at scale.”\n\n“We are thrilled to complete this transaction, partnering with Nimesh Patel and the AMCI team and take the next steps towards accelerating the wide-spread deployment of our commercially scaled, CCT technology and ultimately the development of the circular carbon economy our world needs.” said Jennifer Holmgren, Chairwoman and CEO of LanzaTech. “We believe that the completion of the transaction and our status as a new public company will help facilitate our ambitious growth plans and accelerate the validation and, ultimately, the deployment of our revolutionary CCT technology in the eyes of the market.”\n\nCommercially Scaled Technology to Implement the Circular Car...