Business
LANZATECH NZ, INC., A MARKET-LEADING INNOVATOR IN CARBON CAPTURE & TRANSFORMATION, TO GO PUBLIC THROUGH BUSINESS COMBINATION WITH AMCI ACQUISITION CORP. II
- LanzaTech NZ, Inc. ("LanzaTech") has entered into a definitive merger agreement with AMCI Acquisition Corp. II ("AMCI") (Nasdaq: AMCI); upon closing, the
About this update from Lanzatech Global, Inc.
[{"type":"text","content":"- LanzaTech NZ, Inc. (\"LanzaTech\") has entered into a definitive merger agreement with AMCI Acquisition Corp. II (\"AMCI\") (Nasdaq: AMCI); upon closing, the combined company is expected to trade on Nasdaq under the ticker symbol \"LNZA\".\n - Founded in 2005, LanzaTech is a leading Carbon Capture and Transformation (\"CCT\") company combining synthetic biology and engineering to transform waste carbon into materials and high-value products representing a total addressable market opportunity of over $1 trillion, including sustainable fuels, fabrics and packaging that people use in their daily lives.\n - LanzaTech's CCT technology can provide a profitable pathway to achieving the decarbonization goals of participants in many industries, as CCT technologies are expected to increasingly be used within industrial sectors of the economy as a critical method used to reduce greenhouse gas (\"GHG\") emissions and meet mandates and climate goals.\n - LanzaTech has amassed a list of well-known, blue-chip customers, investors and partners including ArcelorMittal, BASF, CITIC Capital, Coty, IndianOil Company, K1W1, Khosla Ventures, Lululemon, Mitsui & Co., LTD., New Zealand Superannuation Fund, Primetals Technologies, Qiming Ventures, Sekisui, Sinopec, Suncor Energy, Unilever, and Virgin Atlantic.\n - LanzaTech spun out sustainable aviation fuel company, LanzaJet, in 2020, whose investors and funders include All Nippon Airways, British Airways, Mitsui & Co., LTD., Suncor Energy, Shell, and the Microsoft Climate Innovation Fund.\n - The transaction is expected to raise gross proceeds of approximately $275 million, comprised of AMCI's $150 million of cash held in trust (assuming no redemptions by AMCI's public stockholders) and a committed common equity PIPE of approximately $125 million, at $10.00 per share, by investors AMCI, ArcelorMittal, BASF, K1W1, Khosla Ventures, Mitsui & Co., LTD., New Zealand Superannuation Fund, Oxy Low Carbon Ventures LLC, Primetals Technologies, SHV Energy and Trafigura.\n - LanzaTech stockholders will roll 100% of their equity holdings into common stock of the new public combined company in exchange for their LanzaTech shares.\n - Proceeds raised from the transaction are expected to fund the execution of LanzaTech's business plan, accelerate commercial operations, fund capital requirements associated with deve...