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PIMCO SPAC Climate Real Impact Solutions raises $210m for IPO

Climate Real Impact Solutions II Acquisition Corporation, a blank check company formed by PIMCO, has raised $210 million for its IPO of 21 million shares at $10 per share.

Climate Real Impact Solutions II Acquisition Corporation, a blank check company formed by PIMCO, has raised $210 million for its IPO of 21 million shares at $10 per share. The stock began trading January 27, 2021 on the New York Stock Exchange under the ticker symbol “CLIM.U.” Barclays and BofA Securities are the underwriters.

PRESS RELEASE

PRINCETON, N.J.–(BUSINESS WIRE)–Climate Real Impact Solutions II Acquisition Corporation (the “Company”) today announced the pricing of its initial public offering of 21,000,000 units at a price of $10.00 per unit. The units are expected to be listed for trading on the New York Stock Exchange under the ticker symbol “CLIM.U” beginning January 27, 2021. Each unit consists of one share of the Company’s Class A common stock and one-fifth of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Company expects that its Class A common stock and warrants will be listed on the New York Stock Exchange under the symbols ‘‘CLIM” and ‘‘CLIM WS,’’ respectively.

The Company was 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. Although the Company’s efforts to identify a prospective business combination opportunity will not be limited to a particular industry, it intends to focus on businesses in the climate sector.

Barclays and BofA Securities are acting as joint book-running managers. The Company has granted the underwriters a 45-day option to purchase up to 3,150,000 additional units at the initial public offering price to cover over-allotments, if any.

The public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: (888) 603-5847, Email: barclaysprospectus@broadridge.com; and BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, Email: dg.prospectus_requests@bofa.com.

A registration statement relating to the securities became effective on January 26, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, 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. The offering is expected to close on January 29, 2021, subject to customary closing conditions.