Glenfarne Merger Corp. (GGMC) Prices 25M Unit IPO at $10/Unit

March 19, 2021 6:08 AM EDT

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Glenfarne Merger Corp. (NASDAQ: GGMC), a blank check company newly incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities in the energy transition and electrification sector in the Americas, today announced the pricing of its $250 million initial public offering.

The offering consists of 25,000,000 units at a price of $10.00 per unit. Each unit consists of one share of Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder to purchase one share of GGMC’s Class A common stock at a price of $11.50 per share, subject to adjustment, terms and limitations. The units are expected to be listed on The Nasdaq Capital Market and trade under the ticker symbol “GGMCU” beginning March 19, 2021.

GGMC is an affiliate of Glenfarne Group, LLC (“Glenfarne”), created to capitalize on the significant experience of Glenfarne’s senior management team, led by Founder and Managing Partner, Brendan Duval, in the infrastructure sector across the Americas. Founded in 2011, Glenfarne is a developer, owner-operator and asset manager of energy and infrastructure holdings across North and South America with two operating platforms: EnfraGen, which focuses on energy transition assets in grid stability and value-added renewables, and Alder Midstream, its gas infrastructure business.

Mizuho is acting as the sole book running manager for the offering. The underwriter has been granted a 45-day option to purchase up to an additional 3,750,000 units offered by the Company to cover over-allotments, if any, at the initial public offering price.

The offering is expected to close on March 23, 2021, subject to customary closing conditions.

The offering is being made only by means of a prospectus.



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