This Carbon Solutions Firm Looks To Go Public Via $2.2B SPAC Merger With AMCI

LanzaTech NZ Inc looks to go public via a special purpose acquisition company (SPAC) AMCI Acquisition Corp II (NASDAQ:AMCIW), the Wall Street Journal reports.
The SPAC deal values the carbon-capture and transformation company at ~$2.2 billion.
LanzaTech traps carbon emitted during industrial processes and uses bacteria to convert the waste gas into sustainable chemicals such as ethanol.
LanzaTech is one of many companies developing solutions to decarbonize high-emitting industries through carbon capture and reuse.
Companies like Chinese steelmaker Shougang Group Co add LanzaTech’s use this technology into their manufacturing process. At the same time, buyers of the resulting end products include consumer-products maker Unilever PLC (NYSE:UL) and beauty company Coty Inc (NYSE: COTY).
The cash raised from the SPAC deal will help increase the adoption of LanzaTech’s process and bring down costs.
LanzaTech will likely raise a $125 million private investment in public equity (PIPE) from investors including ArcelorMittal SA (NYSE: MT), Basf SE (OTC: BASFY), and Khosla Ventures.
Price Action: AMCI shares traded higher by 0.82% at $9.78 on the last check Tuesday.

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