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Energem Corp., Black Mountain Acquisition Corp. File for IPOs -- SPAC Tracker

Dow Jones Newswires ·  Sep 18, 2021 02:00

SPAC Tracker is a weekly feature highlighting some of the special-purpose acquisition companies, also known as blank-check companies, that have filed for initial public offerings with the U.S. Securities and Exchange Commission during the past week.

Energem Corp.

Energem Corp. filed for a $100 million initial public offering on Sept. 10.

"We intend to focus our search for a target business in the energy value chain in South East Asia and Asia-Pacific region, with a particular focus on opportunities aligned with energy growth transition and sustainability themes," Energem said.

The company also said Swee Guan Hoo, its chief executive and a director, has been executive director of BCM Alliance Berhad since January 2021.

Black Mountain Acquisition Corp.

Black Mountain Acquisition Corp. filed for a $200 million IPO on Sept. 10.

The company said, "We intend to focus our search for a target business on opportunities and companies in the energy industry in North America."

Black Mountain Acquisition Corp. was established by Rhett Bennett, founder of the Black Mountain Entities, which include Black Mountain Oil & Gas LLC, Black Mountain Metals LLC, and Black Mountain Midstream LLC, the company said.

Berenson Acquisition Corp. I

Berenson Acquisition Corp. I filed for a $250 million IPO on Sept. 10.

The company said, "We intend to focus our search on a target business operating in the software and technology-enabled services industry with a total enterprise value in excess of $1 billion."

The company said its sponsor, Berenson SPAC Holdings I LLC, is affiliated with merchant bank Berenson Holdings LLC. The company also said an affiliate of private-equity firm Navigation Capital Partners LLC is an investor in its sponsor.

Phoenix Biotech Acquisition Corp.

Phoenix Biotech Acquisition Corp. filed for a $155 million IPO on Monday.

The company said it plans to focus on healthcare or healthcare-related industries in the U.S. and Europe, and also said, "In particular, we intend to prioritize companies in the life-sciences sector where our management team has extensive experience."

Phoenix Biotech Acquisition said members of its management team were involved with blank-check company Locust Walk Acquisition Corp., which completed a business combination with eFFECTOR Therapeutics Inc. last month. Shares of the combined company, eFFECTOR Therapeutics Inc., trade on the Nasdaq under the symbol "EFTR."

Arbor Rapha Capital Bioholdings Corp. I

Arbor Rapha Capital Bioholdings Corp. I filed for a $150 million IPO on Tuesday.

The company said, "We intend to capitalize on our management team's experience and expertise to identify attractive acquisition opportunities in the biopharmaceutical sector, with a focus on disruptive technologies with the potential to transform healthcare and dramatically improve the lives of patients."

Arbor Rapha Capital Bioholdings also said its sponsor, Arbor Rapha Capital LLC, is affiliated with investment management firm Rapha Capital Management LLC and with financial, strategic and transaction advisory services firm RNA Advisors LLC.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

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