SPAC Highlights (Oct, 21 – Oct, 27)

EEW Renewables: Riding the Green Wave to Public Markets

EEW Renewables
Compass Digital Acquisition Corp. (CDAQ)

EEW Renewables, a global player in utility-scale renewable energy project development, is set to make a splash in public markets through a merger with Compass Digital Acquisition Corp. (NASDAQ: CDAQ / CDAQU / CADQW). This strategic move will provide EEW with the capital and visibility needed to accelerate its ambitious growth plans and capitalize on the rapidly expanding renewable energy market, which is expected to reach $2 trillion by 2030.

Founded in 2012, EEW boasts over a decade of experience in developing solar, battery storage, and green hydrogen projects. With a 1.5 GW portfolio spanning Europe and Australia, the company has established itself as a trusted partner in the transition to a sustainable energy future. EEW’s integrated approach and early focus on emerging technologies like green hydrogen and ammonia, which are crucial for decarbonizing heavy industry and transportation, give the company a significant competitive edge.

EEW’s business model is built on a two-pronged approach:

• Core Business: Developing and selling ready-to-build solar, battery storage, and green hydrogen projects. This allows EEW to leverage its expertise and recycle capital for new ventures.
• Evolving Business: Transitioning into an Independent Power Producer (IPP) by owning and operating select assets, generating recurring revenue and long-term value.

This diversified strategy positions EEW to capture value across the renewable energy value chain. The company’s focus on green hydrogen and ammonia is particularly noteworthy, as these emerging technologies are poised to play a crucial role in decarbonizing hard-to-abate sectors.

The merger with CDAQ values EEW at $386 million and provides access to $15 million in growth capital. Importantly, existing EEW shareholders will retain 79% ownership, underscoring their confidence in the company’s future.

Investcorp Backs Bigtincan’s Nasdaq Listing with $275 Million SPAC Deal

Bigtincan Holdings Limited
Investcorp AI Acquisition Corp. (IVCA)

Investcorp AI Acquisition Corp. (NASDAQ: IAAC, IAACU, IAACW), a special purpose acquisition company (SPAC), is merging with Bigtincan, an Australian sales enablement software company. The deal values Bigtincan at US$275 million and aims to list the combined entity on the Nasdaq stock exchange.

Key highlights include:

• Investcorp, IAAC’s sponsor, is investing US$12.5 million in the combined company.
• Bigtincan will seek to raise up to US$25 million from institutional investors and up to US$25 million in debt financing.
• Bigtincan shareholders will have the option to receive cash for their shares.
• The merged company will be named Bigtincan Limited.

The transaction is subject to various conditions, including approval by Bigtincan shareholders and regulatory bodies. Investcorp believes this merger will position Bigtincan as a global leader in AI-powered sales enablement software.

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