🌍💰 Houston's CO2 Energy Transition Corp. Raises $69M in IPO for CCUS Ventures 🌱

Houston-based CO2 Energy Transition Corp., a special purpose acquisition company (SPAC) focused on carbon capture, utilization, and storage (CCUS), successfully raised $69 million in its initial public offering (IPO) on November 22. The company sold 6 million units at $10 each, including the full exercise of the underwriter’s option to buy an additional 900,000 units. Each unit includes one share of common stock, a warrant to purchase a share at $11.50, and the right to one-eighth of a share under specific conditions. Targeting mid-sized CCUS companies valued between $150 million and $250 million, the SPAC aims to advance carbon reduction technologies in line with bipartisan legislative support. Led by Brady Rogers, the company will use the IPO proceeds to explore opportunities in the CCUS sector. Rogers also serves as CEO of Carbon Capture Development Co. and president of Antelope Energy Partners LLC. Kingswood Capital Partners LLC acted as the sole underwriter for the offering.