Investors
NEXT Renewable Fuels, Inc. and Industrial Tech Acquisitions II, Inc. (“ITAQ”) (Nasdaq: ITAQ), a special purpose acquisition company, signed a business combination agreement expected to result in a newly combined company to be known as NXTClean Fuels, Inc. The boards of directors of NXTClean and ITAQ have each approved the transaction.
ITAQ raised gross proceeds of approximately $172.5 million in its initial public offering. Its stock is traded on the Nasdaq Global Market. ITAQ’s objective is to identify and consummate an initial business combination with a target that can benefit from the investment, operating, and innovating experience of ITAQ’s management team and sponsor.
In the transaction, a newly formed subsidiary of ITAQ will merge with NXTClean, with NXTClean surviving as a wholly owned subsidiary of ITAQ. Pursuant to the merger, all pre-closing stockholders and holders of convertible debt of NXTClean will receive common stock of ITAQ, which will continue after the closing as a publicly traded company under the name NXTClean Fuels, Inc.
The transaction is filed with the Securities Exchange Commission.
Check back soon for more information.
Latest News
Articles
NEXT Renewable Fuels, Inc. and Dansuk Sign Memorandum of Understanding on Low-Carbon Feedstock Partnership
MOU Underpins Feedstock Confidence for NEXT; Expands Global Trading for Dansuk.
The Daily News Longview Endorses NEXT
A company called NEXT Renewable Fuels is trying to build a $2 billion renewable diesel biorefinery near Clatskanie…where the high-tech process will turn them into...
Renewable Fuel in NW Oregon
NEXT Renewable Fuels wants to enter a market that pivots away from fossil fuels. The future is here, NEXT says.
NEXT included in United’s Sustainable Flight Fund Investment
Investment vehicle supports start-ups focused on the reduction of carbon emissions in aviation through sustainable aviation fuel research, technology and production.