ADN - AMCI Group sets second SPAC IPO even as first target Advent Technologies sinks

Financial firm AMCI Group is launching a second decarbonization-focused SPAC even as Advent Technologies Holdings (ADN), a fuel-cell company that its first special purpose acquisition company recently bought, is sliding just days after that deal closed. AMCI filed an S-1 with the U.S. Securities and Exchange Commission S-1 to raise as much as $201.25M through an initial public offering for AMCI Acquisition Corp. II. The filing comes as ADN, which AMCI Acquisition Corp. I finalized a merger with on Feb. 4, was down some 4.7% at $14.44 as of about 2:30 p.m. ET Tuesday. The two companies agreed in October to a merger that valued Advent at about $358M. AMCI’s first and second SPACs both focused on decarbonization, or attempts to reduce carbon emissions that can cause global warming. The company wrote in AMCI Acquisition Corp. II’s IPO filing that decarbonization demand “has been growing due to government targets to

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AMCI Group sets second SPAC IPO even as first target Advent Technologies sinks