Footprint to go public via SPAC merger. How to buy this green stock?

2 min read | December 15, 2021 05:46 AM EST | By Raza Naqvi

Footprint to go public via SPAC merger. How to buy this green stock? — Image source: © Demidovichphotostock | Megapixl.com

Footprint SPAC: Here's what you must know

As part of the transaction, the combined entity is expected to value around US$ 1.6 billion after the deal is closed. The Gilbert, Arizona-based company is expected to receive US$ 805 million in net proceeds, and this includes US$ 345 million from Gore Holdings' trust account.

Notably, the net proceeds comprise an oversubscribed private investment in public equity of US$ 460 million, which includes a US$ 150 million investment from investors.

Also Read: Better.com SPAC: What you must know as CEO Vishal Garg takes leave

Once the deal closes, Footprint will list its shares on the Nasdaq and trade under the stock symbol FOOT.

As of now, Footprint remains private and retail investors don't have an option of buying its shares.

If and when the company goes public, equity market trades will have an option to buy the FOOT stock through trading platforms of brokerage companies.

Bottom line

Established in 2014, Footprint was started to address climate change issues. It helps companies to lower their carbon footprint.

Footprint's clients include major companies like McDonald's, Nestle, Walmart, and Kraft Heinz Co.

As governments are committed to reducing carbon emissions, private companies could partner up with Footprint to fight climate change.

The focus on Environmental, Social, and Governance (ESG) policies is increasing, and Footprint could benefit from it in future.

Also Read: Solid Power to go public. How to buy the EV battery maker’s SLDP stock?

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