ClimateRock Announces Closing of $75.0 Million Initial Public Offering

United Kingdom, May 02, 2022 (GLOBE NEWSWIRE) --  ClimateRock (the “Company”), a newly organized blank check company incorporated as a Cayman Islands exempted company and led by Chairman, Charles Ratelband V and CEO, Per Regnarsson, announced today the closing of its previously announced initial public offering of 7,500,000 units. In addition, the underwriters’ partially exercised the over-allotment option to purchase an additional 375,000 units. The units were sold at an offering price of $10.00 per unit, resulting in total gross proceeds of $78.75 million. Each unit consists of one Class A ordinary share, one-half (1/2) of one redeemable warrant and one right to receive one-tenth (1/10) of one Class A ordinary share. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share, and each ten (10) rights entitle the holder thereof to receive one Class A ordinary share at the closing of a business combination. The exercise price of the warrants is $11.50 per whole share. The units began trading on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “CLRCU” on April 28, 2022. Once the securities comprising the units begin separate trading, the Class A ordinary shares, warrants and rights will be traded on Nasdaq under the symbols “CLRC,” “CLRCW,” and “CLRCR,” respectively.

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