CPE News (9/20/2021) – Genesis Climate Solutions Corporation has filed a preliminary prospectus in connection with a proposed initial public offering (IPO) of units (common shares and warrants) with terms to be announced.
Northern Genesis Investments Corporation, the investment manager, will purchase an aggregate of offered units on a non-brokered private placement. Closing of the IPO is conditional on the closing of the management investment.
Genesis Climate Solutions has applied to list the offered units on the TSX under the symbols “NGCS” and “NGCS.WT”, respectively, via the TSX Sandbox.
The underwriting syndicate is being led by TD Securities Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and including CIBC World Markets Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Desjardins Securities Inc., Raymond James Ltd. and iA Private Wealth Inc.
Goodmans LLP and Torys LLP act as legal counsel to Genesis Climate Solutions Corporation and the underwriters.
Genesis Climate Solutions is a capital investment and management platform focused on investment opportunities aligned with society’s transition to a sustainable energy future in (i) businesses involved in renewable electricity and fuels; (ii) energy efficiency opportunities and net zero carbon intensity transition; (iii) mobility transformation including transportation electrification and charging infrastructure; (iv) sustainable water and wastewater related businesses; and (v) other carbon reduction enabling opportunities.
Genesis Climate Solutions intends to invest in equity, debt and/or hybrid securities of high-quality growth to late stage private businesses and/or direct ownership interests in operating assets.
Northern Genesis Investments Corporation’s affiliates Northern Genesis Sponsor LLC, Northern Genesis Sponsor II LLC, and Northern Genesis Sponsor III LLC. are the sponsor of SPACs, Northern Genesis Acquisition Corp. (Qualifying Acquisition – Lion Electric (NYSE/TSX: LEV)), Northern Genesis Acquisition Corp. II (Pending Qualifying Acquisition – Embark Trucks, Inc.), and Northern Genesis Acquisition Corp. III (NYSE: NGC.U) respectively.
photo credit: Northern Genesis Investments Corporation