Kuala Lumpur, Malaysia – 
“Company”) announced today that it priced its initial public offering of $100
million, consisting of 10,000,000 units at $10.00 per unit. The units will be
listed on the Nasdaq Global Market (“Nasdaq”) and are expected to begin trading
tomorrow, Tuesday, November 16, 2021, under the ticker symbol “ENCPU”. Each
unit consists of one the Company’s Class A ordinary shares and one redeemable warrant
entitling the holder thereof to purchase one Class A ordinary share at a price
of $11.50 per share. Once the securities comprising the units begin separate
trading, the Class A ordinary shares and warrants are expected to be listed on
Nasdaq under the symbols “ENCP” and “ENCPW,” respectively.
The Company
is a blank check company formed for the purpose of effecting a merger, capital
share exchange, asset acquisition, share purchase, reorganization or similar
business combination with one or more businesses. While the Company may pursue
an initial business combination target in any business or industry, it intends to focus on the energy industry. The Company is led by Chief Executive
Officer, Mr. Swee Guan Hoo.
EF Hutton, division of Benchmark Investments,
LLC, is acting as sole book running manager for the offering. The Company has granted the underwriters a 45-day option
to purchase up to an additional 1,500,000 units at the initial public offering
price to cover over-allotments, if any. The offering is expected to close on November
18, 2021, subject to customary closing conditions.
The offering
is being made only by means of a prospectus. Copies of the prospectus may be
obtained, when available, from EF Hutton, division of Benchmark Investments,
LLC, Attn: Syndicate Department, 590 Madison Ave., 39th Floor, New York, New
York 10022, by telephone at (212) 404-7002, by fax at (646) 861-4697, or by
email at syndicate@efhuttongroup.com.
A
registration statement relating to these securities has been filed with, and
declared effective by, the Securities and Exchange Commission on November 15,
2021. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described herein, nor
shall there be any sale of these securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state or
jurisdiction.
FORWARD-LOOKING
STATEMENTS
This press
release contains statements that constitute “forward-looking statements,”
including with respect to the initial public offering and the anticipated use
of the net proceeds. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that the net
proceeds of the offering will be used as indicated. Forward-looking statements
are subject to numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of the Company’s
registration statement and preliminary prospectus for the offering filed with
the Securities and Exchange Commission (“SEC”). Copies are available on the
SEC’s website, www.sec.gov. The Company undertakes no obligation to update
these statements for revisions or changes after the date of this release,
except as required by law.
Contact
Level
10, Tower 11, Avenue 5, No. 8,
Jalan
Kerinchi, Bangsar South
59200
Wilayah Persekutuan Kuala Lumpur, Malaysia
Attn:
Swee Guan Hoo
Chief
Executive Officer
sghoo@energemcorp.com
+
(60) 3270 47622