Late last week, two more SPACs or blank check companies went public via an Initial Public Offering (IPO).
GoGreen Investments upsized its IPO and raised $240 million. The company is based in downtown Houston and is seeking companies in the clean/renewal energy space.
The company is led by CEO John Dowd, who is based in Massachusetts. He spent 14 years as a portfolio manager of the energy and natural resources sector funds of Fidelity Research and Management.
The CFO is Michael Sedoy, a former portfolio manager at various hedge funds on the east coast. He worked alongside Mr. Dowd, for a short period, at Sanford Berstein in New York
Newhold Investment II raised $175 million. The company is targeting businesses involved in advanced robotics, the Internet of Things, Software as a service with machine learning or new energy technologies.
The company is led by Kevin Charlton, who has taken a number of SPACs public in recent years. He has also worked for McKinsey, NASA and JP Morgan in his career.
One of the SPACs taken public was Newhold I which raised $150 million in July 2020 and took Boston-based Evolv Technology public in July 2021 in a deal that valued the business at $1.25 billion. Evolve is a leader in AI touchless security screening.
A third Houston-based SPAC, SportsMap Tech Acquisition went public earlier in the week.