Altus Power, Inc. Announces the Results of the Completed Redemption of all Outstanding Public and Private Warrants
October 20 2022 - 4:30PM
Business Wire
Altus Power, Inc. (NYSE: AMPS) (“Altus Power” or the “Company”),
the premier independent developer, owner and operator of
commercial-scale solar facilities, today announced the results of
the completed redemption of all of its outstanding public warrants
(the "Public Warrants") and private warrants (the “Private
Warrants” and together with the Public Warrants, the “Warrants”) to
purchase shares of the Company's Class A common stock, par value
$0.0001 per share (the “Class A Common Stock"), that were issued
under the Warrant Agreement, dated December 10, 2020, by and
between the Company (f/k/a CBRE Acquisition Holdings, Inc.) and
Continental Stock Transfer & Trust Company as warrant agent.
The Public Warrants were issued as part of the units sold in the
Company's initial public offering (the "Offering”). The Private
Warrants were issued in private placement that was conducted
simultaneously with the Offering.
On September 15, 2022, the Company issued a press release
stating that it would redeem all of the Warrants that remained
outstanding after 5:00 p.m. New York City time on October 17 2022,
(the “Redemption Date”) for a redemption price of $0.10 per
Warrant.
In connection with our notice of redemption, which was delivered
to all holders of the Warrants on September 15, 2022, holders of
8,462 public and private placement warrants exercised their
Warrants with the payment of cash and the Company received $93,082
of cash proceeds. Holders of 5,323,643 public warrants and
9,366,667 private placement warrants exercised their Warrants on a
cashless basis in exchange for 4,058,845 shares of Class A Common
Stock per Warrant. A total of 100,209 Warrants remained unexercised
as of the Redemption Date, and the Company redeemed those Warrants
for an aggregate redemption price of $10,021.
In connection with the redemption, the Public Warrants stopped
trading on the New York Stock Exchange on October 14,2022 and were
delisted. The redemption had no effect on the trading of the
Company's Class A Common Stock, which continues to trade on the New
York Stock Exchange under the symbol "AMPS."
No Offer or Solicitation This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any offer of any of Altus Power’s securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction.
About Altus Power, Inc. Altus Power, based in Stamford,
Connecticut, is the premier commercial-scale clean electrification
company, serving commercial, industrial, public sector and
community solar customers with an end-to-end solution. Altus Power
originates, develops, owns and operates locally sited solar
generation, energy storage, and EV charging infrastructure across
the nation, from Vermont to Hawaii. Visit www.altuspower.com to
learn more.
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version on businesswire.com: https://www.businesswire.com/news/home/20221020006029/en/
Altus Power:
For Media: Cory Ziskind ICR, Inc. AltusPowerPR@icrinc.com
For Investors: Chris Shelton, Head of IR Caldwell Bailey, ICR,
Inc. InvestorRelations@altuspower.com
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