Keystone Law capital markets partner Simon Holden advised Alteration Earth PLC (ALTE), a special purpose acquisition company (SPAC), on its initial public offering of 18 million ordinary shares, which were listed on the standard segment of the Official List of the Financial Conduct Authority and admitted to trade on the main market for listed securities of the London Stock Exchange.
ALTE was formed to undertake an acquisition of a target company and/or assets in the clean, green and renewable energy and clean technology sectors. The company raised approximately £1.3 million from its seed and subscription funding rounds.
Matthew Beardmore, non-executive director of ALTE, said:
“Simon’s expertise, guidance and tenacity were critical to ALTE securing a listing on the LSE. Knowing that Keystone will be a key partner going forward, we are confident that ALTE will deliver on its strategic objectives.”
“In establishing their SPAC, the ALTE team adopted a ‘first in class’ mentality from the outset. It has been rewarding being a part of their team to help achieve the initial objective of listing on the LSE, and I look forward to working with them as they seek to identify potential targets.”