Canadian oil and gas producer Hammerhead Resources today announced the completion of its business combination with Decarbonization plus Acquisition IV.
The combined company is named Hammerhead energy. Hammerhead expects to file a final non-offering prospectus with the Alberta Securities Commission on Feb. 24 to become a reporting issuer, and its Class A shares and warrants are expected to begin trading on the Nasdaq under the ticker symbols HHRS and HHRSW, respectively, and on the TSX under the ticker symbols HHRS and HHRS.WT, by Feb. 27.
The SPAC's shareholders approved the merger last month. At deal announcement last September, the transaction was anticipated to generate gross proceeds of approximately $320 million. That assumed minimal redemptions.
Decarbonization Plus IV has not disclosed redemptions, if any. The SPAC's trust was not supplemented with a PIPE and there was no minimal cash condition to close.
Source: Hammerhead Resources Completes Merger with Decarbonization Plus Acquisition IV