Ropes & Gray Advises on Climate-Focused SPAC IPO
Ropes & Gray represented Climate Real Impact Solutions II Acquisition Corporation, a special purpose acquisition company, in closing an initial public offering of 24,150,000 units at a price of $10.00 per unit, including 3,150,000 units sold to the underwriters pursuant to the full exercise of the over-allotment option. Closing of the transaction was announced on January 29.
CRIS II is the second climate-focused SPAC launched by a team of energy veterans to advance decarbonization solutions for the home, office and road. CRIS II is co-sponsored by private funds affiliated with Pacific Investment Management Company (PIMCO), which has more than $640 billion in sustainable investment assets under its management.
The Ropes & Gray team included capital markets partners Emily Oldshue (Boston) and Paul Tropp (New York).