Monitor for any business combination announcement or letter of intent. The 18-month deadline is November 2027. No immediate catalyst — the stock will trade as a SPAC unit with the trust floor providing downside protection near $10.05 per share.
Price Chart
Executive Summary
Energy Transition Special Opportunities (ETSS) consummated its IPO of 15,000,000 units at $10.00/unit on May 18, 2026, raising $150M in gross proceeds, plus $5.375M from a concurrent private placement of warrants. The net proceeds of $150.75M are held in trust for a future business combination, which the company has 18 months (or 24 months if a deal is signed within 18 months) to complete. This is a routine SPAC IPO filing — no operating revenue, no target identified, and no material financial data beyond the balance sheet.
Key Facts
- IPO of 15,000,000 units at $10.00/unit, gross proceeds of $150,000,000
- Private placement of 5,375,000 warrants at $1.00/warrant, gross proceeds of $5,375,000
- Total of $150,750,000 ($10.05/unit) placed in trust account
- Underwriters forfeited over-allotment option for 2,250,000 additional units
- Company has 18 months (or 24 months if deal signed within 18 months) to complete a business combination
- Working capital of $795,515 as of May 18, 2026; no cash on hand at IPO close (Sponsor deposited $789,714 on May 20, 2026)
- Accumulated deficit of $5,058,051 as of May 18, 2026
Financial Impact
IPO raised $150M in gross proceeds; $150.75M held in trust for acquisition. No operating revenue or earnings to report.
Risk Factors
- Failure to complete a business combination within 18-24 months would trigger liquidation and redemption of public shares at ~$10.05 per share
- No identified target — deal risk is binary and timeline-dependent
- Working capital of ~$795K may be insufficient if due diligence costs exceed estimates
- Sponsor has no obligation to extend the deadline beyond 18 months without a shareholder vote
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-060623 |
| Document: ea0291879-8k_energy.htm | 0001213900-26-060623 |
| Document: 0001213900-26-060623-index-headers.html | 0001213900-26-060623 |
| Document: 0001213900-26-060623-index.html | 0001213900-26-060623 |
| Document: 0001213900-26-060623.txt | 0001213900-26-060623 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 1, 2026 21w ago | 8-K | — | awaiting T+20 | — | — |
May 22, 2026 22w ago | 8-K | $9.97 $10.06 | ▲ +0.90% | ▲ +2.85% | — |
May 19, 2026 22w ago | 8-K | $9.97 $10.00 | ▲ +0.30% | ▼ −0.44% | — |
May 15, 2026 23w ago | EFFECT | $9.99 $10.00 | ▲ +0.10% | ▼ −2.02% | — |
Mar 9, 2026 32w ago | S-1/A | — | awaiting T+20 | — | — |
US Market Status
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