ST Energy Transition I Ltd. Announces Pricing of $250 Million Initial Public Offering
ST Energy Transition I Ltd. (the “Company”) announced today the pricing of 25,000,000 Stakeholder Aligned Initial Listing, or SAILSM security, at a price of $10.00 per SAILSM security. The SAILSM securities will be listed on the New York Stock Exchange and trade under the ticker symbol “STET.U” beginning December 3, 2021.
The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination with a target in any industry or geographic location, it intends to focus its search on opportunities that contribute in positive ways towards energy transition and clean energy technology.
The Company’s board is led by John Fredriksen, chairperson, and includes independent directors Ole-Eirik Lerøy, Cato Stonex, James O’Shaughnessy, Tore Myrholt and Annika Sigfrid. Gunnar Eliassen is the Chief Executive Officer of the Company and Jan Erik Klepsland is the Chief Financial Officer of the Company.
Each SAILSM security consists of one Class A share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A share at a price of $11.50 per share. Once the securities constituting the SAILSM securities begin separate trading, the Class A shares and warrants will be listed on the New York Stock Exchange under the symbols “STET” and “STETWS,” respectively.
Morgan Stanley is acting as sole bookrunning manager and joint lead manager and DNB Markets is acting as joint lead manager in the offering. The Company has granted the underwriters a 45-day option to purchase up to 3,750,000 additional SAILSM securities at the initial public offering price to cover over-allotments, if any.
The initial public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained for free from the U.S. Securities and Exchange Commission website (http://www.sec.gov), and Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, New York 10014 or by e-mail to prospectus@morganstanley.com.
A registration statement relating to the securities sold in the initial public offering has been declared effective by the U.S. Securities and Exchange Commission on December [2], 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Cautionary note regarding forward-looking statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the anticipated use of the net proceeds thereof. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211202006048/en/
Contact information
Media contact:
Gunnar Eliassen
Email address: gunnar.eliassen@seatankersmgt.com
Tel: +1 (441) 295-6935
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Armis Launches New Partner Program, Expanding its Reach to Help Global Organizations Enhance Cyber Resilience14.1.2026 15:00:00 EET | Press release
Armis, the cyber exposure management & security company, today announced the launch of the Armis Select Partner Program. The new program marks a significant evolution in Armis' commitment to its global partner ecosystem. By extending the reach of Armis Centrix™, the Armis Cyber Exposure Management Platform, to organizations worldwide through its partner program, joint customers can streamline their security operations and proactively strengthen defenses. “Global enterprises don’t just need tools; they need a unified ecosystem of trusted partners to navigate an increasingly volatile threat landscape,” said Alex Mosher, President and CRO of Armis. “At Armis, our partners are the primary engine of our growth and the cornerstone of our global strategy. By evolving our partner program, we are doubling down on this collaborative foundation to accelerate our reach and deepen our impact. Together, we are empowering customers to move from reactive defense to proactive cyber exposure management
Rapyd’s 2026 State of Stablecoins: Businesses Move En Masse as Stablecoins Go Mainstream14.1.2026 15:00:00 EET | Press release
Rapyd, a leading global fintech company, released its 2026 State of Stablecoins Report, revealing that stablecoins have reached a tipping point and are becoming a foundational component of global commerce rather than a niche digital asset. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260114427729/en/ Rapyd research shows 64% of businesses already use stablecoins or plan to within three years, as speed, cross-border efficiency, and cost savings drive mainstream adoption. The report shows the market has moved decisively into active, real-world use. Today, nearly one in five businesses already consider stablecoins a mainstream financial tool. Looking ahead, a much larger majority (76%) believe stablecoins are either already mainstream or will become mainstream within the next five years. This shift in perception is translating into action: 64% of businesses surveyed either use stablecoins today or plan to adopt them within th
WEP Clinical Acquires Netherlands-Based CRO Siron Clinical, Expanding Global Phase I–IV Trial Delivery Capabilities14.1.2026 15:00:00 EET | Press release
WEP Clinical (WEP), a full-service contract research organization (CRO), announces the acquisition of Siron Clinical (Siron), a Netherlands-based European CRO specializing in flexible, high-quality clinical operations for biotech companies. The acquisition expands WEP’s global footprint and strengthens its ability to deliver end-to-end Phase I–IV clinical trial solutions across complex, rare, and specialized therapeutic areas. Founded in 2000, Siron is headquartered in the Netherlands, with additional offices in Belgium and Germany, and clinical research professionals based across Europe and the Middle East. The company specializes in clinical operations, including project management, clinical monitoring, quality assurance, and regulatory submissions. Siron has supported more than 120 studies and has a strong track record in orphan diseases, pediatric research, and medical device trials. Jaswinder Khera, WEP Founder and CEO, said: “This acquisition represents a significant milestone in
Alpaca Raises $150 Million at a $1.15B Valuation to Build the Global Standard for Brokerage Infrastructure14.1.2026 14:00:00 EET | Press release
Alpaca, a global leader in brokerage infrastructure whose APIs empower partners like Kraken, SBI Securities, and Dime!, today announced it has raised a $150 million Series D led by Drive Capital that values the company at $1.15 billion. Drive Capital’s Co-Founder and Partner, Chris Olsen, will join Alpaca’s Board of Directors as part of the investment. The company also secured a $40 million line of credit, further strengthening its balance sheet as it continues to expand globally. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260114225657/en/ Alpaca Raises $150 Million at a $1.15B Valuation to Build the Global Standard for Brokerage Infrastructure “Our mission is to open financial services to everyone on the planet,” said Yoshi Yokokawa, Co-Founder and CEO of Alpaca. “We are building the global standard for brokerage infrastructure so our partners can bring investing to more people. This raise gives us the fuel to deliver m
Sixth Street Raises €3.75 Billion for Third European Direct Lending Fund14.1.2026 13:30:00 EET | Press release
Sixth Street, a leading global investment firm, today announced the final close of Sixth Street Specialty Lending Europe III (“SLE III” or “the Fund”), at its hard cap with €3.75 billion in total equity commitments. SLE III is Sixth Street’s third and largest dedicated fund focused on providing financing solutions for companies across Europe. The total investable capital for SLE III is expected to be approximately €7 billion, including anticipated leverage. “We are grateful to our long-term capital partners for their trust and commitment to our strategy as we continue to support European businesses at any point in their lifecycle, offering customized capital solutions delivered with speed and certainty,” said Michael Griffin, Co-Head of Sixth Street Global Direct Lending and Head of Europe Direct Lending. “This is a significant milestone for our European Direct Lending business and a testament to the firm’s intentional growth in the region. While Sixth Street has spent the past two dec
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom