Today is a big day for fuel cell and hydrogen stocks bulls. Advent Technologies (NASDAQ:ADN) will make its debut and start trading on the Nasdaq Exchange, adding another public option for investors. So what do you need to know about ADN stock? And what about its SPAC merger with AMCI Acquisition (NASDAQ:AMCI)? Dive in below.
To start, investors should know that AMCI Acquisition is a blank-check company. Earlier this week, shareholders voted to approve its merger with Advent Technologies. As a result, the reverse deal will close today and ADN stock will start trading on its own. Most importantly, this means investors will get direct access to another fuel cell specialist.
With that in mind, here is what you need to know about ADN stock and the Advent Technologies SPAC merger now:
- AMCI Acquisition first came public in November 2018.
- At the time, the blank-check company raised $200 million by offering 20 million units at $10.
- All along, AMCI stock has represented an interest in global resources and associated technology.
- Therefore, it makes sense that AMCI chose to bring Advent Technologies public.
- Finally, shareholders voted to approve the merger on Tuesday, Feb. 2.
- Now that ADN stock will be trading on its own, it can use the SPAC merger proceeds to fuel its growth in the renewable fuels market.
- It is walking away from the deal with $153 million in proceeds.
- This amount includes $93.3 million cash in trust from AMCI and $65 million from a PIPE investment. Jefferies (NYSE:JEF) and Fearnley Securities led that deal.
- According to the press release, Advent Technologies represents more than 15 years of research.
- During that time, it has also received more than 50 international patents.
- Its leading solution is a high-temperature polymer electrolyte membrane (HT-PEM) fuel cell technology.
- Unlike other fuel cell offerings, Advent says its HT-PEM offers more power at a lower cost.
ADN Stock and the Advent Technologies SPAC Merger
So what else do you need to know about ADN stock as it starts trading today?
Perhaps the most important thing for investors to understand is exactly what Advent Technologies is offering in terms of fuel cell innovations. According to the company, its main goal is helping the world decarbonize, meaning that it wants to reduce carbon emissions. To do so, it uses hydrogen and renewable fuels like Liquid Sun and Liquid Win to create zero-emissions solutions. And because of how wide-ranging the market is, Advent sees applications in the automotive, aviation, drone, marine and heat and power generation markets.
As you evaluate ADN stock, one of its key solutions is its HT-PEM fuel cell technology. Advent says that this is a form of platform tech, and it highlights many potential solutions. These include power for telecommunications towers, extending the range on a battery electric vehicle, powering a heavy-duty truck and helping electric drones fly for extended periods of time.
So what else should you know right now? ADN stock and AMCI Acquisition may not have been the most well-known players in the SPAC space. However, now that Advent Technologies is trading independently, you should keep it on your radar. With growing consumer interest in renewable energy and news out today about the Hyzon SPAC merger, there is a lot to like.
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Sarah Smith is a Web Content Producer with InvestorPlace.com.