AleAnna Announces Completion of Business Combination with Swiftmerge
Deal News | Dec 13, 2024 | Globenewswire
AleAnna, Inc. has announced the completion of its business combination with Swiftmerge Acquisition Corp., bringing the emerging leader in Italian natural gas and renewable natural gas to public markets. AleAnna's Class A shares will begin trading on the Nasdaq under the symbol ANNA on December 16, 2024. The combination, approved by Swiftmerge's board and shareholders, consolidates AleAnna Energy's equity holders' investments, totaling nearly $175 million, and positions AleAnna with $28 million in cash and no debt. AleAnna, with its extensive history in Italian energy, is set to commence natural gas production from the Longanesi Field by Q1 2025, playing a significant role in Europe's clean energy transition with its RNG operations. Under the leadership of William Dirks and Marco Brun, AleAnna is leveraging cutting-edge technology to enhance Italian energy resources responsibly and sustainably. This strategic move aims to bolster Italy's energy independence and contribute substantially to the EU's clean energy objectives.
Sectors
- Energy
- Financial Services
- Renewable Energy
Geography
- Italy – AleAnna operates extensively in Italy, holding numerous exploration permits and focusing on developing the country's natural gas resources.
- United States – Swiftmerge Acquisition Corp., the business combination partner, is based in the U.S., and AleAnna's shares will be listed on Nasdaq.
- European Union – AleAnna's operations and strategic initiatives align with the EU's energy and environmental policies, particularly in renewable energy.
Industry
- Energy – AleAnna is involved in the exploration and production of natural gas and renewable natural gas, operating within the energy sector.
- Financial Services – The business combination with Swiftmerge, a special purpose acquisition company, and subsequent listing on Nasdaq, involves significant financial services activities.
- Renewable Energy – AleAnna is expanding its renewable natural gas operations, aligning with the renewable energy industry and the EU's clean energy transition goals.
Financials
- $175 million – Total investment into AleAnna Energy prior to the business combination.
- $28 million – Cash and cash equivalents on AleAnna's balance sheet at the close of the transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| AleAnna, Inc. | Target | Company | An energy company involved in natural gas and renewable natural gas production, operating in Italy. |
| Swiftmerge Acquisition Corp. | Bidding Company | Company | A special purpose acquisition company that merged with AleAnna Energy, LLC. |
| AleAnna Energy, LLC | Target | Company | The primary entity engaged in the business combination with Swiftmerge Acquisition Corp. |
| William Dirks | Executive Director | Person | Executive Director of the combined company, AleAnna, Inc. |
| Marco Brun | Chief Executive Officer | Person | CEO of AleAnna, Inc., leading its strategic and operational initiatives. |