LanzaTech Global Down 21% in Debut
11 February 2023 - 05:35AM
Dow Jones News
By Josh Beckerman
Shares of LanzaTech Global Inc. fell 21% to $7.81 on their first
trading day after a blank-check company merger.
AMCI Acquisition Corp. II combined with carbon capture business
LanzaTech NZ Inc.
LanzaTech's investors include ArcelorMittal. ArcelorMittal and
LanzaTech will jointly market ethanol under the Carbalyst brand
name from ArcelorMittal's "Steelanol" project in Ghent,
Belgium.
LanzaTech said Thursday that transaction proceeds of about $240
million are expected to fund its business plan through estimated
cash flow break-even in 2024.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
February 10, 2023 13:20 ET (18:20 GMT)
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