Dzmitry Dzemidovich/iStock via Getty Images A Quick Take On Redwoods Acquisition Redwoods Acquisition Corp. (NASDAQ:RWOD) has raised $100 million from an IPO at a price of $10.00 per unit, according to the terms of its most recent S-1/A regulatory filing. The SPAC (Special Purpose Acquisition Company) intends to pursue a merger with a company in the sectors of carbon neutral and energy storage industries. Given the lack of prior operating experience in the proposed industries and no previous successful SPAC investor return record, my opinion on the RWOD SPAC is Hold. Redwoods Acquisition Sponsor Background Redwoods Acquisition’s sponsor, Redwoods Capital LLC, is controlled by Mr. Min Gan and Chardan, an underwriter of the IPO. The SPAC is headed by Chief Executive Officer Mr. Jiande Chen, who is a non-executive director at IMAX China and is an independent director at Beijing Cultural…
Redwoods Acquisition Targets Carbon Neutral Or Energy Storage Merger
