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SPAC · Merger completed

Energem Corp

Business combination with Graphjet Technology Sdn. Bhd.

Energem Corp is a blank-check company (SPAC) that raised $100M in its initial public offering on Nov 17, 2021, listing on Nasdaq. It completed its business combination with Graphjet Technology Sdn. Bhd. on Mar 14, 2024; the combined company is Graphjet Technology (GTI). Benchmark led the IPO, with Drexel Hamilton. Rimon advised the SPAC and Lucosky Brookman advised the underwriters on the IPO.

Graphjet Technology Sdn. Bhd., founded in 2019 in Malaysia, produces graphene and graphite. It uses a patented process that recycles palm kernel shells, a waste product of palm oil production, into single-layer graphene and artificial graphite.

Status
Merger completed
IPO date
Nov 17, 2021
IPO size
$100M
IPO exchange
Nasdaq
Target
Graphjet Technology Sdn. Bhd.
Announced
Jan 17, 2023
Closed
Mar 14, 2024
Combined company
Graphjet Technology (GTI)
IPO underwriters
Benchmark and Drexel Hamilton
SPAC counsel (IPO)
Rimon
Underwriters' counsel (IPO)
Lucosky Brookman

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