Enphys Acquisition Corp.
NFYS
New York Stock Exchange11.00
USD
+0.01
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Enphys Acquisition Corp.
NFYS
(New York Stock Exchange)
Recent
price
11.00
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Enphys Acquisition Corp. Enphys Acquisition Corp. (NYSE: NFYS) operates as a blank check company, or special purpose acquisition company (SPAC), formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses; it focuses primarily on targets in the energy transition and sustainability sectors, particularly renewable energy companies operating predominantly in Ibero-America, including Latin America with its best-in-class wind and solar resources, reliable transmission networks, and strong political support for clean energy initiatives. The company offers no current operational products or services beyond its SPAC structure, which provides investors access to potential renewable energy assets through a de-SPAC transaction; its sponsor, Enphys Acquisition Sponsor LLC and related entity Enphys Management Company, supports the search process with over 20 years of regional investment experience managing $3.5 billion in energy investments at 22% IRR and $1.9 billion in real estate at 27% IRR. Incorporated in 2021 and headquartered at 216 East 45th Street, 13th Floor, New York, NY 10017, United States, Enphys Acquisition Corp. targets Ibero-American businesses aligned with ESG themes to create a Latin American renewable energy champion, with geographic emphasis on countries boasting superior renewable resources and growing climate investment inflows. In recent developments, the company raised $345 million in its October 2021 initial public offering, including 30 million units at $10 each plus an over-allotment option; it signed a non-binding letter of intent in August 2023 with an unnamed advanced biofuels producer in Latin America following four months of due diligence and site visits, though no definitive agreement has materialized; multiple deadline extensions occurred, including to December 8, 2024, via shareholder approvals amid proxy filings; and in July 2024, the NYSE commenced delisting proceedings due to average public market capitalization falling below the $40 million threshold over 30 trading days, with trading suspended immediately and the company withdrawing its appeal in October 2024, leading to formal SEC Form 25 filing and effective delisting. As of late 2024, Enphys Acquisition Corp. maintains a full trust balance from its IPO with no completed business combination, positioning it for potential over-the-counter trading post-delisting while i(x) Net Zero PLC holds a significant equity interest in its sponsor and continues monitoring merger prospects.