Tech and Energy Transition Corporation
TETC
NASDAQ Capital Market10.18
USD
+0.01
- -
CIK
0001840920
ISIN
US87823R1023
CUSIP
87823R102
Return %
Stock
S&P500
1Y
3.93
18.21
3Y
4.68
64.38
5Y
4.68
72.43
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- John B. Spirtos
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 125 West 55Th Street New York City NY United States of America 10019
- IPO Date
- May 7, 2021
- CIK
- 0001840920
- Website
- techenergytransition.com
- Similar Companies
- Business
- Tech and Energy Transition Corporation (TETC) is a blank check company, or special purpose acquisition company (SPAC), with no significant current operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, particularly in communications, industrial-technology and Infratech, software and services, clean energy, and technology sectors that enable digital transformation and energy transition. The company generates no revenues and maintains its primary activity as identifying and pursuing such transactions. TETC offers no core products or services beyond its SPAC structure, which provides acquisition financing through its public trust account funded by its 2021 initial public offering of $385 million. It targets disruptive technologies in software, technology-enabled services, communications, internetworking, industrial technology, and clean energy infrastructure. Geographically, TETC operates from its headquarters in New York, New York, with no specified international operations prior to a potential business combination. Founded in 2017 and formerly known as M Acquisition Company IV Corporation, the company changed its name to Tech and Energy Transition Corporation in December 2020 to reflect its energy transition focus. In March 2023, shareholders voted against a proposed extension of its deadline to complete an initial business combination, resulting in the company's liquidation process, with shares ceasing trading on March 27, 2023, and redemptions distributed at approximately $10.18 per share from its trust account. No further mergers, acquisitions, funding rounds, or operational activities have occurred since the failed extension attempt, marking its primary recent development as dissolution.