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Verde Clean Fuels Entered Into A Stock Purchase Agreement With Cottonmouth Ventures, A Wholly-Owned Subsidiary Of Diamondback Energy, For A $50M Equity Investment

Author: Benzinga Newsdesk | December 19, 2024 07:13am

The investment consists of the purchase of 12.5 million shares of Verde's Class A common stock at a purchase price of $4.00 per share. Closing of the investment is anticipated to occur during Q1 2025, subject to satisfaction of customary closing conditions. Upon closing, the investment would represent the second investment by Cottonmouth in Verde over the past two years, for a total investment of $70 million, making Cottonmouth the second largest shareholder of Verde. 

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