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Business merger to take ‘cleaner electric’ company public

By Joseph Toppe

16:35, 6 December 2021

Solar panels in the sun
The business combination is expected to close on 9 December - Photo: Shutterstock

Building a cleaner electrical ecosystem is one step closer, now that the industry stock is hitting Wall Street.

In a virtual meeting held on 6 December, shareholders for CBRE Acquisition Holdings approved a business combination with Altus Power, a clean electrification provider based in Stamford, Connecticut.

CBRE Acquisition creates mergers, capital stock exchange, asset acquisition, stock purchase, reorganisation or business combinations.

Following the 10:00 EST (UTC -5) announcement, shares for CBRE Acquisition (NYSE: CBAH) are up near 1.85% to around $10.19.

Neither Altus Power or CBRE Acquisition Holdings responded for early comment after a series of emails. 

GME

15.23 Price
-1.620% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.13

TSLA

240.01 Price
-0.790% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.10

NVDA

460.44 Price
-2.690% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.14

COIN

138.24 Price
-4.770% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.29

When will trading begin?

The business combination is expected to close on 9 December 2021.

Altus Power’s Class A shares and warrants will begin trading on the New York Stock Exchange under the symbols AMPS and AMPS WS on 10 December 2021.

Altus Power operations

Founded in 2009, the clean energy company has operations spanning from Vermont to Hawaii, 410 megawatts of solar power and a pipeline of over 900 megawatts of solar power.

With operations in six US states, Altus Power builds and distributes clean kilowatt-hours through the provision of solar panels, electric vehicle charging stations and energy storage.

Read more: Inflation to pass 5% warns BoE'sm Broadbent 

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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