By Brenda León
TortoiseEcofin Acquisition Corp. III said Thursday it has executed a new non-binding letter of intent to buy an industrial renewable power solutions company.
The special purpose acquisition company didn’t disclose the name of the target company.
TortoiseEcofin said it previously signed an initial letter of intent with the target company in April and plans to disclose additional details.
The two sides have until Oct. 22 to complete the deal, which would result in a public listing of the target. The transaction is subject to approval by the board of directors of both companies and other closing conditions.
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