Invest Green Acquisition Corporation (IGACU) is a special purpose acquisition company (SPAC) based in Camas, Washington, with a mission to drive the transition to a greener economy. Founded by Andrew McLean and Matthew Kiernan, the company was formed in 2020 (with the SPAC entity itself incorporated on April 7, 2025) ...Invest Green Acquisition Corporation (IGACU) is a special purpose acquisition company (SPAC) based in Camas, Washington, with a mission to drive the transition to a greener economy. Founded by Andrew McLean and Matthew Kiernan, the company was formed in 2020 (with the SPAC entity itself incorporated on April 7, 2025) to effect a merger with one or more businesses in renewable energy, sustainable finance, nuclear energy, or related sectors. The IPO on November 25, 2025 raised $172.5 million by offering 17.25 million units at $10 each, with 100% of proceeds held in trust, and the units began trading on NASDAQ under the ticker IGACU. As of the latest data, the company has a market cap of ~$185 million, and its common shares and rights began trading separately in December 2025. The management team is led by CEO Andrew McLean, who is also a host of 'The Eco Capitalist' and has a background in sustainable investing, along with co-founder Matthew Kiernan, a pioneer in the field. The company has only 3 full-time employees and minimal current operations since it's a blank check entity, with no revenue and negative operating cash flow. Key financial metrics: price-to-book ratio ~1.4, book value per share ~$7.02, and a tangible asset value of ~$167 million, reflecting the trust funds. The company faces competition from other SPACs and must find a compelling target within its focus areas to create shareholder value. With a 24-month tenor to complete a business combination, the management's experience and market conditions will be critical. Investors are cautious given the high P/E and dependence on a future merger.
