Crown LNG Holding AS Announces Completion of Business Combination with Catcha Investment Corp

Core Viewpoint - The business combination between Crown LNG and Catcha Investment Corp aims to enhance Crown LNG's ability to provide stable and secure LNG supplies to markets facing harsh weather conditions, with shares set to trade on Nasdaq starting July 9, 2024 under the ticker symbols "CGBS" and "CGBSW" [1][2][16]. Company Overview - Crown LNG is focused on two critical segments of the LNG value chain: liquefaction and regasification, enabling year-round LNG supplies to growing markets while aiming to reduce carbon emissions by replacing coal with LNG [3][12]. - The company plans to operate offshore LNG terminals in locations where onshore facilities are not feasible, utilizing a bottom-fixed, gravity-based structure design to lower costs and environmental impact [8][12]. Leadership and Management - The senior management team of Crown LNG will remain in place post-combination, including CEO Swapan Kataria and CFO Jorn S. Husemoen, ensuring continuity in leadership [5][19]. - The board of directors for the newly formed entity will include key figures from both Crown and Catcha, reflecting a blend of expertise [20]. Strategic Goals - The capital raised from the business combination will support Crown's diversified project pipeline in various global markets, including India, the UK, Vietnam, and Canada [4][19]. - Crown LNG is advancing two significant projects, Kakinada in India and Grangemouth in Scotland, towards final investment decisions [18]. Market Position - The combined entity is positioned to capitalize on the growing LNG market, driven by rising energy security concerns and the increasing role of natural gas as a transition fuel [19].