NTR Acquisition Co. in $246 Million IPO

February 22, 2007

Cleary Gottlieb represented NTR Acquisition Co. in its $245,572,050 initial public offering on the American Stock Exchange. Citigroup was the lead underwriter for the transaction, which consisted of 24,557,205 of NTR’s units (including the exercise of a portion of the underwriters’ overallotment option), each consisting of one share of common stock and one warrant. The offering priced on January 30 and closed on February 5, with the underwriters’ overallotment option exercised on February 22. The initial offering price for the units was $10, and the units began trading on the American Stock Exchange on January 31.

NTR Acquisition Co. is a blank check company (also called a special purpose acquisition company, or a “SPAC”) recently formed to acquire through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination, one or more businesses or assets in the energy industry, with a particular focus on businesses or assets involved in the refining, distribution and marketing of petroleum products in North America.