PITTSBURGH, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Montauk Renewables, Inc. announced today the pricing of its initial public offering of 3,047,015 shares at a price of $8.50 per share. 2,350,000 of the shares are being offered by the Company and 697,015 of the shares are being offered by Montauk Holdings Limited, the selling stockholder. The shares will be listed on The Nasdaq Capital Market and trade under the ticker symbol “MNTK” beginning on January 22, 2021. The shares will have a secondary listing on the Johannesburg Stock Exchange and trade under the ticker symbol “MKR” beginning January 25, 2021. The offering is subject to customary closing conditions and is expected to close on January 26, 2021. The Company expects to use the proceeds to fund the identification of, and diligence activities with respect to, potential new projects, which include evaluating new project sites, project conversions and strategic acquisitions.

Roth Capital Partners is acting as sole manager of the offering. The Company has granted the underwriter a 30-day option to purchase up to an additional 352,500 shares at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments, if any.