NEW YORK--(BUSINESS WIRE)--Adit EdTech Acquisition Corp. today announced that it closed its upsized initial public offering of 24,000,000 units at $10.00 per unit, generating total gross proceeds of $240,000,000. Each unit consists of one share of the Company’s common stock and one-half of one warrant. Each whole warrant entitles the holder thereof to purchase one share of the Company’s common stock at a price of $11.50 per share. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,600,000 units at the initial public offering price to cover over-allotments, if any. The units are listed on the New York Stock Exchange under the symbol “ADEX.U”. Once the securities comprising the units begin separate trading, the common stock and warrants are expected to be listed on the New York Stock Exchange under the symbols “ADEX” and “ADEX.WS,” respectively.

The Company is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue a business combination in any industry, the Company intends to focus its search for a business that would benefit from the founders’ and management team’s experience and ability to identify, acquire and manage a business in the education, training and education technology sectors.