Altus Power, Inc announced that it has entered into subscription agreement for a private placement of 27,500,000 class A common stock at an issue price of $10 per share for gross proceeds of $275,000,000 on July 12, 2021. The transaction will include participation from returning investors, Altus Power America Management, LLC, Blackstone Credit, new investors ValueAct Capital Management L.P., CBRE Acquisition Sponsor, LLC, Liberty Mutual Group Asset Management Inc, certain Altus officers and other investors. The purchase of the pipe shares is conditioned upon, and will be consummated concurrently with, the closing of the transactions contemplated by the business combination agreement. Pursuant to its PIPE subscription agreement, CBRE Acquisition Sponsor, LLC has committed to purchase common stock in an aggregate amount of $70,000,000, with a commitment to purchase additional shares in an aggregate amount of up to $150,000,000 to the extent of the amount of redemptions of shares submitted for redemption by public stockholders in connection with the closing. The transaction has been unanimously approved by the board.