Sunlight Financial, a technology-enabled point-of-sale financing company, closed its business combination with Spartan Acquisition Corp. II, a publicly-traded special purpose acquisition company sponsored by funds managed by an affiliate of Apollo Global Management. The business combination was approved by Spartan’s stockholders.

The combined company is named Sunlight Financial Holdings and its common stock will begin trading on the New York Stock Exchange under the ticker symbol “SUNL,” while its warrants will trade on the NYSE under the ticker symbol “SUNLW.” Sunlight Financial will be the new public holding company’s sole operating subsidiary and Sunlight’s existing management team will continue to lead the business.

“This is a momentous day for Sunlight and we are excited to accelerate the transition to a clean energy future as a publicly-traded company,” Matt Potere, CEO of Sunlight Financial, said. “As demand for residential solar and battery storage solutions continues to grow, Sunlight is well-positioned to extend its lead as the point-of-sale technology platform of choice and provide frictionless financing for solar and home improvement customers, contractors and capital providers. We look forward to further scaling our business and executing on our strategic goals to deliver sustainable and profitable growth and create long-term value for our stockholders.”

The business combination was funded by a combination of Spartan’s cash-in-trust and $250 million of proceeds from a previously-announced private placement of Spartan’s shares, which was fully committed by a pool of institutional and other accredited investors.

“As a company at the nexus of fintech, solar and ESG, Sunlight has an incredible opportunity to empower more homeowners to embrace clean energy technologies,” Geoffrey Strong, CEO of Spartan Acquisition Corp. II and senior partner and co-head of infrastructure and natural resources at Apollo, said. “We are excited to work with Matt and the entire Sunlight team as they continue in their mission to provide affordable, responsible financing to accelerate America’s transition to clean energy.”

Citi acted as exclusive financial advisor to Sunlight. Credit Suisse, Citi and Cowen acted as PIPE placement agents to Spartan. Hunton Andrews Kurth acted as the legal advisor to Sunlight, Vinson & Elkins acted as the legal advisor to Spartan, Latham & Watkins acted as the legal advisor to the placement agents and Gibson Dunn & Crutcher advised a transaction committee of the board of directors of Spartan.