United States securities and exchange commission logo
November 3, 2022
Ann Anthony
Chief Financial Officer
OPAL Fuels Inc.
One North Lexington Avenue
Suite 1450
White Plains, New York 10601
Re: OPAL Fuels Inc.
Amendment No. 3 to
Registration Statement on Form S-1
Filed November 2,
2022
File No. 333-266757
Dear Ann Anthony:
We have reviewed your amended registration statement and have the
following
comments. In some of our comments, we may ask you to provide us with
information so we
may better understand your disclosure.
Please respond to this letter by amending your registration
statement and providing the
requested information. If you do not believe our comments apply to your
facts and
circumstances or do not believe an amendment is appropriate, please tell
us why in your
response.
After reviewing any amendment to your registration statement and
the information you
provide in response to these comments, we may have additional comments.
Unless we note
otherwise, our references to prior comments are to comments in our
November 1, 2022 letter.
Amendment No. 3 to Form S-1
Risk Factors
Risks Related to the Company
There can be no assurance that we will be able to comply with the
continued listing standards of
Nasdaq, page 41
1. We note your response
to prior comment 1, and note your risk factor disclosure that if the
company is required to
repurchase any shares of its Class A common stock from Meteora
pursuant to the forward
purchase agreement, it may cause the company to fail to satisfy
the Nasdaq s minimum
standard requirements. However, we note that you have not
discussed such risk in
your prospectus summary. If you do not believe that such
Ann Anthony
OPAL Fuels Inc.
November 3, 2022
Page 2
information is required in your prospectus summary, please provide your
analysis. Refer
to Items 105(b) and 503 of Regulation S-K.
Exhibits
2. We note your response to prior comment 3, and reissue such comment. The
fee table filed
as Exhibit 107 does not appear to be consistent with the description of
the transactions
being registered as set forth on your prospectus cover page. For example,
it does not
appear that the fee table includes the issuance by the registrant of the
shares of Class A
common stock underlying the Private Placement Warrants. Please revise.
Please contact Kevin Dougherty, Staff Attorney, at (202) 551-3271 or
Laura Nicholson,
Special Counsel, at (202) 551-3584 with any questions.
Sincerely,
FirstName LastNameAnn Anthony
Division of
Corporation Finance
Comapany NameOPAL Fuels Inc.
Office of Energy &
Transportation
November 3, 2022 Page 2
cc: Edward M. Welch
FirstName LastName