United States securities and exchange commission logo
October 11, 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. 1 to
Registration Statement on Form S-1
Filed September 20,
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
September 1, 2022 letter.
Amendment No. 1 to Registration Statement on Form S-1
Cover Page
1. We note your reference
to the Founder Shares on your prospectus cover page. Please
provide a definition of
such term on your prospectus cover page.
Risk Factors
Future sales of a substantial number of shares of our Class A common
stock..., page 35
2. We note your response
to prior comment 4 and re-issue such comment in part. With
respect to the shares
being registered for resale, please also disclose in this risk factor and
on your prospectus
cover page the percentage that these shares represent of the total
Ann Anthony
OPAL Fuels Inc.
October 11, 2022
Page 2
number of shares currently outstanding (without giving effect to the
exercise of
outstanding warrants and the conversion of Class C common stock).
General
3. Please revise to clarify the transactions that you are registering
pursuant to this registration
statement. For example, if you are registering the primary issuance of
the shares
underlying the public warrants, and the resale of the shares underlying
the private
placement warrants, please revise to make this clear on your prospectus
cover page and
throughout your filing.
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
October 11, 2022 Page 2
cc: Edward M. Welch
FirstName LastName