Special purpose acquisition company A SPAC II Acquisition Corp. (Nasdaq: ASCBU) started trading on the Nasdaq Capital Market on Tuesday. The firm aims to raise US$185.0 million in its initial public offering.
The offering consisted of 18.5 million company units at US$10.00 per unit. Each unit contains one Class A common share, one-half of a redeemable warrant, and one-tenth of a right. Each whole warrant is exercisable for one common share at US$11.50 per share while each whole right equates to one common share upon business combination. The shares, warrants, and rights, once trading separately, will be trading under “ASCB”, “ASCBW”, and “ASCBR”, respectively.
Maxim Group acts as the sole bookrunner for the said offering. The underwriters were granted a 45-day overallotment option to purchase additional 2.8 million units at the same IPO price.
Sponsored · PTX Metals Inc.
The Singapore-based blank check firm intends to focus on completing a business combination in Proptech and Fintech, with particular preference to companies employing ESG principles.
Its predecessor A SPAC I Acquisition Corp. (Nasdaq: ASCAU) launched its US$60-million initial public offering in February 2022.
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
