EQV Ventures Acquisition II, the second blank check company backed by EQV Group targeting the energy sector, raised $420 million by offering 42 million units at $10. The company offered 7 million more units than anticipated. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by CEO and Director Jerry Silvey, the founder and CEO of EQV Group, which seeks to acquire mature, long-life, and low-decline upstream producing oil & gas assets and related midstream infrastructure within the overlooked basins of North America and Europe. The SPAC plans to target the energy industry, focusing on the upstream exploration and production sector.
Management's previous SPAC, EQV Ventures Acquisition (EQVU), went public in August 2024 and is still searching for a target.
EQV Ventures Acquisition II plans to list on the NYSE under the symbol EVACU. BTIG acted as sole bookrunner on the deal.
