StoneBridge Acquisition II, a blank check company targeting businesses in the APAC and EMEA regions, raised $50 million by offering 5 million units at $10. Each unit consists of one share of common stock and the right to receive one-tenth of one share upon the completion of an initial business combination.
StoneBridge Acquisition II is led by CEO and Director Bhargava Marepally, the founder and CEO of GSS Infotech, and President and Director Prabhu Antony, a co- founder of Hong Kong-based financial institution Sett & Lucas. The SPAC plans to target ecommerce, fintech, SaaS, renewable energy, mining, and IT and IT-Enabled Services in the Asia Pacific (APAC) and Europe, Middle East, and Africa (EMEA) regions.
Management's previous SPAC, StoneBridge Acquisition, completed its combination with Indonesia-based fintech app DigiAsia (OTC: FAASF; -99% from $10 offer price) in April 2024.
StoneBridge Acquisition II plans to list on the Nasdaq under the symbol APACU. Maxim Group LLC acted as sole bookrunner on the deal.
