American Drive Acquisition, a blank check company targeting the defense, logistics, technology, and AI sectors, raised $200 million by offering 20 million units at $10.00. Each unit consists of one share of common stock and one-third of one warrant, exercisable at $11.50.
The SPAC is led by CEO and Director Anthony Eisenberg, a director of Silver Pegasus Acquisition (SPEGU; +3% from $10 offer price) and Abpro Holdings (ABP; -52%), which completed its merger with Atlantic Coastal Acquisition II in November 2024. He is joined by CFO Jason Chryssicas, the Head of Investor Relations at Cantor Fitzgerald and former CFO of Atlantic Coastal Acquisition (formerly Nasdaq: ACAH) before it liquidated, and Chairman Justin Connor, the President of Chef's Table Projects and joint venture partner of Global Blue SA (NYSE: GB), which merged with Far Point Acquisition in 2020. The SPAC plans to focus on American companies in the defense, logistics, transportation, technology and AI sectors.
American Drive Acquisition plans to list on the Nasdaq under the symbol ADACU. Cantor Fitzgerald acted as sole bookrunner on the deal.
