Plutonian Acquisition II, a blank check company targeting energy storage, telecom, and consumer sectors, announced terms for its IPO on Tuesday.
The New York, NY-based company plans to raise $100 million by offering 10 million shares at a price of $10. Each unit consists of one share of common stock and one right to receive one-sixth of one ordinary share upon the consummation of an initial business combination.
The company is led by CEO and Chairman Wei Kwang Ng, who previously served as the CEO of Plutonian Acquisition, which merged with personal care products company Big Tree Cloud Holdings (Nasdaq: DSY; -98% from initial $10 offering price). He is joined by CFO Xiao Cheng Peng, who currently serves as the CFO and Non-Independent Director at Healthcare AI Acquisition and Director at Everpower International Holdings.
The SPAC plans to target companies engaged in energy storage, telecommunications, and consumer sectors, with a rising demand for sustainable infrastructure and technological innovation.
Plutonian Acquisition II was founded in 2024 and plans to list on the NYSE under the symbol PLUNU. A.G.P. is the sole bookrunner on the deal.
