Plutonian Acquisition II, a blank check company targeting energy storage, telecom, and consumer sectors, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one right to receive one-fourth 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 (DSY; -99% from $10 offer price on a split-adjusted basis). 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.
The New York, NY-based company will trade on the NYSE under the symbol PLUNU. A.G.P. acted as sole bookrunner on the deal.
