BOA Acquisition II, a blank check company targeting real estate and infrastructure, lowered the proposed deal size for its upcoming IPO on Thursday.
The Washington, DC-based company now plans to raise $125 million by offering 12.5 million units at $10. Each unit consists of one share of common stock and one right to receive one ordinary share upon the consummation of an initial business combination. The company had previously filed to offer 20 million units with one right to receive one-eighth of one ordinary share. At the revised deal size, BOA Acquisition II will raise -38% less in proceeds than previously anticipated.
The SPAC is led by CEO, CFO, and Director Benjamin Friedman, Managing Partner at The Avery Companies, Partner at Friedman Capital, and co-founder and director of PhireLink. He is joined by Chairman Brian Friedman, Partner at Friedman Capital, and co-founder and Managing Partner at Foxhall Partners. The SPAC plans to target opportunities involving direct investments in real estate and infrastructure assets, particularly within the energy, telecommunications, and transportation sectors.
Management's previous SPAC, BOA Acquisition, merged with Selina Hospitality (formerly Nasdaq: SLNA) in October 2022.
BOA Acquisition II was founded in 2025. It plans to list on the Nasdaq under the symbol THEOU. D. Boral Capital is the sole bookrunner on the deal.
