BHAV Acquisition II, a blank check company targeting robotics, EVs, fintech, advanced computing and energy tech, lowered the proposed deal size for its upcoming IPO on Friday.
The Piscataway, NJ-based company now plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock, and one-fourth of a right to receive a share at the time of the business combination. The company had previously filed to offer 15 million units at $10.
BHAV Acquisition II is led by CEO and Director Giri Devanur, the founder and Executive Chairman of reAlpha Tech (Nasdaq: AIRE). Devanur has experience with other SPACs and concurrently serves as CEO of BHAV Acquisition (Nasdaq: BHAV), which raised $100 million in its March 2026 IPO and has not yet announced a business combination. He is joined by CFO and Director Chaitanya Setti, who also serves as CFO of BHAV Acquisition. The SPAC plans to target businesses in the robotics, EVs, drones and unmanned aerial systems, fintech, quantum and advanced computing, and advanced energy technology sectors.
BHAV Acquisition II was founded in 2026. It plans to list on the Nasdaq under the symbol BHAIU. Maxim Group LLC is the sole bookrunner on the deal.
