Redwoods Acquisition II, a blank check company targeting the energy storage, telecom, and consumer sectors, filed on Thursday with the SEC to raise up to $75 million in an initial public offering.
The company plans to raise $75 million by offering 7.5 million units at $10. Each unit consists of one share of common stock, one whole warrant to purchase a share, exercisable at $11.50, and one right to receive one-fourths of one ordinary share upon the consummation of an initial business combination.
Redwoods Acquisition Corp II is led by CEO and Chairman Jiande Chen, the former CEO of IMAX China (HKEX: 1970). Chen has experience with other SPACs and previously served as CEO of Redwoods Acquisition until its 2024 merger with ANEW Medical (now Greenland Mines; Nasdaq: GRML; -46% from $10 offer price). He is joined by CFO and Director James Yu, the Head of Global Markets Sales at United Overseas Bank (China). The SPAC plans to target businesses in the energy storage, telecommunications, and consumer sectors with enterprise values of $150 million to $300 million.
The New York, NY-based company was founded in 2024. It plans to list on the Nasdaq under the symbol RDWDU.RC. Revere Securities is the sole bookrunner on the deal.
