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Moelis & Company's second SPAC Atlas Crest Investment II files for a $250 million IPO

January 5, 2021

Atlas Crest Investment II, the second blank check company formed by Moelis and Company, filed on Tuesday with the SEC to raise up to $250 million in an initial public offering.

The New York, NY-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Atlas Crest Investment II would command a market value of $313 million.

The company is led by Chairman Ken Moelis, founder and Managing Director of Moelis & Company, and CEO and Director Michael Spellacy, a former Senior Managing Director at Accenture and Global Industry Leader of Accenture Capital Markets. Management's previous SPAC, Atlas Crest Investment Corp. (ACIC.U; +6% from $10 offer price), raised $500 million in October 2020. While Atlas Crest Investment II has not selected a target industry, it plans to leverage its management team's experience and target businesses that will benefit from its strategic and operational value add.

Atlas Crest Investment II was founded in 2020 and plans to list on the NYSE under the symbol ACII.U. Cantor Fitzgerald is the sole bookrunner on the deal.