Atlas Crest Investment II, the second blank check company formed by Moelis and Company, raised $300 million by offering 30 million units at $10. The company offered 5 million more units than anticipated. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50.
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; +14% 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 plans to list on the NYSE under the symbol ACII.U. Cantor Fitzgerald acted as a lead manager on the deal.
