A SPAC II Acquisition files for a $185 million IPO, targeting new economy sectors

A SPAC II Acquisition, a blank check company targeting new economy sectors in North America, Europe, and Asia, filed on Monday with the SEC to raise up to $185 million in an initial public offering.

The company plans to raise $185 million by offering 18.5 million units at a price of $10. Each unit consists of one share of common stock, one-half of a warrant exercisable at $11.50, and a right to receive one-tenth of a share of common stock upon the closing of a business combination. At the proposed deal size, A SPAC II Acquisition would command a market value of $234 million.

The company is led by CEO and CFO Claudius Tsang, who currently leads two public SPACs seeking acquisition targets: A SPAC I Acquisition (ASCAU), which raised $60 million in February 2022, and Model Performance Acquisition (MPACU), which raised $50 million in April 2021. Tsang previously served as a Partner and Co-head of Private Equity of North Asia at Franklin Templeton. The company is also led by Chairman Malcolm F. MacLean IV, who founded Star Asia Group and co-founded Taurus Capital Partners.

A SPAC II Acquisition plans to target new economy sectors, such as proptech and fintech in North America, Europe and Asia (excluding China).

The company was founded in 2021, and plans to list on the Nasdaq under the symbol ASCBU. A SPAC II Acquisition filed confidentially on August 10, 2021. Maxim Group LLC is the sole bookrunner on the deal.