A SPAC II Acquisition prices $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, raised $185 million by offering 18.5 million units at $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.

The company is led by CEO and CFO Claudius Tsang, who currently leads two public SPACs seeking acquisition targets: February 2022 IPO A SPAC I Acquisition (ASCAU) and April 2021 IPO Model Performance Acquisition (MPACU). Tsang previously served as a Partner and Co-head of Private Equity of North Asia at Franklin Templeton. He is joined by Chairman Malcolm 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).

A SPAC II Acquisition plans to list on the Nasdaq under the symbol ASCBU. Maxim Group LLC acted as sole bookrunner on the deal.