Kingstown Capital's SPAC Inflection Point Acquisition II files for a $200 million IPO

Inflection Point Acquisition II, the second blank check company formed by Kingstown Capital targeting disruptive growth sectors, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.

The New York, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Inflection Point Acquisition II would command a market value of $250 million.

The company is led by CEO and Chairman Michael Blitzer, the founder and Co-CEO of Kingstown Capital Management. It plans to target North American and European businesses in disruptive growth sectors, focusing on those that are tech-enabled and customer-focused with a large addressable market, among other characteristics.

Management's previous SPAC, Inflection Point Acquisition, went public in September 2021 and completed its combination with aerospace company Intuitive Machines (LUNR; +1% from $10 offer price) this past February.

Inflection Point Acquisition II was founded in 2023 and plans to list on the Nasdaq under the symbol IPXXU. Cantor Fitzgerald is the sole bookrunner on the deal.