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Black Spade Acquisition II Co announced that starting October 7, 2024, holders of units from its initial public offering can separately trade Class A ordinary shares and warrants. The company's IPO included 15,300,000 units, raising gross proceeds of $153,000,000. Units will continue trading on Nasdaq under "BSIIU", while separated Class A shares and warrants will trade under "BSII" and "BSIIW" respectively. Only whole warrants will trade, and unit holders must contact Continental Stock Transfer & Trust Company to separate units. Clear Street and Cohen & Company Capital Markets acted as joint book-running managers for the offering, which was made through a prospectus.
Black Spade Acquisition II Co (NASDAQ: BSIIU), a special purpose acquisition company (SPAC), announced the partial exercise of the underwriters' over-allotment option in its IPO. The underwriters purchased an additional 300,000 units at $10.00 per unit, generating approximately $3,000,000 in gross proceeds. The total number of units sold in the public offering increased to 15,300,000 units, resulting in total gross proceeds of $153,000,000. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant allowing the purchase of one Class A ordinary share at $11.50 per share. The Class A ordinary shares and warrants will trade under the ticker symbols BSII and BSIIW on Nasdaq once they begin separate trading. Clear Street and Cohen & Company Capital Markets acted as joint book-running managers. Latham & Watkins LLP served as legal counsel to the Company, while Loeb & Loeb LLP served as legal counsel to the underwriters.
Black Spade Acquisition II Co (NASDAQ: BSIIU) has successfully closed its initial public offering of 15,000,000 units at $10.00 per unit, raising $150 million in gross proceeds. The units, trading under 'BSIIU', consist of one Class A ordinary share and one-third of a redeemable warrant. Once separated, shares and warrants will trade as 'BSII' and 'BSIIW' respectively.
The company, a special purpose acquisition company (SPAC), is sponsored by an affiliate of Black Spade Capital , the private investment arm of Lawrence Ho, Chairman & CEO of Melco Resorts & Entertainment. Clear Street and Cohen & Company Capital Markets acted as joint book-running managers. The SPAC aims to pursue merger opportunities in the entertainment, lifestyle, and technology industries, with a focus on AI beneficiaries.
Black Spade Acquisition II Co, a special purpose acquisition company (SPAC) sponsored by Black Spade Capital , has announced the pricing of its initial public offering (IPO). The company is offering 15,000,000 units at $10.00 per unit, expected to be listed on Nasdaq under the symbol "BSIIU" on August 28, 2024. Each unit comprises one Class A ordinary share and one-third of a redeemable warrant.
The company's management team includes Dennis Tam (Executive Chairman & Co-CEO), Kester Ng (Co-CEO & CFO), and Richard Taylor (Co-CEO & COO). They previously served in executive roles at Black Spade Acquisition Co, which completed a $23 billion business combination with VinFast in August 2023. The IPO is expected to close on August 29, 2024, subject to customary conditions.
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