Black Spade Acquisition II Co Announces Closing of Partial Exercise of IPO Over-Allotment Option
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), una società di acquisizione a scopo speciale (SPAC), ha annunciato l'esercizio parziale dell'opzione di sovrallocazione degli underwriter nella sua offerta pubblica iniziale (IPO). Gli underwriter hanno acquistato ulteriori 300.000 unità a 10,00 dollari per unità, generando circa 3.000.000 dollari di introiti lordi. Il numero totale di unità vendute nell'offerta pubblica è aumentato a 15.300.000 unità, portando a un introito lordo totale di 153.000.000 dollari. Ogni unità è composta da una azione ordinaria di Classe A e un terzo di un warrant rimborsabile, con ogni warrant intero che consente l'acquisto di un'azione ordinaria di Classe A a 11,50 dollari per azione. Le azioni ordinarie di Classe A e i warrant verranno scambiati sotto i simboli BSII e BSIIW su Nasdaq una volta che inizieranno il trading separato. Clear Street e Cohen & Company Capital Markets hanno agito come co-manager principali. Latham & Watkins LLP ha fornito assistenza legale alla società, mentre Loeb & Loeb LLP ha agito come consulente legale degli underwriter.
Black Spade Acquisition II Co (NASDAQ: BSIIU), una empresa de adquisición de propósito especial (SPAC), anunció el ejercicio parcial de la opción de sobreasignación de los suscriptores en su oferta pública inicial (IPO). Los suscriptores compraron 300,000 unidades adicionales a $10.00 por unidad, generando aproximadamente $3,000,000 en ingresos brutos. El número total de unidades vendidas en la oferta pública aumentó a 15,300,000 unidades, resultando en ingresos brutos totales de $153,000,000. Cada unidad consiste en una acción ordinaria de Clase A y un tercio de un warrant redimible, donde cada warrant completo permite la compra de una acción ordinaria de Clase A a $11.50 por acción. Las acciones ordinarias de Clase A y los warrants comercio bajo los símbolos BSII y BSIIW en Nasdaq una vez que comiencen el comercio por separado. Clear Street y Cohen & Company Capital Markets actuaron como gerentes de libro conjuntos. Latham & Watkins LLP sirvió como asesor legal de la empresa, mientras que Loeb & Loeb LLP sirvió como asesor legal de los suscriptores.
블랙 스페이드 인수 II 컴퍼니 (NASDAQ: BSIIU), 특수목적 인수회사(SPAC),는 IPO에서 인수인들의 추가 할당 옵션의 부분 행사를 발표했습니다. 인수인들은 추가로 300,000단위를 개당 10.00달러에 구매하여 약 3,000,000달러의 총 수익을 창출했습니다. 공모에서 판매된 총 단위 수는 15,300,000단위로 증가하여 총 총수익이 153,000,000달러에 달했습니다. 각 단위는 1개의 클래스 A 보통주와 1/3의 상환 가능한 보증서로 구성되어 있으며, 각 전체 보증서는 11.50달러의 가격으로 1개의 클래스 A 보통주를 구매할 수 있습니다. 클래스 A 보통주와 보증서는 거래가 시작되면 나스닥에서 BSII와 BSIIW 심볼로 거래됩니다. 클리어 스트리트와 코헨 & 컴퍼니 캐피탈 마켓이 공동 북 운영 관리자로 활동했습니다. Latham & Watkins LLP는 회사의 법률 자문을 제공하며, Loeb & Loeb LLP는 인수인의 법률 자문을 담당했습니다.
Black Spade Acquisition II Co (NASDAQ: BSIIU), une société d'acquisition à but spécial (SPAC), a annoncé l'exercice partiel de l'option de surallocation des souscripteurs lors de son introduction en bourse (IPO). Les souscripteurs ont acheté 300 000 unités supplémentaires à 10,00 $ par unité, générant environ 3 000 000 $ de recettes brutes. Le nombre total d'unités vendues dans l'offre publique a augmenté à 15 300 000 unités, entraînant des recettes brutes totales de 153 000 000 $. Chaque unité se compose d'une action ordinaire de Classe A et d'un tiers d'un bon de souscription remboursable, chaque bon de souscription entier permettant l'achat d'une action ordinaire de Classe A à 11,50 $ par action. Les actions ordinaires de Classe A et les bons de souscription seront négociés sous les symboles BSII et BSIIW sur Nasdaq une fois qu'ils commenceront à être négociés séparément. Clear Street et Cohen & Company Capital Markets ont agi en tant que co-gestionnaires principaux. Latham & Watkins LLP a agi en tant que conseiller juridique de la société, tandis que Loeb & Loeb LLP a agi en tant que conseiller juridique des souscripteurs.
Black Spade Acquisition II Co (NASDAQ: BSIIU), ein Unternehmen für spezielle Übernahmen (SPAC), gab die teilweise Ausübung der Überzuweisungsoption der Underwriter in seiner Börseneinführung bekannt. Die Underwriter kauften zusätzlich 300.000 Einheiten zu je 10,00 Dollar, was ungefähr 3.000.000 Dollar an Bruttoerlösen generiert. Die Gesamtzahl der im öffentlichen Angebot verkauften Einheiten stieg auf 15.300.000, was zu Gesamterlösen von 153.000.000 Dollar führte. Jede Einheit besteht aus einer Klasse A Stammaktie und einem Drittel eines umtauscherbaren Warrants, wobei jeder vollständige Warrant den Kauf einer Klasse A Stammaktie zu 11,50 Dollar pro Aktie erlaubt. Die Klasse A Stammaktien und Warrants werden an Nasdaq unter den Tickersymbolen BSII und BSIIW gehandelt, sobald sie mit dem separaten Handel beginnen. Clear Street und Cohen & Company Capital Markets fungierten als gemeinsame Buchführer. Latham & Watkins LLP diente als rechtlicher Berater des Unternehmens, während Loeb & Loeb LLP als rechtlicher Berater der Underwriter tätig war.
- The partial exercise of the over-allotment option generated an additional $3,000,000 in gross proceeds.
- Total gross proceeds from the IPO increased to $153,000,000.
- The total number of units sold in the public offering increased to 15,300,000 units.
- None.
Insights
The partial exercise of the over-allotment option by underwriters for Black Spade Acquisition II Co's IPO is a positive development for the SPAC. This move has increased the total gross proceeds to
The pricing at
Investors should note that while increased capital is generally positive, SPAC success ultimately depends on finding an attractive merger target within the specified timeframe. The involvement of reputable underwriters and legal counsel suggests a well-structured offering, but as with all SPACs, investors should carefully consider the risks and potential rewards before making investment decisions.
After giving effect to this partial exercise of the over-allotment option, the total number of units sold in the public offering increased to 15,300,000 units, resulting in total gross proceeds of
Each unit consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share of the Company at a price of
Clear Street LLC and Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, acted as joint book-running managers.
Latham & Watkins LLP served as legal counsel to the Company. Loeb & Loeb LLP served as legal counsel to the underwriters.
The offering was made only by means of a prospectus, copies of which may be obtained from Clear Street, Attn: Syndicate Department, 150 Greenwich Street, 45th floor,
A registration statement relating to these securities has been filed with the
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Black Spade Acquisition II Co
Black Spade Acquisition II Co is the second SPAC of its founder, Black Spade Capital and its management team incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or assets. While the Company may pursue an acquisition or a business combination with a target in any business or industry, it believes that the entertainment, lifestyle and technology industries, particularly those that are major beneficiaries of artificial intelligence (“AI”), provide ample business combination opportunities.
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. No assurance can be given that the remaining over-allotment option discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Registration Statement and related prospectus filed in connection with the initial public offering with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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Investor Contact:
IR@blackspadeacquisitionii.com
Source: Black Spade Acquisition II Co
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