Andretti Acquisition Corp. II Announces the Pricing of $200,000,000 Initial Public Offering
Andretti Acquisition Corp. II has announced the pricing of its initial public offering of 20,000,000 units at $10.00 per unit, expected to begin trading on Nasdaq under the symbol "POLEU" on September 6, 2024. Each unit comprises one Class A ordinary share and half a redeemable warrant. The company, a blank check company focused on business combinations, is led by William J. Sandbrook as Chairman and William M. Brown as CEO, with Michael M. Andretti and Mario Andretti serving as Special Advisors. BTIG, is the sole book-running manager for the $200 million offering, which is expected to close on September 9, 2024, subject to conditions.
Andretti Acquisition Corp. II ha annunciato la valutazione della sua offerta pubblica iniziale di 20.000.000 di unità a $10,00 per unità, che si prevede inizierà a essere scambiata su Nasdaq con il simbolo "POLEU" il 6 settembre 2024. Ogni unità comprende una azione ordinaria di Classe A e metà di un warrant rimborsabile. L'azienda, un società a scopo speciale focalizzata su combinazioni aziendali, è guidata da William J. Sandbrook in qualità di Presidente e da William M. Brown come CEO, con Michael M. Andretti e Mario Andretti che fungono da Consulenti Speciali. BTIG è il gestore unico dell'emissione per un totale di $200 milioni, che si prevede si chiuderà il 9 settembre 2024, soggetto a condizioni.
Andretti Acquisition Corp. II ha anunciado el precio de su oferta pública inicial de 20.000.000 de unidades a $10.00 por unidad, que se espera comience a cotizar en Nasdaq bajo el símbolo "POLEU" el 6 de septiembre de 2024. Cada unidad comprende una acción ordinaria de Clase A y medio warrant redimible. La compañía, una sociedad de cheque en blanco enfocada en combinaciones comerciales, está dirigida por William J. Sandbrook como Presidente y William M. Brown como CEO, con Michael M. Andretti y Mario Andretti como Asesores Especiales. BTIG es el único administrador de libros de la emisión de $200 millones, que se espera cierre el 9 de septiembre de 2024, sujeto a condiciones.
Andretti Acquisition Corp. II는 20,000,000개의 단위에 대한 상장 공모가를 단위당 $10.00에 책정했다고 발표했으며, 2024년 9월 6일부터 Nasdaq에서 "POLEU"라는 기호로 거래가 시작될 것으로 예상됩니다. 각 단위는 A 클래스의 보통 주식 1주와 환매 가능한 워런트 반 개로 구성됩니다. 이 회사는 비즈니스 결합에 중점을 둔 특수 목적 회사로, William J. Sandbrook이 회장, William M. Brown이 CEO로 운영하며, Michael M. Andretti와 Mario Andretti가 특별 고문으로 활동하고 있습니다. BTIG는 2억 달러의 공모를 위한 유일한 북리너로, 2024년 9월 9일에 조건부로 마감될 예정입니다.
Andretti Acquisition Corp. II a annoncé le prix de son offre publique initiale de 20.000.000 d'unités à 10,00 $ par unité, qui devrait commencer à être négociée sur le Nasdaq sous le symbole "POLEU" le 6 septembre 2024. Chaque unité comprend une action ordinaire de Classe A et une demi-option de rachat. L'entreprise, une société de chèques en blanc axée sur les combinaisons d'entreprises, est dirigée par William J. Sandbrook en tant que président et William M. Brown en tant que PDG, avec Michael M. Andretti et Mario Andretti servant de conseillers spéciaux. BTIG est le seul gestionnaire de livres pour l', qui devrait se clôturer le 9 septembre 2024, sous réserve de conditions.
Andretti Acquisition Corp. II hat die Preisgestaltung ihres Erstpublic-Angebots von 20.000.000 Einheiten zu einem Preis von $10,00 pro Einheit bekannt gegeben, das voraussichtlich am 6. September 2024 unter dem Symbol "POLEU" an der Nasdaq gehandelt wird. Jede Einheit besteht aus einer Klasse A Stammaktie und einer halben einlösbaren Warrant. Das Unternehmen, eine Spezialgesellschaft, die sich auf Unternehmensfusionen konzentriert, wird von William J. Sandbrook als Präsident und William M. Brown als CEO geleitet, während Michael M. Andretti und Mario Andretti als besondere Berater tätig sind. BTIG ist der alleinige Buchführer für das $200 Millionen Angebot, das voraussichtlich am 9. September 2024 unter Vorbehalt abgeschlossen wird.
- Initial public offering of $200 million, indicating strong investor interest
- Listing on Nasdaq, providing increased visibility and liquidity
- Experienced management team with industry veterans
- 45-day option for underwriters to purchase additional 3,000,000 units, potentially increasing capital raised
- Blank check company structure carries inherent risks and uncertainties
- No specific target business identified yet for acquisition or merger
Insights
The pricing of Andretti Acquisition Corp. II's $200 million IPO marks a significant event in the SPAC market. With units priced at
The regulatory compliance aspects of this IPO are crucial. The registration statement's effectiveness on September 5, 2024, indicates SEC approval, a key milestone. The company's disclosure about the offering being made only through a prospectus aligns with securities law requirements. The structure of the units, including the warrant terms, is standard for SPACs but requires careful investor scrutiny. The 45-day over-allotment option is a common feature that provides market stabilization. Importantly, the press release includes a statutory prospectus disclaimer, which is essential for regulatory compliance. Potential investors should be aware that despite these legal steps, SPAC investments carry unique risks, including potential conflicts of interest and the pressure to complete a business combination within a set timeframe.
This IPO reflects ongoing interest in the SPAC market, despite recent volatility. The
New York, NY , Sept. 05, 2024 (GLOBE NEWSWIRE) -- Andretti Acquisition Corp. II (the “Company”) announced today the pricing of its initial public offering of 20,000,000 units at a price of
The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution but is focused on acquiring a compelling asset with a skilled management team that is ready to grow.
The Company’s management team is led by William J. Sandbrook, its Chairman of the Board of Directors (the “Board”), William M. Brown, its Chief Executive Officer, and Michael M. Andretti, a Special Advisor and Director. Mario Andretti also serves as a Special Advisor. In addition, the Board includes Zakary C. Brown, James W. Keyes, Cassandra S. Lee, Gerald D. Putnam, and John J. Romanelli.
BTIG, LLC is acting as sole book-running manager for the offering.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from BTIG, LLC, Attention: 65 East 55th Street, New York, New York 10022, or by email at ProspectusDelivery@btig.com.
A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on September 5, 2024. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds will be used as indicated.
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 Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. Copies of these documents 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.
Investor Contacts
Andretti Acquisition Corp. II
William M. Brown
matt.brown@andrettiacquisition.com
(317) 872-2700
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