Andretti Acquisition Corp. II Completes $230 Million Initial Public Offering
Andretti Acquisition Corp. II has successfully completed its initial public offering (IPO), raising $230 million by selling 23 million units at $10 per unit. Each unit comprises one Class A ordinary share and half a redeemable warrant. The units began trading on Nasdaq under the symbol 'POLEU' on September 6, 2024. Once separate trading begins, shares and warrants will trade as 'POLE' and 'POLEW' respectively.
The company, a blank check company, aims to merge or acquire businesses, focusing on assets with growth potential. Led by William J. Sandbrook as Chairman and William M. Brown as CEO, with Michael M. Andretti as Special Advisor and Director, the management team also includes racing legend Mario Andretti as Special Advisor. BTIG, served as the sole book-running manager for the offering.
Andretti Acquisition Corp. II ha completato con successo la sua offerta pubblica iniziale (IPO), raccogliendo 230 milioni di dollari attraverso la vendita di 23 milioni di unità a 10 dollari per unità. Ogni unità è composta da una azione ordinaria di classe A e mezzo warrant rimborsabile. Le unità hanno iniziato a essere scambiate su Nasdaq con il simbolo 'POLEU' il 6 settembre 2024. Una volta iniziato il trading separato, le azioni e i warrant verranno scambiati come 'POLE' e 'POLEW' rispettivamente.
La società, una società di assegni in bianco, mira a fondere o acquisire attività, concentrandosi su beni con potenziale di crescita. Guidato da William J. Sandbrook come Presidente e William M. Brown come CEO, con Michael M. Andretti come Consigliere Speciale e Direttore, il team di gestione include anche la leggenda delle corse Mario Andretti come Consigliere Speciale. BTIG, ha servito come unico gestore del libro per l'offerta.
Andretti Acquisition Corp. II ha completado con éxito su oferta pública inicial (IPO), recaudando 230 millones de dólares mediante la venta de 23 millones de unidades a 10 dólares por unidad. Cada unidad está compuesta por una acción ordinaria de Clase A y medio warrant redimible. Las unidades comenzaron a cotizar en Nasdaq bajo el símbolo 'POLEU' el 6 de septiembre de 2024. Una vez que comience la negociación separada, las acciones y los warrants se negociarán como 'POLE' y 'POLEW', respectivamente.
La empresa, una compañía cheque en blanco, tiene como objetivo fusionarse o adquirir negocios, centrándose en activos con potencial de crecimiento. Dirigido por William J. Sandbrook como Presidente y William M. Brown como CEO, con Michael M. Andretti como Asesor Especial y Director, el equipo de gestión también incluye a la leyenda de las carreras Mario Andretti como Asesor Especial. BTIG, actuó como el único gerente de libros para la oferta.
Andretti Acquisition Corp. II는 상장 공개 제안(IPO)를 성공적으로 완료하여 2억 3천만 달러를 모금하였고, 2천3백만 개의 유닛을 유닛당 10달러에 판매했습니다. 각 유닛은 A 클래스의 보통주 1주 및 절반의 환매 보증으로 구성됩니다. 유닛은 2024년 9월 6일 Nasdaq에서 'POLEU'라는 기호로 거래를 시작했습니다. 별도 거래가 시작되면 주식과 보증서는 각각 'POLE' 및 'POLEW'로 거래됩니다.
이 회사는 빈 수표 회사로서 성장 가능성이 있는 자산에 초점을 맞춰 사업을 인수하거나 합병하는 것을 목표로 하고 있습니다. William J. Sandbrook가 회장을 맡고 William M. Brown이 CEO로 있는 이 경영진 팀은 또한 Michael M. Andretti를 특별 고문 및 이사로, 레이싱 전설인 Mario Andretti를 특별 고문으로 포함하고 있습니다. BTIG,는 이번 공모의 단독 주관회사로 활동했습니다.
Andretti Acquisition Corp. II a réussi à compléter son offre publique initiale (IPO), levant 230 millions de dollars en vendant 23 millions d'unités à 10 dollars par unité. Chaque unité comprend une action ordinaire de classe A et une demi-option de rachat. Les unités ont commencé à être échangées sur Nasdaq sous le symbole 'POLEU' le 6 septembre 2024. Une fois le trading séparé commencé, les actions et les options seront échangées sous 'POLE' et 'POLEW' respectivement.
L'entreprise, une société de chèques en blanc, vise à fusionner ou acquérir des entreprises, en se concentrant sur des actifs à fort potentiel de croissance. Dirigée par William J. Sandbrook en tant que président et William M. Brown en tant que PDG, avec Michael M. Andretti en tant que conseiller spécial et directeur, l'équipe de direction comprend également la légende des courses Mario Andretti en tant que conseiller spécial. BTIG, a agi en tant que gestionnaire exclusif de l'offre.
Die Andretti Acquisition Corp. II hat erfolgreich ihr öffentliche Angebot (IPO) abgeschlossen und 230 Millionen Dollar durch den Verkauf von 23 Millionen Einheiten zu 10 Dollar pro Einheit gesammelt. Jede Einheit besteht aus einer Class-A-Stammaktie und einer halben einlösbaren Warrant. Die Einheiten begannen am 6. September 2024 an der Nasdaq unter dem Symbol 'POLEU' zu handeln. Sobald der getrennte Handel beginnt, werden Aktien und Warrants unter 'POLE' und 'POLEW' gehandelt.
Das Unternehmen, eine Blankoscheckgesellschaft, zielt darauf ab, Unternehmen zu fusionieren oder zu übernehmen und sich auf Vermögenswerte mit Wachstumspotenzial zu konzentrieren. Angeführt von William J. Sandbrook als Vorsitzendem und William M. Brown als CEO, mit Michael M. Andretti als Sonderberater und Direktor, umfasst das Managementteam auch die Rennlegende Mario Andretti als Sonderberater. BTIG, fungierte als alleiniger Bookrunner für das Angebot.
- Successful IPO raising $230 million, indicating strong investor interest
- Listing on Nasdaq, providing liquidity and visibility for investors
- Experienced management team including industry experts like Michael and Mario Andretti
- Full exercise of over-allotment option, suggesting high demand for the offering
- Blank check company structure carries inherent risks as future acquisition targets are unknown
- No specific business operations or revenue streams at present
- Potential for shareholder dilution upon warrant exercise
Insights
Andretti Acquisition Corp. II's successful $230 million IPO signals strong investor interest in the blank check company sector. The full exercise of the over-allotment option indicates robust demand. With units trading at
The successful IPO of Andretti Acquisition Corp. II reflects the ongoing appetite for SPACs despite recent market volatility. The $230 million raise positions the company well to pursue significant acquisitions. The management team's diverse background, combining business acumen with motorsport expertise, could be a differentiator in a crowded SPAC market. However, investors should note the increasing scrutiny on SPACs by regulators and the potential for market saturation. The company's broad acquisition focus may be both an advantage and a challenge, allowing flexibility but potentially leading to longer search periods. The inclusion of high-profile advisors like Mario Andretti may help in deal sourcing and add credibility, potentially giving this SPAC an edge in a competitive landscape.
INDIANAPOLIS, IN, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Andretti Acquisition Corp. II (the “Company”) announced today the closing of its initial public offering of 23,000,000 units, which includes 3,000,000 units issued pursuant to the exercise by the underwriter of its over-allotment option in full. The offering was priced at
The Company’s units began trading on September 6, 2024 on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “POLEU.” Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise 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. (“Bill”) Sandbrook, its Chairman of the Board of Directors, William M. (“Matt”) 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 acted as sole book-running manager for the offering.
The offering was made only by means of a prospectus, copies of which may be obtained from: BTIG, LLC, 65 East 55th Street New York, New York 10022, Attn: Syndicate Department, BTIGSyndicateCoverage@btig.com.
A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) 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 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 the anticipated use of the net proceeds thereof. No assurance can be given that the net proceeds of the offering 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 offering filed 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.
Investor Contacts
Andretti Acquisition Corp. II
Company web site: www.andrettiacquisition.com
Investor relations email address: ir@andrettiacquisition.com
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