Colonnade Acquisition II closed its IPO of 33 million units, including 3 million units pursuant to the underwriters’ partial exercise of their over-allotment option.
Units trade on the NYSE under CLAA.U. Each consists of one Class A ordinary share and one-fifth of one redeemable warrant, with whole warrants exercisable at $11.50 for a share. After the securities comprising the units begin separate trading, shares and warrants are expected to list on the NYSE under CLAA and CLAA WS, respectively.
Targeting companies with “favorable growth prospects,” the SPAC is led by Chairman Joseph Sambuco, who is also chairman and CEO of Colonnade Properties, which he founded along with Prudential Financial in 2000. Read more.
