Schultze Special Purpose Acquisition II today in an amended S-1 said it now plans to offer 15 million units, down from the 20 million initially planned when the SPAC filed in March.
A unit consists of one share of Class A common stock and one-half of one redeemable warrant.
The SPAC still intends to target companies that may be experiencing liquidity constraints, are financially stressed or have experienced and emerged from a financial restructuring.
Shultze II is led by Chairman, President and CEO George J. Schultze, J.D., who is also the managing member, chairman of Investment Committee and chairman of Strategy Committee and founder at Schultze Asset Management.
Stifel and Mizuho Securities are joint book-running managers for the offering. The underwriters have an option to purchase up to an additional 2,25 million units to cover any over-allotments.
The SPAC has applied for a Nasdaq listing under SAMAU. Read more.
