Atlantic Coastal Acquisition II filed to offer 25 million units, each priced at $10 and consisting of one share and one-half of a warrant.
The sponsors have committed to the purchasde of up to $8.9 million in warrants at $1.50 each.
The new SPAC will seek a target in the next-generation mobility sector.
Atlantic Coastal II is led by CEO and Chairman Shahraab Ahmad whoi is also CEO and chairman of ACA I. Previously, he most recently served as the CIO for Decca Capital.
The first Atlantic Coastal SPAC announced plans this week to merge with industrial additives manufacturer Essentium.
Cantor is sole book-running manager. The SPAC intends to apply for a Nasdaq listing under ACABU. Read more.
