Atlantic Coastal Acquisition II banked $300 million in its IPO of 30 million units, including the full exercise of the underwriters’ over-allotment option to purchase 3.9 million units.
The units list on the Nasdaq under the ticker symbol ACABU.
When the securities comprising the units begin separate trading, shares and warrants are expected to be listed under the symbols ACAB and ACABW.
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 Fitzgerald was sole book-running manager for the offering. Academy Securities and Siebert Williams Shank & Co. werer co-managers. Read more.
