Aldel Financial II Inc. announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ALDFU”, Tuesday, October 22, 2024.
The new SPAC plans to combine with an established business of scale with prospects for positive cash flow and the infrastructure to handle being a public company.
The sponsor team for Aldel II is to be led by Chief Executive Office Robert I. Kauffman alongside Chief Financial Officer and Secretary Hassan R. Baqar. Its Board is to be made up of nominees Stuart Kovensky, Jonathan Marshall, Meltem Demirors, and Peter Early.
Total SPAC deal count for 2024 year-to-date is now 38. This offering is expected to close on Wednesday, October 23, 2024.
BTIG, LLC is acting as sole book-running manager for the offering. Loeb & Loeb LLP is serving as Issuer’s Counsel with White & Case LLP serving as Underwriter’s Counsel. Fruci Associates II PLLC serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
At the SPAC of Dawn As the SPAC market has come streaming back to life in a burst of new issuance beginning this summer, some long abandoned vehicles are rising anew as well. The latest of these is FPA Energy (NASDAQ:FPAQU), whose 2023 filing was later withdrawn, but it is now back with a fresh...
Flagfish Acquisition Corporation (NASDAQ:FFSHU) has filed for a $60 million IPO to give another bite at the apple to a China-based team that last closed a deal in the biotech space. Flagfish Chairman and CEO Matthew Chen also serves in the same role for Flag Ship (NASDAQ:FSHP), which just last month announced a deal with...
At the SPAC of Dawn SPACs have been betting on a post-pandemic rebirth in live events over the past few years, but it appears that this boom has fully come to fruition. Event organizer Live Nation (NYSE:LYV) announced yesterday that it just closed its busiest summer concert season ever, bringing in $7.7 billion in revenue...
Hennessy Capital VII (NASDAQ:HVIIU) has filed for a $150 million IPO with competitive terms to give a fresh vehicle to one of the most prolific SPAC teams of the past decade. This team has had a hand in 13 different business combinations dating back to Hennessy I‘s 2015 combination with school bus manufacturer Blue Bird...
At the SPAC of Dawn With the US election and a historic stock rally in the rear view, the question now turns to how long this rally will last and SPACs have not been shy so far about trying to take advantage of the good vibes. Two new SPACs filed for IPOs Friday evening and...