Black Spade Acquisition II Co (NASDAQ: BSIIU), a special purpose acquisition company (SPAC), announced today that the underwriters of its initial public offering (IPO) have partially exercised their option to purchase an additional 300,000 units at $10.00 per unit, generating approximately $3,000,000 in additional gross proceeds. The underwriters still hold an option to purchase up to 1,950,000 additional units.
Following this partial exercise, the total number of units sold in the IPO increased to 15,300,000, bringing the total gross proceeds to $153,000,000.
Each unit consists of one Class A ordinary share and one-third of a redeemable warrant, with each whole warrant entitling the holder to purchase one Class A ordinary share at $11.50 per share. Upon separation of the units for trading, the Class A ordinary shares and warrants will trade on Nasdaq under the ticker symbols “BSII” and “BSIIW,” respectively.
Clear Street LLC and Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, acted as joint book-running managers for the offering. Latham & Watkins LLP served as legal counsel to Black Spade Acquisition II Co, and Loeb & Loeb LLP served as legal counsel to the underwriters.
The offering was made exclusively through a prospectus, available from Clear Street’s Syndicate Department or via the SEC’s website at www.sec.gov.
A registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission and became effective on August 23, 2024.
About Black Spade Acquisition II Co
Black Spade Acquisition II Co is the second SPAC launched by Black Spade Capital, aiming to execute a merger, share exchange, asset acquisition, or similar business combination. While open to acquisitions in any industry, the company is particularly focused on opportunities in entertainment, lifestyle, and technology, with a specific interest in businesses benefiting from artificial intelligence (AI).
Forward-Looking Statements
This release contains forward-looking statements that involve risks and uncertainties, which could cause actual results to differ. These statements are subject to various risks beyond the Company’s control, as outlined in the registration statement filed with the SEC. The Company undertakes no obligation to update these statements, except as required by law.
