Black Spade Acquisition II Co (NASDAQ: BSIIU) recently announced the successful completion of its initial public offering (IPO) on August 29, 2024. The company sold 15,000,000 units, each comprised of one Class A ordinary share and one-third of a redeemable warrant, at a price of $10.00 per unit, generating gross proceeds of $150,000,000.
Simultaneously with the IPO, Black Spade Acquisition II Co also finalized a private placement of 11,000,000 warrants to Black Spade Sponsor LLC II at a price of $0.50 per warrant, resulting in gross proceeds of $5,500,000. After accounting for expenses, a total of $150,000,000 was deposited into a U.S.-based trust account for the benefit of the company’s public shareholders, with Continental Stock Transfer & Trust Company serving as the trustee.
This filing indicates that Black Spade Acquisition II Co has successfully completed its IPO, raising significant funds for future growth and strategic initiatives. With the trust account established and financial statements reported, the company is well-positioned to move forward in its business objectives.
Additionally, Black Spade Acquisition II Co confirmed its status as an emerging growth company as defined by Rule 405 of the Securities Act of 1933 and has elected not to use the extended transition period for complying with new or revised financial accounting standards provided under Section 13(a) of the Exchange Act.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Black Spade Acquisition II’s 8K filing here.
