Atlantic Coastal Acquisition Corp. II announced the pricing of its upsized $261 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ACABU” Friday, January 14.
The new SPAC intends to identify a business in the next-generation mobility sector or other related technology sectors. Atlantic Coastal II is led by Chief Executive Officer and Chairman Shahraab Ahmad, Chief Strategy Officer Anthony D. Eisenberg, Chief Financial Officer Jason Chryssicas, and President Burt Jordan.
Total SPAC deal count for 2022 year-to-date is now 12. This offering is expected to close on Wednesday, January 19.
Cantor is acting as the sole book-running manager for the offering. Academy Securities, Inc. and Siebert Williams Shank & Co., LLC are acting as co-managers. Pillsbury Winthrop Shaw Pittman LLP is serving as Issuer’s Counsel with Elenoff Grossman & Schole LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
D. Boral ARC Acquisition II Corp. (NASDAQ:ARBCU) has filed for a $250 million SPAC to give underwriter D. Boral a second in-house SPAC to pursue deals with. The new SPAC offers investors a 1/2 warrant and an initial 18-month time frame to complete a deal. D. Boral II’s sponsor may automatically extend this once by...
Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...
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