Andretti Acquisition Corp. II Announces the Pricing of $200,000,000 Initial Public Offering
September 05 2024 - 5:10PM
Andretti Acquisition Corp. II (the “Company”) announced today the
pricing of its initial public offering of 20,000,000 units at a
price of $10.00 per unit. The units are expected to be listed on
The Nasdaq Stock Market LLC (“Nasdaq”) and begin trading tomorrow,
September 6, 2024, under the ticker symbol “POLEU.” Each unit
consists of one Class A ordinary share and one-half of one
redeemable warrant, with each whole warrant entitling the holder
thereof to purchase one Class A ordinary share at a price of $11.50
per share, subject to certain adjustments. No fractional warrants
will be issued upon separation of the units and only whole warrants
will trade. Once the securities constituting the units begin
separate trading, the Class A ordinary shares and warrants are
expected to be listed on Nasdaq under the symbols “POLE” and
“POLEW,” respectively. The offering is expected to close on
September 9, 2024, subject to customary closing conditions. The
Company has granted the underwriters a 45-day option to purchase up
to an additional 3,000,000 units at the initial public offering
price to cover over-allotments, if any.
The Company is a blank check company formed for
the purpose of effecting a merger, amalgamation, share exchange,
asset acquisition, share purchase, reorganization or similar
business combination with one or more businesses. The Company may
pursue an acquisition opportunity in any business or industry or at
any stage of its corporate evolution but is focused on acquiring a
compelling asset with a skilled management team that is ready
to grow.
The Company’s management team is led by William J. Sandbrook,
its Chairman of the Board of Directors (the “Board”), William M.
Brown, its Chief Executive Officer, and Michael M. Andretti, a
Special Advisor and Director. Mario Andretti also serves as a
Special Advisor. In addition, the Board includes Zakary C. Brown,
James W. Keyes, Cassandra S. Lee, Gerald D. Putnam, and John J.
Romanelli.
BTIG, LLC is acting as sole book-running manager
for the offering.
The offering is being made only by means of a
prospectus. When available, copies of the prospectus may be
obtained from BTIG, LLC, Attention: 65 East 55th Street, New York,
New York 10022, or by email at ProspectusDelivery@btig.com.
A registration statement relating to the
securities has been filed with the U.S. Securities and Exchange
Commission (“SEC”) and became effective on September 5, 2024. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements,” including with respect to
the proposed initial public offering and search for an initial
business combination. No assurance can be given that the offering
discussed above will be completed on the terms described, or at
all, or that the net proceeds will be used as indicated.
Forward-looking statements are subject to
numerous conditions, many of which are beyond the control of the
Company, including those set forth in the “Risk Factors” section of
the Company’s registration statement and prospectus for the
Company’s initial public offering filed with the SEC. Copies of
these documents are available on the SEC’s website, www.sec.gov.
The Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as
required by law.
Investor Contacts
Andretti Acquisition Corp. IIWilliam M.
Brownmatt.brown@andrettiacquisition.com(317) 872-2700
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