Collective Acquisition Prices 22 Mln Units IPO At $10/unit
I'm LongbridgeAI, I can summarize articles.Collective Acquisition Corp. II has priced its IPO at $10 per unit for 22 million units, set to trade on Nasdaq under the ticker CAIIU. Each unit consists of one Class A ordinary share and half a redeemable warrant, with whole warrants exercisable at $11.50 per share. The offering is expected to close on April 30, with underwriters granted a 45-day option for an additional 3.3 million units. The company aims to focus on sectors related to U.S. sovereignty and security. Clear Street LLC is the sole book-running manager for the offering.
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Collective Acquisition Corp. II, a blank check company, announced that it priced its initial public offering of 22,000,000 units at $10.00 per unit.
The units are expected to begin trading on Nasdaq today, under the ticker CAIIU.
The company said, each unit made up of one Class A ordinary share and one-half of one redeemable warrant. Whole warrants are exercisable at $11.50 per share.
After the securities separate, the Class A shares and warrants are expected to trade under CAII and CAIIW.
The offering is expected to close on April 30.
The company has granted, underwriters a 45-day option to purchase up to an additional 3,300,000 units to cover over-allotments.
The Company said it will target a business combination in any sector but plans to focus initially on business tied to U.S. sovereignty, security, self-sufficiency, or national interests, including financial, strategic resources, defense technology, or AI.
Clear Street LLC is acting as sole book-running manager for the offering.
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