SPAC Willow Lane Acquisition II prices $125 million IPO, targeting consumer goods, gaming, and leisure
I'm LongbridgeAI, I can summarize articles.Willow Lane Acquisition II has priced its IPO at $125 million, offering 12.5 million units at $10 each, targeting sectors such as consumer goods, gaming, and leisure. Led by CEO Luke Weil, the SPAC has not yet identified a target company. It plans to list on Nasdaq under the symbol WLIIU, with BTIG as the sole bookrunner. Weil has a history of leading successful SPACs, including Willow Lane Acquisition I, which is merging with Boost Run.
Willow Lane Acquisition II, the second blank check company led by Luke Weil targeting consumer goods, gaming, and leisure, raised $125 million by offering 12.5 million units at $10. Each unit consists of one share of common stock and one-fourth of one warrant, exercisable at $11.50.
The company is led by CEO and Chairman Luke Weil, who has led a number of SPACs previously, most recently as CEO and Chairman of Willow Lane Acquisition I (WLAC; +10% from $10 offer price), which announced its plan to merge with cloud computing services provider Boost Run in September, and Chairman of Andina Acquisition III, which completed a business combination with Stryve Foods (OTC: SNAX) in 2021. Weil also served as Chairman of Andina Acquisition II, which completed a business combination with Lazydays Holdings in 2018, and delisted from the Nasdaq this past November.
The SPAC has not yet chosen a target, but plans to focus its search on companies in the consumer goods, gaming and leisure, and industrial manufacturing sectors.
Willow Lane Acquisition II plans to list on the Nasdaq under the symbol WLIIU. BTIG acted as sole bookrunner on the deal.