Black Spade Acquisition II Co., a special purpose acquisition company (SPAC) aiming to find a merger target in the entertainment, lifestyle, or technology sectors, made a splash on the Nasdaq on Wednesday, following a successful $150 million initial public offering (IPO).
IPO Details and Trading Kickoff
The SPAC’s IPO was finalized on Tuesday, with Black Spade offering 15 million units at $10 each. The shares commenced trading on Nasdaq under the ticker symbol BSIIU. The offering is slated to close on Thursday.
The units in the IPO comprise one Class A ordinary share and one-third of a redeemable warrant. Each full warrant can be exercised to purchase one Class A ordinary share at a price of $11.50.
Black Spade Prices $150M IPO : Legal Advisory Teams
Latham & Watkins LLP represented Black Spade Acquisition II Co., while Loeb & Loeb LLP served as legal counsel for the underwriters. The Latham team included Sharon Lau and Stacey Wong, and the Loeb & Loeb team comprised Mitchell S. Nussbaum and David J. Levine.
Strategic Focus and Leadership
Black Spade Acquisition II has set its sights on merging with companies in the entertainment, lifestyle, and technology sectors, particularly those benefiting from advancements in artificial intelligence. The firm plans to utilize its management team’s extensive networks and expertise to enhance value through strategic acquisitions, capital optimization, and operational improvements.
