The IPO Buzz: Aldel Financial II (ALDFU) Raises $200 Million with SPAC IPO
Aldel Financial II (ALDFU) priced its SPAC IPO in sync with the terms in the prospectus – 20.0 million units at $10.00 each – to raise $200.0 million on Monday night, Oct. 21, 2024. Each unit consists of one ordinary share and one-half of one redeemable warrant. Shares of Aldel Financial II are expected to start trading today – Tuesday, Oct. 22, 2024 – on the NASDAQ.
At pricing, Aldel Financial II became the fourth SPAC to go public in October and the 37th SPAC IPO priced so far in 2024.
BTIG LLC acted as the sole book-runner.
Aldel Financial II is the second SPAC or blank check company created by Robert Kauffman, a co-founder and the former CEO of Fortress Investment Group.
Based in the Chicago suburb of Itasca, Illinois, Aldel Financial II intends to search for target companies involved in financial services, real estate and asset-based finance.
“We will seek to acquire one or more businesses with a market capitalization of between $1 billion and $5 billion,” Aldel Financial II said in the prospectus.
Hassan Baqar is the CFO of Aldel Financial. He is also the founder and managing member of Sequoia Financial, according to the prospectus.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com website.)
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Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.
Source: https://www.iposcoop.com/the-ipo-buzz-aldel-financial-ii-aldfu-raises-200-million-with-spac-ipo/
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