Black Spade Acquisition II, a Hong Kong-based SPAC, has filed for a $150 million initial public offering (IPO) in the United States. The company plans to offer 15 million units at $10 each, with each unit comprising one Class A ordinary share and one-third of one redeemable warrant. While the SPAC is open to business combinations across various industries, it is particularly interested in sectors such as entertainment, lifestyle, and technology that benefit from AI, including AI biotechnology and infrastructure services. The SPAC’s sponsor, Black Spade Sponsor LLC II, is committing to purchasing up to 11 million warrants in a private placement. Black Spade Acquisition II aims to list on the Nasdaq under the ticker BSIIU. The leadership team includes Dennis Tam, CEO of Black Spade Capital, Kester Ng, CEO of GRE Investment Advisors, and Richard Taylor, who was previously a managing director at GRE. This follows the earlier success of Black Spade’s merger with Vietnamese automaker VinFast, which was valued at $27 billion in enterprise value. Despite a general decline in SPAC IPOs, with 2023 seeing significant retreats, over 140 active SPACs are currently seeking merger partners.

Finance, Technology, Entertainment, Biotechnology,United States, Hong Kong, Greater China

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