NEW YORK, Jan. 19, 2022 /PRNewswire/ -- Atlantic
Coastal Acquisition Corp. II ("ACAH II") today announced the
closing of its upsized initial public offering of 30,000,000 units
(including 3,900,000 units sold upon exercise of the underwriters'
over-allotment option) at $10.00 per
unit, resulting in gross proceeds of $300,000,000. The units are listed on the Nasdaq
Global Market and trade under the ticker symbol "ACABU".
Each unit consists of one share of Series A common stock of the
Company and one-half of one warrant. Each whole warrant entitles
the holder thereof to purchase one share of Series A common stock
of the Company at a price of $11.50
per share. Only whole warrants are exercisable. Once the securities
comprising the units begin separate trading, the shares of Series A
common stock and warrants are expected to be listed on the NASDAQ
Global Market under the symbols "ACAB" and "ACABW,"
respectively.
The Company is a newly incorporated blank check company formed
for the purpose of effecting a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses. The Company is
led by Shahraab Ahmad, Chief Executive Officer, Burt Jordan, President, Tony Eisenberg, Chief Strategy Officer, and
Jason Chryssicas, Chief Financial Officer.
Cantor Fitzgerald & Co. acted as the sole book running
manager for the offering and Academy Securities, Inc. and
Siebert Williams Shank & Co.,
LLC acted as co-managers of the offering.
The initial public offering was made only by means of a
prospectus. Copies of the prospectus relating to the offering may
be obtained from Cantor Fitzgerald & Co. at 499 Park Avenue,
New York, NY 10022, or by email at
prospectus@cantor.com.
A registration statement relating to the securities sold in the
initial public offering has been filed with, and declared effective
by, the Securities and Exchange Commission ("SEC") on January 13, 2022. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
anticipated use of the net proceeds of the offering.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of ACAH II, including those set
forth in the Risk Factors section of ACAH II's registration
statement filed with the SEC. Copies are available on the
SEC's website, www.sec.gov. ACAH II undertakes no
obligation to update these statements for revisions or changes
after the date of this release, except as required by
law.
Contact
Please send inquiries
to hello@atlanticcoastal.io
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SOURCE Atlantic Coastal Acquisition Corp. II