Cohen Circle Acquisition Corp. II completes $253 million IPO on Nasdaq

Cohen Circle Acquisition Corp. II (NASDAQ:CCII) completed its initial public offering on Wednesday, raising $253 million through the sale of 25,300,000 units at $10.00 per unit. The offering included the full exercise of the underwriters’ option to purchase an additional 3,300,000 units to cover over-allotments, according to a statement released in a Securities and Exchange Commission filing.

Each unit consists of one Class A ordinary share and one-fourth of a redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share at an exercise price of $11.50 per share, subject to adjustment as outlined in the company’s registration statement.

The company also completed a private placement on July 2, issuing 720,000 units at $10.00 per unit for gross proceeds of $7.2 million. The placement units were purchased by Clear Street LLC, the sole book-running manager for the IPO, and Cohen Circle Sponsor II, LLC, one of the company’s sponsors.

A total of $253 million of the net proceeds from the IPO and the private placement, which includes $10.78 million of the underwriters’ deferred discount, was placed in a trust account for the benefit of public shareholders. Continental Stock Transfer & Trust Company is acting as trustee for these funds.

An audited balance sheet as of July 2 reflecting the proceeds from the IPO and private placement was included as an exhibit to the company’s SEC filing.

Cohen Circle Acquisition Corp. II is a blank check company incorporated in the Cayman Islands and listed on the Nasdaq Stock Market under the symbols CCIIU (units), CCII (Class A ordinary shares), and CCIIW (warrants). The information in this article is based on a press release statement included in the company’s SEC filing.

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