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Gesher Acquisition Corp. II, a special purpose acquisition company, announced the successful completion of its initial public offering (IPO) on Monday. The company raised $143.75 million through the sale of 14,375,000 units, including an over-allotment option fully exercised by the underwriters. According to InvestingPro data, the company now maintains a market capitalization of approximately $180 million.
Each unit, priced at $10, comprises one Class A ordinary share and half of one redeemable warrant. The units began trading on The Nasdaq Stock Market LLC under the ticker symbols GSHRU for the units, GSHR for the Class A ordinary shares, and GSHRW for the warrants. The stock currently trades at $10.03, near its 52-week high of $10.05, with notably low price volatility according to InvestingPro analysis.
Concurrently with the IPO, Gesher Acquisition Corp. II also sold 565,625 private placement units to its sponsor and BTIG, LLC, generating additional proceeds. These private placement units, sold at the same price as the IPO units, are identical except for certain terms disclosed in the company’s registration statement. No underwriting discounts or commissions were associated with the private sale.
The net proceeds from the IPO and a portion of the proceeds from the private sale, totaling approximately $144.18 million, were placed into a trust account. Continental Stock Transfer & Trust Company is maintaining this account.
The company’s audited balance sheet as of March 24, 2025, reflects the receipt of the proceeds and is included as part of the company’s recent SEC filing. This move is a common step for special purpose acquisition companies, which are formed to raise capital through an IPO with the purpose of acquiring an existing company. InvestingPro data shows the company is not yet profitable, with additional financial metrics and analysis available to subscribers.
The information reported here is based on a press release statement and the company’s filings with the SEC. Gesher Acquisition Corp. II is classified under the "Blank Checks" industry and is incorporated in the Cayman Islands with principal executive offices in Denver, Colorado.
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