Berto Acquisition Corp. II Raises $315.1M in IPO, Includes 4.11M Over-Allotment
Berto Acquisition Corp. II raised $315.1m in an upsized IPO by selling 31.51m units at $10, including a 4.11m-unit overallotment, and concurrently placed 3.5m private placement warrants at $1 each for $3.5m. Proceeds are held in trust as the SPAC seeks AI targets with warrants exercisable at $11.50.
1. IPO Details
Berto Acquisition Corp. II closed its upsized initial public offering with 31.51 million units sold at $10 per unit, generating gross proceeds of $315.1 million. The inclusion of a 4.11 million-unit overallotment option reflects strong investor demand.
2. Warrant and Private Placement
Each unit comprises one ordinary share and one-third of a warrant, with each whole warrant allowing purchase of one share at $11.50. Concurrently, the company sold 3.5 million private placement warrants at $1 each, raising an additional $3.5 million under identical terms.
3. Use of Proceeds and Acquisition Strategy
Net proceeds totaling $315.1 million were placed in a trust pending a business combination. The SPAC, led by Harry You, plans to target AI infrastructure, quantum computing and related growth industries leveraging its management team’s sector experience.