Bluerock Acquisition Corp. II Completes $172.5 Million IPO and Private Placement
Bluerock Acquisition Corp. II (Nasdaq: BRRKU) has completed its initial public offering of 17,250,000 units at a price of $10 per unit, raising $172.5 million in total. The IPO included the full exercise of the underwriter's over-allotment option for an additional 2,250,000 units. Each unit consists of one Class A ordinary share and half a warrant exercisable at $11.50 per share. In addition to the public offering, the company closed on a private placement of 5,812,500 warrants for gross proceeds of $5.8 million. The sponsor, Bluerock Acquisition Holdings II, LLC, and BTIG, LLC each purchased portions of these warrants. Total funds placed in trust amounted to approximately $173.4 million. The company is a blank check firm formed with the intent to pursue a business combination across any industry or sector. Harrison Seideman, President and COO, emphasized that this second SPAC vehicle aims to provide value for companies seeking public market access.
Topics: Bluerock Acquisition Corp. II initial public offering SPAC