Aldel Financial II (ALDFU) Plans to Raise $200 Million in October 22nd IPO

Aldel Financial II (ALDFU) expects to raise $200 million in an initial public offering on Tuesday, October 22nd, IPO Scoop reports. The company will be issuing 20,000,000 shares at $10.00 per share.

The company has a market cap of $260 million.

BTIG acted as the underwriter for the IPO.

Aldel Financial II provided the following description of their company for its IPO: “We are a newly organized blank check company that intends to search for target companies involved in financial services, real estate and asset-based finance. (Incorporated in the Cayman Islands)  We will seek to acquire one or more businesses with a market capitalization of between $1 billion and $5 billion. Robert Kauffman, our founder, CEO and chairman, is a co-founder of Fortress Investment Group. Aldel Financial II is Mr. Kauffman’s second blank company. Hassan Baqar, our CFO, is the founder and managing member of Sequoia Financial.  (Note: Aldel Financial II filed its S-1 on Sept. 30, 2024, and disclosed the terms for its SPAC IPO: 20.0 million units at $10.00 each to raise $200.0 million. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Background: Aldel Financial II submitted confidential SPAC IPO documents to the SEC on Aug. 5, 2024.) “.

Aldel Financial II was founded in 2024 and has 0 employees. The company is located at 104 S. Walnut Street, Unit 1A Itasca, IL 60143 and can be reached via phone at (847) 773-1665.