- Twelve Seas Investment Company II (TWLVU) has priced upsized initial public offering of 30M (from 25M) units at $10/unit.
- Units kicks-off trading today on Nasdaq.
- Underwriters' over-allotment is an additional 4.5M units.
- Each unit consists of one share of Class A common stock and one-third of one redeemable warrant at $11.50/share.
- SPAC intends to focus its search on companies located outside the United States, primarily in the Pan-Eurasian region, including Western Europe, Eastern Europe and the Middle East with enterprise values between $500M-$2B.
- The Company is led by Chairman, Neil Richards, Chief Executive Officer, Dimitri Elkin and Chief Financial Officer, Jonathan Morris.
- Management's first SPAC, Twelve Seas Investment, went public in June 2018 and completed its combination with oil storage and services company Brooge Holdings (NASDAQ:BROG) in December 2019.