Atlantic Coastal Acquisition Corp. II
ACABU
NASDAQ Global Market8.05
USD
- -
- -
CIK
0001893219
ISIN
US04845A2078
CUSIP
04845A207
Return %
Stock
S&P500
1Y
-26.95
24.99
3Y
-19.50
70.19
5Y
-19.50
77.45
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Shahraab Ahmad
- Full Time Employees
- 4
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 6 St. Johns Lane New York City NY United States of America 10013
- IPO Date
- Jan 14, 2022
- CIK
- 0001893219
- Similar Companies
- Business
- Atlantic Coastal Acquisition Corp. II (NASDAQ: ACABU) operates as a blank check company, or special purpose acquisition company (SPAC), whose primary business focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses, particularly targeting the financial services industry and mobility sector; it offers no independent products or services beyond this acquisition vehicle structure comprising Series A common stock and warrants traded in units. Incorporated in 2021 and headquartered at 6 St Johns Lane, Floor 5, New York, New York, the company raised $300 million in gross proceeds from its upsized initial public offering in January 2022, with underwriting led by Cantor Fitzgerald & Co. and co-managers Academy Securities and Siebert Williams Shank & Co. Geographically, it maintains U.S.-centric operations as a subsidiary of Atlantic Coastal Acquisition Management II LLC. In its most significant recent development, Atlantic Coastal Acquisition Corp. II completed a reverse merger with Abpro Corporation, a biotechnology firm developing next-generation antibody therapies via its DiversImmune platform for conditions including HER2+ cancers and other severe diseases, on November 12, 2024, following shareholder approval on November 7, 2024, deal announcement in December 2023 valued initially at $725 million, multiple deadline extensions including to September 19, 2024, and amendments such as sponsor share issuances in lieu of unpaid expenses; the combined entity now trades under new tickers ABP and ABPWW on Nasdaq as of November 13, 2024, marking the SPAC's transition from standalone acquisition entity to supporting Abpro's clinical pipeline advancement.