Atlantic Coastal Acquisition Corp. II
ACABW
NASDAQ Global Select0.05
USD
- -
- -
CIK
0001893219
ISIN
US04845A1161
CUSIP
04845A116
Return %
Stock
S&P500
1Y
20.73
24.99
3Y
-77.00
70.19
5Y
-77.00
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
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 6 St. Johns Lane New York City NY United States of America 10013
- IPO Date
- Mar 7, 2022
- CIK
- 0001893219
- Similar Companies
- Business
- Atlantic Coastal Acquisition Corp. II Atlantic Coastal Acquisition Corp. II is a blank check company, or special purpose acquisition company (SPAC), with no significant operations other than seeking to effect a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses, primarily targeting the financial services industry and mobility sector. The company offers no current products or services beyond its SPAC structure, which facilitates public listings for target entities through reverse mergers or de-SPAC transactions; its units, comprising one share of Series A common stock and one-half warrant, were initially offered in a $300 million IPO. Incorporated in 2021 and headquartered at 6 St. Johns Lane, Floor 5, New York, New York, it operates principally in the United States with a lean team of four employees led by CEO and Chairman Shahraab Ahmad, President Burt Jordan, CFO Jason Chryssicas, and Chief Strategy Officer Anthony Eisenberg; it functions as a subsidiary of Atlantic Coastal Acquisition Management II LLC. In recent developments, Atlantic Coastal Acquisition Corp. II completed a reverse merger with Abpro Corporation on November 13, 2024, through which Abpro acquired the SPAC, resulting in the combined entity trading under new tickers and marking the cessation of ACAB's independent SPAC operations. Prior to closing, the company amended its business combination agreement with Abpro multiple times, including on September 4, 2024, to issue 600,601 shares of Series A common stock to its sponsor in lieu of $2 million in unpaid expenses and extend the business combination deadline to September 19, 2024; it also filed a Form S-4 registration statement with the SEC, incorporating a proxy statement for stockholders. Earlier efforts included a terminated merger with 3D printing firm Essentium in 2022, multiple extensions of its initial business combination deadline through 2024, and a strategic partnership with Celltrion Inc. alongside Abpro that could yield up to $1.75 billion in milestone payments for drug development programs targeting COVID-19, cancer, and diabetic blindness.