Atlantic Coastal Acquisition Corp. II
ACAB
NASDAQ Global Market5.77
USD
- -
- -
CIK
0001893219
ISIN
US04845A1088
CUSIP
04845A108
Return %
Stock
S&P500
1Y
-45.82
26.84
3Y
-41.72
77.03
5Y
-41.72
80.55
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
- Mar 9, 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), focused on effecting a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses, originally targeting opportunities in the financial services industry and mobility sector. 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 initial public offering on January 14, 2022, underwritten by Cantor Fitzgerald as the sole book-running manager, with Academy Securities and Siebert Williams Shank as co-managers; each unit comprised one share of Series A common stock and one-half of one redeemable warrant. The company, led by CEO Shahraab Ahmad, President Burt Jordan, Chief Strategy Officer Tony Eisenberg and Chief Financial Officer Jason Chryssicas, operates with a lean team of four employees and maintains no significant current operations or revenue-generating activities beyond seeking and executing its initial business combination. In December 2023, Atlantic Coastal Acquisition Corp. II announced a definitive business combination agreement with Abpro Corporation, a clinical-stage biotechnology company developing novel antibody therapies for diseases including cancer, COVID-19 and diabetic blindness, initially valued at approximately $725 million with an expected close in the second quarter of 2024; the deal was later amended multiple times, including on September 4, 2024, to adjust sponsor compensation and share issuances, alongside extensions of the business combination deadline through votes on September 19, 2024, and November 7, 2024. Shareholder approval occurred on November 7, 2024, culminating in the merger's closing on November 12, 2024, through which Abpro Corporation acquired Atlantic Coastal Acquisition Corp. II in a transaction valued at around $496.3 million, resulting in the combined entity trading under the ticker ABP (formerly ACAB) on Nasdaq as Abpro Corporation. Concurrently, Abpro finalized strategic partnerships with Celltrion, Inc. and Abpro Bio International Inc., involving up to $1.75 billion in potential milestone payments and share purchases totaling over 1.1 million shares of Series A common stock to support advancement of candidates like ABP-102.
STOCKHOLDER INVESTIGATION: The M&A Class Action Firm Investigates the Merger of Atlantic Coastal Acquisition Corp. II - ACAB
Atlantic Coastal Acquisition Corp. II Receives Notification of Deficiency from Nasdaq Related to Delayed Quarterly Report on Form 10-Q
Atlantic Coastal Acquisition Corp. II Announces Extension of Business Combination Period and Additional Contribution to Trust Account
Abpro to Become Publicly Traded via Merger with Atlantic Coastal Acquisition Corp. II
Atlantic Coastal Acquisition Corp. II Is 2nd SPAC Aimed At Mobility