- Business
- FACT II Acquisition Corp. is a special purpose acquisition company that seeks to effect a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses; its sponsor is FACT II Acquisition Parent LLC, and the company is headquartered at 14 Wall Street, 20th Floor, New York, New York, United States, with a corporate website in New York under the Freedom Acquisition II brand. Founded in 2024, the company completed its initial public offering in November 2024, raising $175 million in gross proceeds, and its units, Class A ordinary shares and warrants trade on Nasdaq under the symbols FACTU, FACT and FACTW.
The company’s principal activity is to identify and complete an initial business combination, and it has not yet commenced operating business activities or generated operating revenue from products or services in the traditional sense. Its sponsor team includes Adam Gishen, Min Lee, Richard Nespola, Jr. and Joseph Wagman, and the group emphasizes experience across financial services, private equity, venture capital, private credit, real estate and complex operations businesses.
In recent strategic developments, FACT II entered into a definitive business combination agreement with Precision Aerospace & Defense Group, Inc. in November 2025, filed an amended Form S-4 in April 2026, and later terminated the transaction on July 16, 2026 after unforeseen circumstances affecting a key subsidiary acquisition altered the deal structure. Following that termination, the company said it would continue evaluating alternative business combination opportunities, while facing a November 27, 2026 deadline to complete a deal or liquidate absent an extension.