Good Works II Acquisition Corp.
GWIIW
NASDAQ Capital Market0.00
USD
-0.84
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Good Works II Acquisition Corp.
GWIIW
(NASDAQ Capital Market)
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Good Works II Acquisition Corp. (Nasdaq: GWIIW) operates as a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses; it holds cash in trust from its initial public offering for deployment into such a transaction. The company, founded in 2020 and headquartered at 4265 San Felipe, Suite 603, Houston, Texas, targets high-growth businesses, particularly those impacted by disruptions such as COVID-19 or requiring significant growth capital. Its securities include common stock (GWII), warrants (GWIIW), and units (GWIIU), with the warrants entitling holders to purchase common stock at $11.50 per share upon separation from units. In October 2022, Good Works II entered a definitive agreement valued at approximately $675 million to $723 million for a business combination with Direct Biologics, LLC, a late-stage biotechnology firm developing ExoFlo, a regenerative biologic product using extracellular vesicle technology for inflammation and tissue repair applications including acute respiratory distress syndrome (ARDS); the deal included a $100 million private placement and a $75 million minimum cash condition, with an expected close in the first half of 2023. However, in February 2023, the parties mutually terminated the agreement following high redemptions (89% of trust) after a deadline extension shareholder vote, leaving approximately $24.85 million in the trust account. Subsequently, on February 22, 2023, the company announced plans to redeem public shares and liquidate effective March 16, 2023, filing a Notice of Termination of Registration on Form 15-12G on March 28, 2023, due to failure to complete an initial business combination within the required timeframe. Post-liquidation, GWIIW warrants continue to trade on Nasdaq, reflecting residual market activity for the defunct SPAC structure, with no ongoing operations or new business combinations reported as of late 2025; the company maintains no employees and focuses solely on prior trust wind-down processes. Geographically, it operated principally from Houston without broader international segments or subsidiaries. Leadership includes Cary Grossman as a key executive contact.