Silver Spike Acquisition Corp II
SPKBU
NASDAQ Capital Market10.20
USD
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Silver Spike Acquisition Corp II
SPKBU
(NASDAQ Capital Market)
Recent
price
10.20
P/E
ratio
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div
yld
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ROIC.AI
Capital Structure
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in mil. unless spec.Growth Rates
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in mil. unless spec.- Similar Companies
- Business
- Silver Spike Acquisition Corp II (SPKBU) is a blank check company sponsored by Silver Spike Capital that seeks to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, with a focus on the cannabis industry and compliant operations in health, wellness, and psychedelics sectors. Incorporated as an exempted company in the Cayman Islands in 2020 and headquartered at 660 Madison Avenue, Suite 1600, New York, New York, the company currently conducts no significant operations and generates no revenues, relying instead on its initial public offering proceeds raised in March 2021 of $250 million through 25 million units priced at $10 each, with underwriters led by Credit Suisse and Stifel. Its sponsor, Silver Spike Sponsor II LLC, holds founder shares, and the management team includes cannabis industry veterans such as CEO Scott Gordon. The company's core activities center on identifying and pursuing strategic targets rather than offering products or services directly; it provides investors public market exposure to potential high-growth opportunities in regulated cannabis and related sectors through its SPAC structure, including units (SPKBU), Class A ordinary shares (SPKB), and warrants (SPKBW) traded on Nasdaq. Geographically, it targets businesses operating in jurisdictions compliant with applicable laws, primarily in the United States and potentially internationally via New York-based operations. In recent developments, Silver Spike Acquisition Corp II mutually terminated its planned $446 million business combination with Eleusis, a psychedelics-focused clinical-stage company, in June 2022 due to unfavorable market conditions, with no further merger announcements since that time; the company continues to seek a suitable target for an initial business combination. As of late 2025, it remains a pre-merger SPAC with no completed acquisitions, funding rounds, or operational shifts reported beyond the ongoing search for a transaction. Prior efforts reflect strategic emphasis on emerging wellness markets, aligning with sponsor Silver Spike Capital's expertise.
Silver Spike Acquisition Corp II Announces Pricing of $250 Million Initial Public Offering