Andretti Acquisition Corp.
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ROIC.AI
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- Andretti Acquisition Corp. II (NYSE: POLE) operates as a blank check company, or special purpose acquisition company (SPAC), whose primary purpose is to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities; it focuses on compelling assets with skilled management teams ready to grow, across any industry or geography, though prior affiliations suggest interest in automotive, advanced mobility, high-performance technologies, or motorsports-related opportunities. The company offers no current products or services beyond its SPAC structure, which facilitates public market access for private targets through its trust account funded by IPO proceeds; units comprise one Class A ordinary share and one-half of a redeemable warrant exercisable at $11.50. Incorporated in 2024 as a Cayman Islands exempted company and headquartered in Alpharetta, Georgia, with operational ties to Indianapolis, Indiana, it is a subsidiary of Andretti Sponsor II LLC and led by Executive Chairman William J. Sandbrook, CEO William M. Brown, and directors including Michael M. Andretti and Zak Brown, with special advisors Mario Andretti and others from motorsports and industry. In September 2024, the company completed a $230 million initial public offering on Nasdaq, upsized from $200 million via full exercise of the overallotment option by BTIG as sole bookrunner, placing proceeds into trust for a future combination; as of mid-2025, it reports no target identified, quarterly earnings reflecting operational costs, and recent unsecured working capital notes issued to sponsors amid ongoing search activities.
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