Inflection Point Acquisition II closed its upsized initial public offering of 25 million units which includes 3 million units issued through the exercise of the underwriters' overallotment option.
Each unit consists of one share and one-half of a warrant.
Units list on the Nasdaq under the ticker symbol IPXXU. Once the securities begin separate trading, shares and warrants are expected to lis under the symbols IPXX and IPXXW.
The SPAC intends to pursue a business combination with a North American or European business in disruptive growth sectors. Chairman and CEO Michael Blitzer is the founder and co-CEO of Kingstown Capital Management, which he founded in 2006 and grew into a multi-billion-dollar asset manager. Read more.