Jena Acquisition Corp. II (JENA.U), a SPAC led by William Foley, II, a FinTech entrepreneur and SPAC veteran, raised $200 million – as expected – with the pricing of its IPO on Wednesday night, May 28, 2025. Jena Acquisition II priced 20.0 million units at $10.00 each – the terms in the prospectus.
In its New York Stock Exchange debut today – Thursday, May 29, 2025 – Jena Acquisition II opened at $10.10 – up a dime from its SPAC IPO price – and hit an intraday high at $10.12. The SPAC had bounced off an intraday low at $10.09. At about 11:40 a.m. EDT today, Jena Acquisition II was trading at $10.10 – up 1 percent from its SPAC IPO price – on volume of about 3.18 million.
Jena Acquisition Corp. II, based in New York and incorporated in the Cayman Islands, has not identified a target sector or geographic region, according to the prospectus. Instead, Jena Acquisition II will search for a target business that will benefit from the expertise of its management team – co-founder and Chairman William Foley, II and co-founder and CEO Richard Massey. Both have decades of experience in banking and finance as well as FinTech and tech, along with extensive experience in founding and running SPACs – also known as special-purpose acquisition companies or blank check companies.
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