Dune Acquisition Corp. II (IPODU), a blank check company or special-purpose acquisition company (SPAC) focused on the Software as a Service (SaaS) and AI (artificial intelligence) sectors, raised $125 million with the pricing of its SPAC IPO on Tuesday night, May 6, 2025. Dune Acquisition II sold 12.5 million units at $10.00 each, in sync with the terms in the prospectus. Each unit consists of one Class A ordinary share and three-quarters of one redeemable warrant. Dune Acquisition II cut its SPAC IPO’s size to 12.5 million units – down from 15.0 million units originally – and kept the SPAC IPO price at $10.00 – to raise $125.0 million, according to an S-1/A filing last week – on Tuesday, April 29, 2025.
On Wednesday, May 7, 2025, Dune Acquisition II opened at $10.01 – up just a penny – at 10:45 a.m. EDT on the NASDAQ on volume of 625,600 shares, according to NASDAQ.
Clear Street served as the sole book-runner.
“We may pursue an initial business combination in any business or industry but expect to target opportunities and companies that are in the software as a service (SaaS), artificial intelligence (AI), medtech or asset management and consultancy sectors,” the prospectus said.
Dune Acquisition II is based in West Palm Beach, Florida, and incorporated in the Cayman Islands.
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