The IPO Buzz: SPACs Andretti Acquisition II & Vine Hill Capital Investment Corp. Raise $200 Million Each

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Get your  motors running: Andretti Acquisition Corp. II (POLEU) and Vine Hill Capital Investment Corp. (VCICU) raised $200 million each on Thursday night, Sept. 5, 2024, to become the first two SPAC IPOs priced in September 2024. Andretti Acquisition II and Vine Hill Capital Investment are expected to start trading today – Friday, Sept. 6, 2024, on the NASDAQ. Here are the pricing details:

  • Andretti Acquisition Corp. II (POLEU) – Legendary racecar driver Mario Andretti is an advisor to this SPAC, and his son, Michael Andretti, a renowned racecar driver (retired), is affiliated with this blank check company as well. Andretti Acquisition II priced 20 million units at $10.00 each to raise $200.0 million on Thursday night, Sept. 5, 2024. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant.

  • BTIG served as the sole book-runner of Andretti Acquisition II’s SPAC IPO.

  • Vine Hill Capital Investment Corp. (VCICU) – SPAC veterans Nicholas Petruska and Daniel Zlotnitsky are leading Vine Hill Capital Investment Corp. as the CEO and the CFO, respectively. Vine Hill Capital Investment Corp. priced 20 million units at $10.00 each to raise $200.0 million on Thursday night, Sept. 5, 2024. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant.

  • Stifel served as the sole book-runner of Vine Hill Capital Investment Corp.’s SPAC IPO.

Both SPACs are incorporated in the Cayman Islands.

Shares of Andretti Acquisition Corp. II (POLEU) dipped to open at $9.98 – 2 cents below their $10.00 IPO price – when they started trading at 10:47 a.m. EDT today – Friday, Sept. 6, 2024 – on the NASDAQ on volume of 580,100 shares.

Vine Hill Capital Investment Corp. (VCICU) shares slipped to open at $9.96 – 4 cents below their $10.00 IPO price – when they started trading at 10:19 a.m. EDT today – Friday, Sept. 6, 2024 – on the NASDAQ on volume of 1,990,250 shares.

Andretti Acquisition Corp. II, based in Indianapolis, has not selected a target sector, the prospectus said.

Vine Hill Capital Investment Corp., based in Fort Lauderdale, Florida, “will seek to acquire one or more businesses with an aggregate enterprise value of approximately $500 million to $1 billion (and may be greater than $1 billion), and we will not be prohibited from pursuing businesses with an aggregate enterprise value of less than $500 million,” the prospectus said.

“Our strategy will be to identify, acquire and, after our initial business combination, build an industrial or services business,” the Vine Hill Capital Investment prospectus said.

(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.)

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Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.