The IPO Buzz: SPAC IPOs Bleichroeder I & Newbury Street II Raise $400 Million Combined

Two SPAC IPOs- Bleichroeder Acquisition Corp. I and Newbury Street Acquisition II Corp. – raised $400 million combined at pricing on Halloween night, Thursday, Oct. 31, 2024:

• –Bleichroeder Acquisition Corp. I (BACQU) priced 25.0 million units at $10.00 each to raise $250.0 million. Cohen & Company Capital Markets and Seaport Global were the joint book-runners. Please note: Each unit consists of one Class A ordinary share and one right to receive one-tenth (1/10) of a Class A ordinary share upon the consummation of an initial business combination. (The unit’s composition was changed in an S-1/A filing on Oct. 7, 2024. The original terms were each unit consisted of one share of stock and one-quarter of one redeemable warrant.) Bleichroeder I is a tech, media and telecom (TMT)  SPAC co-founded by Michel Combes, the former CEO of SoftBank International, and Andrew Gundlach, the president and co-CEO of Bleichroeder LP, a registered investment advisor focused on ultra-high-net-worth families. (Incorporated in the Cayman Islands)
• –Newbury Street Acquisition Corp. II (NTWOU) priced 15.0 million units at $10.00 each to raise $150.0 million. BTIG was the sole book-runner. Each unit consists of one share of common stock and one-half of a warrant. Thomas Bushey, the SPAC’s CEO, is the founder and CEO of Sunderland Capital Partners L.P., an investment management firm with a focus on emerging technologies and the consumer Internet. Matthew Hong, the SPAC’s nominee for chairman, is the former COO of Turner Sports. He is the president and COO of 2080 Media Inc., a company engaged in streaming live and on-demand high school sports. (Incorporated in the Cayman Islands)

Both SPAC IPOs are expected to start trading today – Friday, Nov.1, 2024 – on the NASDAQ. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com  website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. 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. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.