Andretti Acquisition II, the second blank check company affiliated with racing driver Michael Andretti, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The Indianapolis, IN-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Andretti Acquisition II would command a market value of $257 million.
The company is led by Executive Chairman William Sandbrook, who most recently served as the CEO and Chairman of US Concrete, and CEO William Brown, the former CFO of Rocky Mountain Industrials. The management team also includes Michael Andretti, a world-renowned racecar driver, and his father and fellow racing legend Mario Andretti, who will serve as Special Advisors.
While it has not selected a target industry or geography, the SPAC plans to focus on businesses with a lasting competitive advantage, brand recognition, and a seasoned management team, among other characteristics.
Management's previous SPAC, Andretti Acquisition, completed its combination with industrial AI developer Zapata AI (ZPTA; -94% from $10 offer price) this past March.
Andretti Acquisition II was founded in 2024 and plans to list on the Nasdaq under the symbol POLEU. BTIG is the sole bookrunner on the deal.
