Newbury Street Acquisition II, the second blank check company led by the former COO of Turner Sports, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The Boston, MA-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, Newbury Street Acquisition II would command a market value of $260 million.
The company is led by Chairman Matthew Hong, the former COO of Turner Sports, and CEO and Director Thomas Bushey, the founder and CEO of Sunderland Capital. The company plans to target a business that provides diverse drivers of revenue and earnings growth, among other characteristics.
The Boston, MA-based company was founded in 2024 and plans to list on the Nasdaq under the symbol NTWOU. BTIG is the sole bookrunner on the deal.
