FACT II Acquisition, the second blank check company led by former Credit Suisse executives, raised $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
FACT II Acquisition is led by Executive Chairman Robert Rackind, who previously served as the Global Head of Real Estate at Credit Suisse Asset Management, and CEO Adam Gishen, who previously served as the Global Head of Investor Relations, Corporate Communications, and Marketing and Branding at Credit Suisse. The SPAC plans to target businesses with a management team who has demonstrated clear operating expertise over the past two years, with a focus on growing revenues, while operating with demonstrated control over operating costs and preservation of cash.
Gishen previously served as CEO of SPAC Freedom Acquisition I, which completed its combination with solar company Complete Solaria (CSLR; -82% from $10 offer price) in July 2023.
FACT II Acquisition plans to list on the Nasdaq under the symbol FACTU. Cohen & Company Securities and Seaport Global acted as joint bookrunners on the deal.
