Dune Acquisition II, a blank check company targeting SaaS and AI, filed on Friday with the SEC to raise up to $150 million in an initial public offering.
The West Palm Beach, FL-based company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and three-quarters of a warrant, exercisable at $11.50.
Dune Acquisition II is led by CEO and Chairman Carter Glatt, who previously served as Head of Corporate Development and SVP of SaaS firm GTY. The SPAC plans to target the SaaS, AI, semiconductor, MedTech, and business services-oriented asset management and consultancy industries.
Management's previous SPAC, Dune Acquisition, completed its combination with Global Gas (OTC: HGAS; -97% from $10 offer price) in December 2023.
Dune Acquisition II was founded in 2024 and plans to list on the Nasdaq under the symbol IPODU. The SPAC filed confidentially on October 23, 2024. Clear Street is the sole bookrunner on the deal.
