Schultze Special Purpose Acquisition II, the second blank check company formed by distressed debt investor George Schultze, raised $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable $11.50. Certain anchor investors had indicated on $149 million worth of units in the offering (99% of the deal).
The company is led by CEO and Chairman George Schultze, the founder of Schultze Asset Management, an alternative investment manager focused on distressed securities and special situations. He is joined by CFO Jeffrey Glick, the CFO of Schultze Asset Management, and EVP and Director Gary Julien, the Managing Director of Acquisitions at Schultze Asset Management. Schultze Special Purpose Acquisition II intends to initially focus on companies that may be experiencing liquidity constraints, are financially stressed, or have experienced and emerged from a financial restructuring.
Schultze Special Purpose Acquisition II plans to list on the Nasdaq under the symbol SAMAU. Stifel, and Mizuho Securities acted as joint bookrunners on the deal.
