Newbury Street II SPAC files S-1/A amendment

TL;DR

SPAC Newbury Street II filed an S-1/A update. Watch for acquisition news.

AI Summary

Newbury Street II Acquisition Corp filed an S-1/A amendment on September 19, 2024, for its registration statement (No. 333-281456). The company, incorporated in the Cayman Islands, is a blank check company with its principal executive offices located at 121 High Street, Boston, MA. Thomas Bushey is listed as the Chief Executive Officer.

Why It Matters

This filing indicates an update to the registration process for Newbury Street II Acquisition Corp, a special purpose acquisition company, which is a step towards a potential future business combination or acquisition.

Risk Assessment

Risk Level: medium — SPACs inherently carry risk due to their reliance on future acquisitions and market conditions, and this amendment signifies an ongoing process rather than a completed transaction.

Key Numbers

• 333-281456 — SEC File Number (Identifies the specific registration filing with the SEC.)
• September 19, 2024 — Filing Date (The date this amendment to the registration statement was filed.)

Key Players & Entities

• Newbury Street II Acquisition Corp (company) — Registrant
• 333-281456 (dollar_amount) — SEC File Number
• September 19, 2024 (date) — Filing Date
• Thomas Bushey (person) — Chief Executive Officer
• 6770 (dollar_amount) — Standard Industrial Classification Code

FAQ

Key Financial Figures

• $10.00 — ies. Each unit has an offering price of $10.00 and consists of one Class A ordi
• $0.0001 — lass A ordinary share, par value $0.0001 per share and one -half of one redeemab
• $11.50 — s A ordinary share at a price of $11.50 per share, subject to adjustment as pro
• $25,000 — purchased 5,750,000 founder shares for $25,000 (or approximately $0.004 per share) and
• $0.004 — er shares for $25,000 (or approximately $0.004 per share) and subsequently received an
• $10,000 — te of our sponsor in an amount equal to $10,000 per month for office space, utilities a
• $300,000 — n of this offering, we will repay up to $300,000 in loans made to us by our sponsor to c
• $1,500,000 — our initial business combination, up to $1,500,000 of such loans may be convertible into p
• $100,000 — shall be net of taxes payable and up to $100,000 of interest to pay dissolution expenses
• $5,950,000 — nt units at a price of $10.00 per unit ($5,950,000 in the aggregate) in a private placemen
• $4,525,000 — nits for an aggregate purchase price of $4,525,000, and BTIG will purchase 142,500 private
• $1,425,000 — nits for an aggregate purchase price of $1,425,000. Each private placement unit will consi
• $10.05 — essary to maintain in the trust account $10.05 per unit sold to the public in this off
• $4,045,000 — sponsor at a price of $10.00 per unit ($4,045,000 in the aggregate) in a private placemen
• $0.35 —     Includes up to $0.35 per unit, or up to $5,250,000 (or up to

Filing Documents

• ea0209761-02.htm (S-1/A) — 4093KB
• ea020976102ex4-4_newbury2.htm (EX-4.4) — 214KB
• ea020976102ex10-2_newbury2.htm (EX-10.2) — 49KB
• ea020976102ex10-3_newbury2.htm (EX-10.3) — 92KB
• ea020976102ex10-4_newbury2.htm (EX-10.4) — 106KB
• ea020976102ex10-6_newbury2.htm (EX-10.6) — 59KB
• ea020976102ex10-7_newbury2.htm (EX-10.7) — 69KB
• ea020976102ex23-1_newbury2.htm (EX-23.1) — 2KB
• 0001213900-24-080361.txt ( ) — 4684KB

Underwriting

Underwriting Discounts and Commissions (1)   Proceeds, Before Expenses, to Us Per Unit   $ 10.00   $ 0.55   $ 9.45 Total   $ 150,000,000   $ 8,250,000   $ 141,750,000 ____________ (1)        Includes up to $0.35 per unit, or up to $5,250,000 (or up to $6,037,500 if the underwriter’s overallotment option is exercised in full), payable to the underwriter for deferred underwriting discounts and commissions to be placed in a trust account located in the United States as described herein and released to BTIG, LLC (“BTIG”) only upon the completion of an initial business combination, as described in this prospectus. The underwriter has received and will receive compensation in addition to the underwriting discount, including 100,000 ordinary shares, which we refer to herein as the “representative founder shares.” See “ Underwriting ” for further information relating to the underwriting compensation and other items of value payable to the underwriter. Of the proceeds we receive from this offering and the sale of the private placement units described in this prospectus, $150,750,000, or $173,362,500 if the underwriter’s over -allotment option is exercised in full ($10.05 per unit), will be deposited into a U.S. -based trust account maintained with Continental Stock Transfer & Trust Company acting as trustee. Except with respect to interest earned on the funds held in the trust account that may be released to us to pay income taxes, if any, the funds held in the trust account will not be released from the trust account until the   Table of Contents earliest to occur of: (1) our completion of an initial business combination; (2) the redemption of any public shares properly submitted in connection with a shareholder vote to amend our memorandum and articles

View Full Filing

View this S-1/A filing on SEC EDGAR