EQV Ventures Acquisition Corp. II Announces Closing of Upsized $460 Million Initial Public Offering and Partial Exercise of Over-Allotment Option

Rhea-AI Summary

EQV Ventures Acquisition Corp. II (NYSE:EVACU) has successfully completed its upsized initial public offering, raising $460 million in gross proceeds. The company sold 42 million units at $10.00 per unit, increased from the initial 35 million units, plus an additional 4 million units through the partial exercise of the over-allotment option.

Each unit comprises one Class A ordinary share and one-third of one redeemable warrant. Whole warrants allow holders to purchase one Class A ordinary share at $11.50 per share. The securities began trading on the NYSE on July 2, 2025, with the Class A shares and warrants expected to trade separately under symbols EVAC and EVACW. BTIG, LLC served as the sole book-running manager for this SPAC offering.

Positive

• Successfully raised $460 million in gross proceeds through upsized IPO
• Increased offering size from 35 million to 42 million units, showing strong investor demand
• Additional 4 million units sold through over-allotment option exercise
• Secured NYSE listing for enhanced visibility and liquidity

Negative

• No specific acquisition target identified yet
• SPAC structure carries inherent risks of not finding suitable merger target within required timeframe
• Warrant dilution potential when exercised at $11.50 per share

Insights

SPAC and IPO Specialist

EQV Ventures SPAC raises $460M in upsized IPO, indicating strong investor interest despite uncertain acquisition target.

EQV Ventures Acquisition Corp. II has successfully completed an upsized IPO raising $460 million, significantly exceeding their initial target of $350 million. The 31% increase in capital raised—from selling 42 million units at $10 each plus an additional 4 million through the over-allotment option—signals substantial investor confidence in this blank-check company.

The SPAC structure follows industry standards with each unit comprising one Class A ordinary share and one-third of a warrant exercisable at $11.50. This warrant ratio is somewhat conservative compared to some SPACs that offer half or full warrants per unit, potentially indicating sponsor-favorable terms.

What's particularly notable is the successful upsizing in today's market. The 20% increase in the base offering (from 35 to 42 million units) plus the partial exercise of the over-allotment option demonstrates significant market appetite for this vehicle despite no identified acquisition target yet.

The $460 million war chest positions EQV to target mid-to-large sized private companies across undisclosed sectors. BTIG's role as sole book-runner suggests a focused distribution strategy rather than a broader syndicate approach typically seen with larger offerings.

For investors, this remains a pure-play on the SPAC structure and the yet-unknown acquisition target. While the successful capital raise provides EQV with substantial purchasing power, the ultimate value proposition depends entirely on management's ability to identify and close a value-creating business combination within the standard 18-24 month window typically allowed for SPACs.

PARK CITY, UTAH, July 03, 2025 (GLOBE NEWSWIRE) -- EQV Ventures Acquisition Corp. II (the “Company”), a special purpose acquisition company sponsored by an affiliate of the EQV Group, and formed for the purpose of entering into a business combination with one or more businesses, announced today the closing of its initial public offering of 42,000,000 units, upsized from 35,000,000 units, at a price of $10.00 per unit and the sale of an additional 4,000,000 units at $10.00 per unit pursuant to the underwriter’s partial exercise of its over-allotment option. Total gross proceeds from the offering were $460 million before deducting underwriting discounts and commissions and other offering expenses payable by the Company.

The Company’s units began trading on the New York Stock Exchange (“NYSE”) under the ticker symbol “EVACU” on July 2, 2025.

Each unit consists of one Class A ordinary share and one-third of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to certain adjustments. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on NYSE under the ticker symbols “EVAC” and “EVACW,” respectively.

BTIG, LLC acted as sole book-running manager for the offering.

The offering was made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained from: BTIG, LLC, 65 East 55th Street New York, New York 10022, Attn: Syndicate Department, or by email at ProspectusDelivery@btig.com.

Registration statements relating to these securities have been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on July 1, 2025. 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds and the search for an initial business combination. No assurance can be given that the net proceeds of the offering will be used as indicated or that a search for an initial business combination will be successful.

Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Investor Contacts

IR@eqvventures.com

FAQ

How much money did EQV Ventures Acquisition Corp. II (EVACU) raise in its IPO?

EQV Ventures Acquisition Corp. II raised $460 million in gross proceeds through its IPO, selling 46 million units total at $10.00 per unit.

What is included in each EVACU unit from the IPO?

Each unit consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant allows purchase of one Class A ordinary share at $11.50 per share.

When did EVACU start trading on the NYSE?

EVACU units began trading on the New York Stock Exchange (NYSE) on July 2, 2025.

What are the trading symbols for EVACU's securities?

The units trade under EVACU, while the Class A shares and warrants will trade separately under EVAC and EVACW respectively.

Who was the underwriter for the EVACU IPO?

BTIG, LLC acted as the sole book-running manager for the offering.