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Galata Acquisition Corp. II (NASDAQ:LATAU) has successfully completed its initial public offering (IPO), raising $172.5 million in gross proceeds. The company offered 17.25 million units at $10.00 per unit, including 2.25 million units from the fully exercised over-allotment option.
Each unit comprises one Class A ordinary share and one-third of one redeemable warrant, with whole warrants exercisable at $11.50 per share. The securities will eventually trade separately under the symbols LATA (shares) and LATAW (warrants). The entire IPO proceeds of $172.5 million have been placed in trust.
The blank check company aims to pursue business combinations in the energy, fintech, real estate, and technology sectors, led by Daniel Freifeld as CIO and Chairman, alongside CEO Craig Perry.
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