Southport Acquisition Corp. II Announces Completion of Its Initial Public Offering

The trust account holds $212,100,000 from the IPO and simultaneous private placement for the benefit of public shareholders.

Rhea-AI Summary

Southport Acquisition Corp. II (NYSE: PORT.U) completed its initial public offering of 21,000,000 units, including units from a partially exercised over-allotment option. The price was $10.00 per unit, and 1,000,000 units came from that option. Each unit contains one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant permits purchase of one Class A ordinary share at $11.50, subject to certain adjustments.

From the IPO and a simultaneous private placement of units, $212,100,000 was placed in trust for public shareholders. Units began trading on the NYSE on October 1, 2026. Once separate trading begins, the shares and warrants are expected to list on Nasdaq as PORT and PORT.W. An audited October 2, 2026 balance sheet reflecting the proceeds will accompany a forthcoming Form 8-K.

2 points · 1 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major pointIPO completed with 21,000,000 units at $10.00 each, including 1,000,000 from the partially exercised over-allotment option.
• Minor point$212,100,000 placed in trust from the IPO and simultaneous private placement for public shareholders.

Negative

• Major pointNew shares and warrants issued: each IPO unit contains one Class A share and one-half redeemable warrant.
• Minor point. Forward-looking: it has not happened yet and may not happen.Warrant exercise permits additional shares at $11.50 each, subject to certain adjustments.

Key Figures

Units issued: 21,000,000 units Price per unit: $10.00 per unit Trust account proceeds: $212,100,000 +2 more

Units issued

21,000,000 units

Initial public offering closing; includes 1,000,000 units from partial over-allotment exercise

Price per unit

$10.00 per unit

Offering price

Trust account proceeds

$212,100,000

Placed in trust from the IPO and simultaneous private placement

Unit composition

1 Class A ordinary share and 1/2 redeemable warrant

Terms of each offering unit

Warrant exercise price

$11.50 per share

Per whole warrant, subject to certain adjustments

Key Terms

over-allotment option, redeemable warrant, private placement, registration statement

4 terms

over-allotment option financial

"issued pursuant to the partial exercise by the underwriters of their over-allotment option."

An over-allotment option is a special agreement that allows underwriters to sell more shares than initially planned if demand is high. Think of it like a retailer offering extra units of a popular product to meet additional customer interest. This option helps ensure the full sale is completed and can also give investors extra shares if they want more.

redeemable warrant financial

"one-half of one redeemable warrant"

A redeemable warrant is a financial tool that gives its holder the right to buy shares of a company at a fixed price within a certain period. If the holder chooses to do so, the company can buy back or cancel the warrant before it expires, often to encourage investment or manage share issuance. For investors, it provides an option to potentially buy shares at a favorable price while offering some flexibility for the issuing company.

private placement financial

"the initial public offering and a simultaneous private placement of units"

A private placement is a sale of securities directly to a selected group of investors, typically institutions or accredited investors, instead of through a public offering. It lets a company raise money faster and with fewer regulatory steps; for existing shareholders it matters because the newly issued shares, often sold at a discount, increase the share count and can dilute their ownership.

registration statement regulatory

"A registration statement relating to the units and the underlying securities"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Greenwich, CT, Oct. 02, 2026 (GLOBE NEWSWIRE) -- Southport Acquisition Corp. II (NYSE: PORT.U) (the “Company”) today announced the closing of the Company’s initial public offering of 21,000,000 units, which includes 1,000,000 units issued pursuant to the partial exercise by the underwriters of their over-allotment option. The offering was priced at $10.00 per unit.

The Company’s units began trading on the New York Stock Exchange (“NYSE”) on October 1, 2026, under the ticker symbol “PORT.U.” Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with 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 comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “PORT” and “PORT.W,” respectively.

Cohen & Company Capital Markets acted as the sole book-running manager for the offering. Ellenoff Grossman & Schole LLP and Ogier (Cayman) LLP served as legal counsel to the Company, and Reed Smith LLP served as legal counsel to the underwriters.

A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission (the “SEC”) on September 30, 2026. 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 offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering was made only by means of a prospectus, copies of which may be obtained from Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, 3 Columbus Circle, 24th Floor, New York, NY 10019, Attention: Prospectus Department, or by email at: capitalmarkets@cohencm.com. Copies of the registration statement can be accessed for free through the SEC’s website at www.sec.gov.

Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units, $212,100,000 was placed in the Company’s trust account for the benefit of the Company’s public shareholders. An audited balance sheet of the Company as of October 2, 2026 reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the SEC.

About Southport Acquisition Corp. II

The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an initial business combination target in any business, industry, sector or geographical location. The Company’s management team is led by Jeb Spencer, its Chief Executive Officer and Chairman of the Board of Directors, and Griffith Gates, its President and Chief Operating Officer. Jared Stone, Matthew Hansen, David Winfield, Cathleen Schreiner-Gates, John Aslanian and Robert Katz are independent directors.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the search for an initial business combination. 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 offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.

Contact Information:

Southport Acquisition Corp. II
Jeb Spencer, Chief Executive Officer
jspencer@tvccapital.com 

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many units did Southport Acquisition Corp. II sell in its IPO, and at what price?

Southport Acquisition Corp. II completed its IPO of 21,000,000 units at $10.00 per unit. The total includes 1,000,000 units issued through the underwriters’ partial exercise of their over-allotment option.

Can fractional Southport Acquisition Corp. II warrants trade after the IPO units separate?

Only whole warrants will trade, and no fractional warrants will be issued when the units separate. Each unit contains one-half of one redeemable warrant.