Newbury Street II Acquisition Corp Announces Closing of $172.5 Million Initial Public Offering

New York, NY, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Newbury Street II Acquisition Corp (the "Company") today announced the closing of its initial public offering of 17,250,000 units, which includes 2,250,000 units issued pursuant to the exercise of the underwriter's  over-allotment option in full. The offering was priced at $10.00 per unit, resulting in gross proceeds of $172,500,000, before deducting underwriting commissions and offering expenses.

The Company's units began trading on November 1, 2024 on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "NTWOU." Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share at an exercise price of $11.50 per share. 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 "NTWO" and "NTWOW," respectively.

Of the proceeds received from ...