Breeze Acquisition Corp. II said it sold 12.5 million units at $10.00 apiece in an initial public offering, raising $125 million in gross proceeds. The units started trading on the Nasdaq Global Market on May 13, 2026, under the unit ticker BREZU.
Each unit issued in the offering consists of one ordinary share and one right. Under the terms disclosed, each right entitles the holder to receive one-fifth of one ordinary share upon the completion of an initial business combination. Following separation, the ordinary shares and the rights are expected to trade independently under the symbols "BREZ" and "BREZR," respectively.
The offering was led by IB Capital LLC and I-Bankers Securities, Inc., which served as the book-running managers. The Securities and Exchange Commission declared the registration statement effective on May 12, 2026, enabling the offering to proceed.
Breeze Acquisition Corp. II is a blank check company organized in the Cayman Islands. In its statement, the company identified a focused search area for potential targets: businesses with global operations and technology capabilities in healthcare, biotechnology, advanced manufacturing, robotics, artificial intelligence, and related sectors. The company intends to use the net proceeds from the offering to fund the activities associated with pursuing and completing a future business combination.
Legal counsel in the transaction included ArentFox Schiff LLP representing the company, while Allen Overy Shearman Sterling US LLP served as counsel to the underwriters. The net proceeds from the offering have been earmarked for the company’s future business combination activities.
What this means
- The company now has capital reserved to pursue an initial business combination within the scope described, subject to the timing and terms of any transaction it may complete.
- Holders of the units currently own a bundled interest - an ordinary share plus a right - with the mechanics of the rights tied explicitly to the closing of a business combination.
- The separate trading of the ordinary shares and rights, if it occurs as anticipated, will create individual markets for each instrument under the anticipated tickers.
The information provided by the company outlines the structure of the offering and the stated industry focus, while the legal and underwriting teams responsible for the transaction are identified. The SEC's declaration of effectiveness on May 12, 2026, completed the regulatory step required to allow the offering to proceed and for the units to begin trading on May 13, 2026.