Columbus Circle Capital Corp. II completed its initial public offering by selling 23 million units at $10 per unit, generating $230 million in gross proceeds, the company said in a statement. The offering included the full exercise of the underwriters' over-allotment option, which accounted for 3 million of the units sold.
Units for the blank-check company began trading on the Nasdaq Global Market on February 11, 2026. Each unit is structured to include one Class A ordinary share and one-third of a redeemable warrant. When separated, the Class A ordinary shares and the warrants are expected to trade on Nasdaq under the symbols "CMII" and "CMIIW," respectively.
Holders of a whole warrant will have the right to purchase one Class A ordinary share at an exercise price of $11.50, subject to customary adjustments, according to the statement. The company noted that proceeds from the offering - the full $230 million - were deposited into a trust account for the benefit of public shareholders.
The Securities and Exchange Commission declared the company's registration statement effective on January 30, 2026, clearing the way for the public sale. Cohen & Company Capital Markets served as the lead book-running manager on the transaction, with Clear Street LLC acting as joint book-runner. A subsidiary of Cohen & Company Inc. also served as the sponsor of Columbus Circle Capital Corp. II.
Columbus Circle Capital Corp. II described itself as a blank-check company formed to pursue mergers, acquisitions, or similar business combinations with one or more businesses in any industry or geographic area. The management team named in the filing is led by Chief Executive Officer Gary Quin and Chief Financial Officer Joseph W. Pooler, Jr.
The sponsor, Cohen & Company Inc., operates across capital markets, asset management, and principal investing segments and reported managing approximately $1.4 billion in assets as of December 31, 2025, in its statement included with the offering documentation.
Summary
Columbus Circle Capital Corp. II completed a $230 million IPO by selling 23 million units at $10 each, including 3 million sold under the underwriters' over-allotment option. Units started trading on Nasdaq on February 11, 2026, and the proceeds were placed into a trust for public shareholders. The company is a blank-check vehicle aiming to pursue business combinations broadly, with Cohen & Company Capital Markets and Clear Street LLC serving as underwriters and a subsidiary of Cohen & Company Inc. acting as sponsor.
Key points
- The offering raised $230 million through the sale of 23 million units priced at $10 each, with 3 million units coming from the exercised over-allotment.
- Units began trading on the Nasdaq Global Market on February 11, 2026; the components are expected to trade separately under the tickers CMII (Class A ordinary shares) and CMIIW (warrants).
- The issuer is a blank-check company established to seek mergers and acquisitions across any industry or geography; proceeds were deposited in a trust account for public shareholders.
Risks and uncertainties
- As a blank-check company, Columbus Circle Capital Corp. II has not identified a target and will pursue business combinations, leaving the timing and nature of any transaction uncertain - a risk relevant to investors and M&A market participants.
- The exercise of warrants is subject to an $11.50 exercise price and customary adjustments, which may affect dilution and future capital structure for holders and potential counterparties.
- Proceeds are held in a trust account for the benefit of public shareholders; until a business combination is completed, the company will remain a shell vehicle focused on identifying targets.