Southport Acquisition Corp. II closes $210M IPO with partial over-allotment
- Southport Acquisition Corp. II closed its IPO at $210 million after partial over-allotment exercise
- Total units sold rose to 21 million from the initial 20 million priced at $10 per unit
- The company placed $212.1 million in its trust account for public shareholders
- Units began trading on NYSE on October 1, 2026, under symbol PORT.U
*this image is generated using AI for illustrative purposes only.
Southport Acquisition Corp. II (NYSE: PORT) announced the closing of its initial public offering of $210,000,000. The final offering size includes 1,000,000 units issued pursuant to the partial exercise of the underwriters' over-allotment option, raising the total units sold to 21,000,000 at $10.00 per unit.
The company placed $212,100,000 in its trust account for the benefit of public shareholders, funded by proceeds from the IPO and a simultaneous private placement. An audited balance sheet reflecting these receipts will be filed with the SEC in a Current Report on Form 8-K.
Offering Structure and Terms
Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder 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. The underwriters exercised their option partially, purchasing an additional 1,000,000 units beyond the base offering of 20,000,000 units.
| Metric | Detail |
|---|---|
| Total Offering Size | $210,000,000 |
| Price Per Unit | $10.00 |
| Units Sold | 21,000,000 |
| Over-allotment Exercised | 1,000,000 units |
| Trust Account Amount | $212,100,000 |
| Warrant Exercise Price | $11.50 per share |
Company Profile and Management
Southport Acquisition Corp. II 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 management team is led by Jeb Spencer, Chief Executive Officer and Chairman of the Board of Directors, and Griffith Gates, President and Chief Operating Officer. The independent directors are Jared Stone, Matthew Hansen, David Winfield, Cathleen Schreiner-Gates, John Aslanian and Robert Katz.
Regulatory and Advisory Details
A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission on September 30, 2026. 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, while Reed Smith LLP served as legal counsel to the underwriters. The offering was made only by means of a prospectus.
Which specific industries or geographic regions is the management team prioritizing for the initial business combination target?
How does the $212.1 million trust account compare to recent SPAC IPOs, and what does this imply about current investor appetite for blank-check vehicles?
What are the potential dilution impacts on existing shareholders if the warrants at $11.50 are exercised following a successful merger?
15
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
