Gundlach’s Bleichroeder Acquisition II $250M SPAC IPO. Cartica Deal with Nidar Infrastructure Terminated and Expects to Liquidate. Twelve Seas Investment Separate Trading.
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SPAC IPO: BLEICHROEDER ACQUISITION CORP. II (BBCQU)
Ticker: BBCQU (Units) | Size: $250 Million | Sponsor: Andrew Gundlach / Michel Combes
Bleichroeder Acquisition Corp. II priced its $250 million initial public offering yesterday and begins trading on the Nasdaq today, January 8, 2026. This launch marks the fourth SPAC IPO of the new year, signaling a continued appetite for seasoned institutional sponsors in the “blank check” space. Following in the footsteps of its predecessor, the New York-based vehicle enters the market with a flexible mandate but a clear leaning toward high-growth, technology-enabled sectors.
The Strategy: Bleichroeder II is designed to target “disruptive growth sectors” within North America and Europe. While the prospectus allows for a broad search, the firm has signaled a specific interest in businesses undergoing digital transformations or those that can leverage the management team’s deep roots in global asset management.
The Leadership Team: The SPAC is anchored by a sophisticated group of investment professionals and operators:
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Andrew Gundlach (CEO, President & Chairman): A veteran of the investment world, Gundlach is the President and Co-CEO of Bleichroeder LP and a long-time adjunct professor at Columbia Business School. His background includes significant M&A experience at JPMorgan and Morgan Stanley.
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Michel Combes (Co-Founder): The former CEO of SoftBank Group International and Sprint, Combes brings massive operational scale and a deep Rolodex in the TMT (Technology, Media, and Telecommunications) sector.
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Robert Folino (CFO): Currently the COO and Head of Trading at Bleichroeder, Folino oversees financial operations and has a two-decade track record in asset management.
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The Board: Includes Kathy Savitt (former CMO of Yahoo and current President of Knix) and Antoine Theysset, providing a mix of consumer tech expertise and institutional governance.
The Structure: The offering consists of 25 million units priced at $10.00. Each unit contains one Class A ordinary share and one-third of a redeemable warrant (exercisable at $11.50). This 1/3 warrant structure is a hallmark of “tier-one” sponsors, offering enough of a sweetener to attract IPO investors without overly diluting the post-merger equity stack. Cohen & Company Capital Markets and Clear Street acted as the co-managers for the deal.
The Verdict: Bleichroeder II is a high-conviction play on the “smart money” bridge between private growth equity and public markets. With Michel Combes’ operational pedigree in global tech and Andrew Gundlach’s value-investing discipline, this SPAC is well-positioned to find a target in the European or North American tech ecosystem that may have been overlooked by more generalist vehicles. For investors, the appeal lies in an experienced SPAC management team and possesses the institutional weight to execute a high-profile “de-SPAC” in a stabilizing market.
SPAC DEAL TERMINATIONS (Last 10 Days)
2026-01-07: CITE + NIDAR INFRASTRUCTURE LIMITED
OTHER SPAC NEWS
CITE – CARTICA ACQUISITION CORP * Deal Termination
ROSS – ROSS ACQUISITION CORP II * Non-Reliance on Financial Statements
SEPARATE WARRANTS/RIGHTS
Jan 09: TWELVE SEAS INVESTMENT CO III (TWLV)
Jan 06: BLUEPORT ACQUISITION LTD (BPAC)
Jan 05: ALUSSA ENERGY ACQUISITION CORP II (ALUB)
SPAC NON-RELIANCE 8-K
BPGC Acquisition Corp. : Non-Reliance on Previously Issued Financials
SPAC DEAL TERMINATIONS (Last 10 Days)
2025-12-29: FVN + Viwo Technology Inc.
NEW SPAC IPOs
Jan 08: BBCQ – Bleichroeder Acquisition Corp. II $250M IPO
Jan 07: SORN – Soren Acquisition Corp. $220M IPO
Jan 06: BIII – Black Spade Acquisition Iii Co $150M IPO
Jan 06: ARTC – Art Technology Acquisition Corp. $220M IPO
SPAC MOVERS
YESTERDAY’S TOP SPAC GAINERS
5.6% ~ $ 17.95 | CCCX – CHURCHILL CAPITAL CORP X (Announced)
2.2% ~ $ 16.34 | ASPC – ASPAC III ACQUISITION CORP (Announced)
1.8% ~ $ 10.80 | YHNA – YHN ACQUISITION I LTD (Announced)
1.5% ~ $ 10.81 | CAPN – CAYSON ACQUISITION CORP (Announced)
.8% ~ $ 10.49 | RIBB – RIBBON ACQUISITION CORP (Announced)
YESTERDAY’S TOP SPAC LOSERS
-8.7% ~ $ 13.08 | ALCY – ALCHEMY INVESTMENTS ACQUISITION CORP 1 (Announced)
-7.7% ~ $ 8.35 | RDAC – RISING DRAGON ACQUISITION CORP (Announced)
-4.9% ~ $ 13.98 | TBMC – TRAILBLAZER MERGER CORP I (Announced)
-2.4% ~ $ 13.25 | PCSC – PERCEPTIVE CAPITAL SOLUTIONS CORP (Pre-Deal)
-1.2% ~ $ 13.00 | ESHA – ESH ACQUISITION CORP (Announced)
LATEST SPAC IPO PERFORMANCE
Jan 08 | BBCQ – Bleichroeder Acquisition Corp. II
Jan 07 | SORN – Soren Acquisition Corp.
Jan 06 | ARTC – Art Technology Acquisition Corp.
Jan 06 | BIII – Black Spade Acquisition III Co
Dec 23 | $ 9.97 | SVAQ – Silicon Valley Acquisition Corp.
Dec 23 | $ 10.01 | SCPQ – Social Commerce Partners Corp
Dec 19 | $ 9.94 | BEBE – TGE Value Creative Solutions Corp
Dec 18 | $ 10.04 | VHCP – Vine Hill Capital Investment Corp. II
Dec 18 | $ 10.00 | ADAC – American Dynamism Acquisition Co
Dec 18 | $ 10.01 | LPCV – Launchpad Cadenza Acquisition Corp I
Dec 17 | $ 10.30 | CCXI – Churchill Capital Corp XI
Dec 17 | $ 9.94 | IRHO – Iron Horse Acquisition Corp. II
Dec 16 | $ 10.05 | CRAN – Crane Harbor Acquisition Corp. II
Dec 12 | $ 9.96 | ITHA – ITHAX Acquisition Corp III
Dec 12 | $ 9.98 | TWLV – Twelve Seas Investment Co III
Dec 11 | $ 10.08 | KBON – Karbon Capital Partners Corp.
Dec 11 | $ 9.99 | BLRK – Bluerock Acquisition Corp.
Dec 10 | $ 10.00 | MESH – Meshflow Acquisition Corp
Dec 09 | $ 10.06 | DSAC – Daedalus Special Acquisition Corp.