Seaport Global Acquisition II Corp. (SGIIU) Prices $125M IPO


Seaport Global Acquisition II Corp. (SGIIU) Prices $125M IPO

Nov 17, 2021 IPOs by Marlena Haddad

Seaport Global Acquisition II Corp. announced the pricing of its $125 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SGIIU” Thursday, November 17.

The new SPAC intends to focus its search on companies undergoing transformational, transitional, or reorganizational business strategies with an enterprise value of approximately $300 million to $1.0 billion. Seaport Global II is led by Chairman of the Board and Chief Executive Officer Stephen C. Smith, Chief Financial Officer Jay Burnham, Chief Operating Officer Salvatore Bonomo, and Secretary Edward Heim.

Total SPAC deal count for 2021 year-to-date is now 546. This offering is expected to close on Monday, November 19.

B-Riley Securities is acting as the sole book-running manager for the offering. Paul Hastings LLP is serving as Issuer’s Counsel with McDermott Will & Emery LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.