BHAV Acquisition Corp II prices $100M SPAC IPO, trimmed from $150M
What's the deal? BHAV Acquisition Corp II priced its initial public offering of 10,000,000 units at $10.00 each, raising $100 million. The units began trading on the Nasdaq Global MarketDealroom has a profile for this one. Try Dealroom → under the ticker "BHAIU" on October 29, 2026, with the offering expected to close the following day.
The details: Each unit consists of one Class A ordinary share and one right, entitling holders to one-fourth of a share once BHAV completes a business combination. Maxim Group LLCDealroom has a profile for this one. Try Dealroom → is sole book-running manager and holds a 45-day option to buy up to 1,500,000 additional units to cover over-allotments.
Who's behind it? The Piscataway, New Jersey blank check company is led by chief executive officer Giri Devanur and chief financial officer Chaitanya Kumar Setti. It plans to target sectors including advanced and industrial robotics, electric vehicles, drones, fintech, quantum computing, and next-generation energy such as small modular nuclear reactors.
Why now? BHAV cut its raise from a planned $150 million — 15 million units — down to $100 million, according to an October 23 filing, while keeping the $10.00 unit price. The trimmed deal lands in a busier but more selective SPAC market.
What could go wrong? As a blank check company, BHAV has no revenue and no target yet; its value hinges entirely on finding and closing a deal. The company itself warns that no assurance can be given the offering's proceeds will be used as planned.
The signal: US SPAC issuance has rebounded sharply — PwCDealroom has a profile for this one. Try Dealroom → counted 153 IPOs raising $27 billion through September 2026, up from 100 raising $18.8 billion a year earlier. But completed mergers have lagged, with 27 de-SPAC deals through September versus 35 the year before. BHAV's trimmed raise is a routine entry into that revived field, with its significance resting on whether it can close a combination.
Read more: marketscreener.com
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