Newbury Street II Acquisition Corp completes IPO of 17.25M units, raises $172.5M gross

Newbury Street II Acquisition Corp

IPO of 17,250,000 units at $10.00/unit, including full exercise of overallotment; gross proceeds $172.5M.
Private placement of 648,375 units to sponsor & BTIG at $10/unit raised $6.48M.
Trust account funded with $173.36M ($10.05 per unit) from IPO net proceeds and private placement.
Cash held outside trust $1.26M; deferred underwriting fee $6.04M; shareholders' deficit $4.56M.
Company has 24 months from IPO to complete an initial business combination.

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