Galata Acquisition Corp. II closes $172.5M SPAC IPO; $172.5M in trust

Galata Acquisition Corp. II

IPO of 17.25M units at $10.00/unit; gross proceeds $172.5M (full over-allotment exercised).
$172.5M placed in trust; funds available for initial business combination within 24 months.
Private placement of 5.3M warrants at $1.00 each to sponsor ($3.575M) and BTIG ($1.725M).
Board appointed: Daniel Freifeld (Chairman), Douglas Lute, Agostina Nieves, Andy Abell (independent).
Management led by CEO Craig Perry, CIO Daniel Freifeld, President William Weir, CFO Powers Spencer.

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