Special purpose acquisition company BOA Acquisition II has successfully completed its $125 million initial public offering, positioning itself to pursue acquisition opportunities across the real estate and infrastructure sectors.

The company raised $125 million by offering 12.5 million units at $10.00 per unit. Each unit consists of one share of common stock and one right that entitles holders to receive one additional share upon the completion of the company’s initial business combination.

BOA Acquisition II is expected to begin trading on the Nasdaq under the ticker symbol THEOU, with D. Boral Capital serving as the sole bookrunner for the transaction.

Focused on Real Estate and Infrastructure Investments

BOA Acquisition II intends to identify businesses and assets operating within the real estate and infrastructure sectors, with particular emphasis on industries expected to benefit from long-term investment and modernization trends.

Management has indicated that the SPAC will primarily target opportunities involving direct investments in energy infrastructure, telecommunications infrastructure, and transportation assets. These sectors continue to attract significant capital as governments and private investors invest in modernizing essential infrastructure while supporting economic growth and digital transformation.

The company’s investment strategy is designed to identify businesses with scalable operations and the potential to benefit from access to the public capital markets through a business combination.

Experienced Leadership Team

The SPAC is led by Chief Executive Officer, Chief Financial Officer, and Director Benjamin Friedman, who serves as Managing Partner at The Avery Companies, Partner at Friedman Capital, and co-founder and director of PhireLink.

He is joined by Chairman Brian Friedman, a Partner at Friedman Capital and co-founder and Managing Partner of Foxhall Partners.

The leadership team’s background in investment management, private capital, and real estate is expected to support the company’s search for acquisition opportunities across its targeted sectors.

Building on Previous SPAC Experience

BOA Acquisition II follows the management team’s earlier blank-check company, BOA Acquisition, which completed its merger with Selina Hospitality in October 2022.

That prior transaction provides the sponsors with experience navigating the SPAC merger process, public market requirements, and post-combination operations, experience that management aims to leverage as it evaluates potential acquisition candidates for its second SPAC.

Infrastructure Remains a Long-Term Investment Theme

Infrastructure continues to represent one of the most attractive long-term investment themes globally. Rising demand for reliable energy systems, expanding digital connectivity, transportation modernization, and increasing private investment in infrastructure assets have created opportunities for companies operating across these sectors.

Telecommunications infrastructure is benefiting from continued 5G deployment, fiber network expansion, and growing demand for data centers. Meanwhile, energy infrastructure investment is being supported by grid modernization, renewable energy development, and increasing electricity demand driven by artificial intelligence and industrial electrification.

Transportation infrastructure also remains an important area of investment as governments and private operators upgrade logistics networks, ports, airports, and freight systems.

Outlook

BOA Acquisition II enters the public markets with $125 million in trust and a clearly defined strategy focused on real estate and infrastructure investments. While the SPAC has not yet identified a merger target, its concentration on energy, telecommunications, and transportation infrastructure aligns with sectors benefiting from long-term structural investment trends. Investors will monitor management’s ability to identify a high-quality acquisition that can capitalize on growing infrastructure spending while delivering sustainable value following a public market debut.