Plutux
$10.93
-1.26%
2026-08-31 16:00:00 EDT-$0.14
Financial Services
Shell Companies
NASDAQ
Active Trading

Newbury Street II Acquisition Corp functions as a blank check company, legally structured as an exempted company under Cayman Islands law. Its ...

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$10.93
-1.26%-$0.14
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Newbury Street II Acquisition Corp (NASDAQ: NTWO) is a special purpose acquisition company (SPAC) that was incorporated in 2024 under the laws of the Cayman Islands. The company was founded by Thomas Bushey, who also serves as its CEO. Bushey is the founder and CEO of Sunderland Capital Partners, an ...Newbury Street II Acquisition Corp (NASDAQ: NTWO) is a special purpose acquisition company (SPAC) that was incorporated in 2024 under the laws of the Cayman Islands. The company was founded by Thomas Bushey, who also serves as its CEO. Bushey is the founder and CEO of Sunderland Capital Partners, an operationally focused investment firm. The company was established with the explicit purpose of identifying and completing a business combination with one or more target businesses, which could include a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or other similar transaction. In November 2024, the company successfully completed its initial public offering (IPO), issuing 17.25 million units at a price of $10.00 per unit, generating gross proceeds of approximately $172.5 million. Each unit consists of one ordinary share and one-half of a warrant, with warrants exercisable at $11.50 per share. The company's sponsor, Newbury Street II Acquisition Sponsor LLC, holds 6.118 million Class B ordinary shares, representing the founder's stake. As of the latest financial data, the company has a market capitalization of approximately $193 million, with a stock price of $10.72. The company holds significant cash in trust (approximately $182 million) and has minimal operating expenses, resulting in a low burn rate. The company's financial metrics indicate a net asset value of approximately $10.32 per share, with minimal debt and a strong current ratio of 5.218. The management team, led by CEO Thomas Bushey, brings extensive experience in finance and operations. Bushey previously founded and led Newbury Street Acquisition Corporation (Newbury Street I), a similar SPAC that completed its IPO in March 2021. The board of directors includes notable figures such as Tony Vinciquerra (former CEO of Sony Pictures) and Ted Seides, among others. The company is headquartered at 121 High Street, Floor 3, Boston, Massachusetts. It is listed on the NASDAQ Global Market under the symbol 'NTWO'. The company's primary business objective is to identify and merge with a high-quality company in a sector where the management team has relevant expertise, potentially in financial services, media, or other industries. Given its recent formation and pre-deal status, the company has no current revenue or operations, as is typical for SPACs. Its future success depends on the ability of management to identify and execute a value-accretive business combination. As of now, the company is in its search phase, with no announced target.
Founded
2024
Employees
2
CEO
Thomas Vincent Bushey
Full Name
Newbury Street II Acquisition Corp
Sector
Financial Services
Industry
Shell Companies
ROE
2.80%
Market Cap
$0.20B
Current Ratio
0.40
ROIC
245.28%

Contact Information

617-334-2805
121 High Street, Floor 3 Boston, MA 02110, Boston​, MA 02110

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