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.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$0
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Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$6.6M
+535.3%
-77.5%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
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Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
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Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
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Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-464695
-55.7%
+63.3%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
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Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
0.0%
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Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
6.08x
-41.6%
-92.4%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.