Daily IPO Digest
Daily Digest — October 1, 2026
Published
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Just filed
BHAV Acquisition Corp II
No ticker yet · Initial S-1 · up to $172.5 million · Nasdaq
The sponsor team behind BHAV Acquisition Corp I is back with a second, larger blank-check vehicle — while the first one is still hunting. BHAV I raised $100 million and has yet to close a business combination; now the same team is simultaneously filing BHAV II, which seeks to place up to $172.5 million (including greenshoe) into trust at $10 per unit, targeting an expansive universe of technology sectors — robotics, drones, quantum computing, EVs, fintech, and battery energy storage.
The structural detail worth noting upfront: founder shares are set at 25% of post-offering shares outstanding rather than the de facto standard in SPAC markets, meaning public investors face above-average dilution from day one. The sponsor acquired those founder shares for $25,000 in aggregate — roughly $0.0043 per share — against a $10 trust per unit. The sponsor's combined investment at closing, including private placement units, comes to $3,275,000.
The base trust is $150 million, with $10.00 per share available to redeeming holders — the standard SPAC downside floor. The combination deadline runs to 450 days from closing. Sponsors collect a $20,000 monthly office fee while the search runs. The sector mandate is deliberately broad — the filing cites markets from advanced robotics (projected at $280 billion by 2034) to quantum computing (a 29.7% CAGR market) — which means no specific acquisition target has been identified and the team's deal selection discipline is the only variable that matters. Running two SPACs simultaneously sharpens that question.
Sources
Regulatory filings
- SEC filings