Aldel Financial II Inc (ALDF) is a blank check special purpose acquisition company (SPAC) incorporated under Cayman Islands law that raised capital through an IPO to identify and complete a single business combination with a target company. It does not operate an underlying business and generates no product or service revenue. The IPO closed on October 21, 2024, with the underwriter receiving a $4,025,000 upfront discount representing 1.75% of gross IPO proceeds, and a deferred underwriting commission of 3.75% of gross proceeds payable upon completion of a business combination. The sponsor, Aldel Investors II LLC, pays the company a $20,000 monthly fee under an Administrative Services Agreement. As of February 20, 2026, the company had 29,868,214 ordinary shares outstanding, comprising 23,707,500 Class A and 6,106,000 Class B shares. No business combination had been completed as of the 10-K filing date of March 25, 2026.

Revenue model

No operating revenue. The company holds IPO proceeds in trust pending a business combination. The sponsor pays a $20,000 monthly administrative services fee to the company. The underwriter receives a deferred commission of 3.75% of gross IPO proceeds upon deal completion.

Products and services

Blank check vehicle structured to execute a single merger, share exchange, asset acquisition, stock purchase, recapitalization, or similar business combination with an unidentified target company.

Customers and end markets

Public shareholders who purchased Class A ordinary shares and warrants in the IPO. No commercial customers or end markets, as the company has no operating business as of the filing date.

Value-chain role

SPAC sponsor vehicle. Sources acquisition targets, conducts due diligence, negotiates business combinations, and provides a public market entry path for a private target company.

Geographic exposure

Incorporated in the Cayman Islands. No disclosed geographic preference for target businesses as of the 10-K filed March 25, 2026.

Source: SEC 10-K, filed 2026-03-25

Industry: Blank Checks