Insight Digital Partners II (NASDAQ: DYOR) is a blank check company formed for the purpose of completing a merger, share exchange, asset acquisition, or similar business combination with one or more target businesses. The company was incorporated on July 11, 2025 (inception) and completed its Initial Public Offering on October 30, 2025, placing $172,500,000 ($10.00 per Unit) into a Trust Account. Proceeds held in the Trust Account are invested in U.S. government treasury obligations with a maturity of 185 days or less, or in qualifying money market funds, until the completion of an initial Business Combination or redemption of public shares. The company has not yet identified or completed a Business Combination as of the period ending December 31, 2025. Insight Digital Partners Sponsor LLC serves as the sponsor, and Cohen participated in the private placement of warrants alongside the sponsor, purchasing 1,725,000 Private Placement Warrants at $1.00 per warrant as of the IPO closing.

Revenue model

The company generates no operating revenue. Its structure is a special purpose acquisition company (SPAC). Funds are held in trust and released only upon completion of a Business Combination or redemption of public shares. Interest earned in the Trust Account may be released to cover taxes.

Products and services

Units issued in the IPO consisting of Class A Ordinary Shares and Public Warrants. Private Placement Warrants sold to the Sponsor (3,725,000 warrants) and Cohen (1,725,000 warrants) at $1.00 per warrant, raising $5,450,000 in aggregate, as of the IPO closing on October 30, 2025.

Customers and end markets

Public shareholders who purchased Units in the IPO. Shareholders are entitled to redeem Public Shares for a pro rata share of the Trust Account under defined conditions. The end market is determined by the target business selected for the initial Business Combination, which had not been identified as of December 31, 2025.

Value-chain role

SPAC sponsor and acquisition vehicle. The company raises capital through a public offering, holds proceeds in trust, and seeks a private operating business to take public through a Business Combination. Insight Digital Partners Sponsor LLC and Cohen serve as key capital and organizational parties.

Source: SEC 10-K, filed 2026-03-13

Industry: Blank Checks