Jena Acquisition Corp II (NYSE: JENA) is a blank check company incorporated as a Cayman Islands exempted company that raised capital through an initial public offering to pursue a single merger, acquisition, or similar business combination with one or more target businesses. The company generates no operating revenue. It holds IPO proceeds in a Trust Account, with funds released only upon completion of an initial Business Combination or, if no combination is completed, distributed to Public Shareholders at approximately $10.23 per Public Share (as of December 31, 2025). JENA completed its IPO on May 30, 2025, raising gross proceeds that included a fully exercised over-allotment option of 3,000,000 units, and must complete a Business Combination by May 30, 2027. The management team is led by Chairman William P. Foley, II and Chief Executive Officer Richard N. Massey. Santander serves as financial advisor and is entitled to an advisory fee of $6,900,000, payable only upon closing of the initial Business Combination.

Revenue model

No operating revenue. The company holds IPO proceeds in a Trust Account invested until a Business Combination is completed. Deferred underwriting and advisory fees totaling $6,900,000 each are payable to the underwriters and Santander, respectively, only upon completion of the initial Business Combination (per the 10-K for FY2025).

Products and services

Public Units consisting of one Class A Ordinary Share and one Public Right, sold in the May 30, 2025 IPO. Private Placement Units sold to the Sponsor. Founder Shares (Class B Ordinary Shares) held by Initial Shareholders.

Customers and end markets

Public Shareholders who purchased Class A Ordinary Shares and Rights in the IPO or open market. The end market is an unidentified target business suitable for a Business Combination, with no specific sector disclosed in the filing excerpts.

Value-chain role

Special purpose acquisition company (SPAC). Acts as a capital aggregator and acquisition vehicle, holding Trust Account proceeds and identifying a merger or acquisition target. Santander acts as financial advisor; Continental serves as Rights agent.

Geographic exposure

Incorporated in the Cayman Islands. Units and shares listed on the New York Stock Exchange as of July 21, 2025. No operating geographic footprint disclosed.

Source: SEC 10-K, filed 2026-03-30

Industry: Blank Checks