Oyster Enterprises II Acquisition Corp (NASDAQ: OYSE) is a blank-check special purpose acquisition company (SPAC) formed to identify and complete a merger, share exchange, asset acquisition, or similar business combination with one or more target businesses. The company generates no operating revenue. Its capital base consists of $253,000,000 in gross IPO proceeds raised on May 23, 2025, from the sale of 25,300,000 Public Units at $10.00 per unit, plus $7,080,000 from a concurrent private placement of 708,000 Private Placement Units to its Sponsor and BTIG. The full $253,000,000 is held in a Trust Account invested in U.S. government securities. The company has until May 23, 2027 (the 24-month Combination Period) to consummate an initial Business Combination or return trust proceeds to shareholders. Leadership includes Heath Freeman (Chairman), Mario Zarazua (Vice Chairman and CEO), and advisor Randall Smith, all of whom were previously affiliated with Oyster Enterprises Acquisition Corp (Oyster I), a $230 million SPAC that liquidated in December 2022 without completing a deal.

Revenue model

No operating revenue. The company holds $253,000,000 in trust, invested in U.S. government securities with maturities of 18 months or less. Interest earned on trust assets is the only income prior to a Business Combination. If no Business Combination is completed by May 23, 2027, all trust proceeds are returned to public shareholders.

Products and services

Public Units (ticker: OYSEU), each consisting of one Class A Ordinary Share and one Public Right entitling the holder to one-tenth (1/10) of a Class A Ordinary Share upon consummation of a Business Combination. Public Shares (ticker: OYSE) and Public Rights (ticker: OYSER) trade separately on Nasdaq as of July 11, 2025. 708,000 Private Placement Units were sold at $10.00 per unit to the Sponsor (455,000 units) and BTIG (253,000 units).

Customers and end markets

Institutional and retail investors in SPAC securities. As of March 9, 2026, there were three holders of record of Units, one holder of record of Class A Ordinary Shares, one holder of record of Class B Ordinary Shares, and one holder of record of Rights.

Value-chain role

Blank-check acquisition vehicle. Sources capital from public markets, holds proceeds in trust, and seeks a target business for combination. BTIG served as book runner and underwriter representative for the IPO. Continental acts as trustee for the Trust Account.

Geographic exposure

Incorporated as a Cayman Islands entity. Sponsor organized as a Delaware limited liability company. No operating geographic footprint disclosed in the filing.

Source: SEC 10-K, filed 2026-03-09

Industry: Blank Checks