IPO

BEST SPAC I Acquisition Corp. completed its $55 million IPO, priced at $10 per unit, on Nasdaq under the symbol BSAAU. The British Virgin Islands-based SPAC’s offering, managed by Maxim Group LLC, includes an over-allotment option. With focus on the consumer goods sector, the company aims to merge with a suitable target. The SEC declared the registration statement effective on June 12, 2025.

Quantum BioPharma (QNTM) addresses marketplace misinformation and provides an update on its Unbuzzd Wellness Inc. partnership. The company clarifies its identity and denies any reverse takeover with Unbuzzd, which is preparing for a potential IPO. QNTM holds a significant stake in Unbuzzd through royalties and shares, including an anti-dilution warrant. Other key items include the company’s loan to Unbuzzd, the debt settlement, and product news.

Unitree Robotics, formerly Hangzhou Unitree Technology, rebranded, sparking IPO speculation. Discussions with Hong Kong’s Chief Executive about a potential listing and the company’s global expansion plans, fueled by rapid growth and talent demands, suggest an aggressive future direction. The restructuring’s timing is significant, despite the company’s claims that it will not affect current operations.

Honor executives, including CEO Li Jian, discussed the company’s IPO plans after launching the Honor 400 series. CFO Peng Qiuen confirmed completed shareholding restructuring and engagement of financial advisors, legal counsel, and accounting firms. The IPO timing will depend on market conditions and strategic development, aiming for stakeholder satisfaction. This follows Honor’s legal transformation into a joint-stock limited company. The company intends to pursue an IPO to fuel strategic growth.

Oyster Enterprises II Acquisition Corp upsized its IPO to $220 million (22M units at $10), listing on Nasdaq as OYSEU on May 22, 2025. The SPAC replaces traditional warrants with fractional share rights to minimize investor dilution, targeting AI, blockchain, media, and real estate sectors. Led by tech-linked executives including Divya Narendra, it leverages a $253 million potential warchest with underwriters’ 15% over-allotment option. While benefiting from recovering SPAC market trends and high-growth tech sectors, challenges include competition for acquisitions, undisclosed targets, and prolonged merger timelines prevalent in the post-2023 SPAC landscape. BTIG serves as sole bookrunner.