05:53 PM EDT, 10/21/2024 (MT Newswires) -- Aldel Financial II (ALDFU) said late Monday it priced its initial public offering of 20 million units at $10 each.

The blank-check company said the IPO underwriter has a 45-day overallotment option to acquire up to 3 million additional units.

Each unit comprises one class A ordinary share and one-half of one redeemable warrant, with each warrant exercisable at $11.50 per share.

The company expects its units to start trading on the Nasdaq Global Market under the ticker symbol ALDFU on Tuesday, while its class A shares and the warrants are expected to be traded under the symbols ALDF and ALDFW, respectively.

Aldel said the IPO is expected to close Wednesday.