Aldel Financial II Inc.ALDF
Shareholder meeting
Oct 5, 2026
A meeting is scheduled. The deadline for electing to redeem usually falls two to seven days before it; this proxy did not state it in a form we would parse without guessing, so check the filing.
Cash in trust
$247M
$247,397,872
Trust per share
$10.98
Redemption value
IPO
Oct 2024
$225M raised
Combination deadline
—
Not disclosed
Filings on record
69
Latest Oct 10, 2026
Overview
Aldel Financial II Inc. is a special purpose acquisition company incorporated and registered with the SEC under CIK 0002031561. It completed its initial public offering in Oct 2024, raising $225M in gross proceeds and listing on Nasdaq. Class A shares trade under the ticker ALDF, units under ALDFU, warrants under ALDFW on Nasdaq. The vehicle is sponsored by Aldel Investors through Aldel Investors II LLC. The mandate targets financial services. IPO closed, trust funded, no definitive agreement announced.
“Our strategy is to identify a business combination that we believe can benefit from our management team's experience and strategic guidance, thereby creating long-term value for our shareholders.”
Reading the filings
Arithmetic on what Aldel Financial II Inc. has disclosed, written the way a desk would read it. These are observations, not a rating. Nothing here scores the vehicle or implies a view on it.
Trading at a discount to trust
At $10.96 the shares sit within a point of the $10.98 redemption value, so the market is pricing the cash and little else.
Trust versus the $10 unit
The trust holds $10.98 per public share, 9.8% above the $10.00 the units were sold at. That spread is accrued interest on the trust and, where the charter provides for it, sponsor contributions paid in to buy more time. It is the floor a public shareholder can redeem at, not a valuation of the business.
Extension history
Shareholders have already approved 1 extension. Each one opened a redemption window, so the public float and the trust are almost certainly smaller than at IPO, and each typically came with a sponsor contribution that lifts trust per share. A vehicle on its second or third extension is one where the sponsor is paying to keep the search alive.
Sponsor promote
The sponsor's founder block is 3,125,000 shares against 22,538,623 public shares, or 12.2% of the combined count, acquired before the IPO at nominal cost. That promote is the structural dilution every public shareholder carries into a combination, and it is why the economics of a de-SPAC differ so sharply from a conventional IPO.
Warrant coverage
Each unit carried one-half warrant per unit. Warrants are dilution deferred: they cost the holder nothing until exercised, and they overhang the post-combination share count. Thinner coverage is generally a sign of a stronger book at pricing.
Sponsor record
Aldel Investors has launched 4 vehicles. Of the 2 that have resolved, 2 closed a combination and 0 liquidated, a 100% completion rate. A sponsor's record is not a forecast, but it does tell you whether the team has taken a deal across the line before.
Underwriting
BTIG led the offering. It has been named on 79 SPAC IPOs, book-running 73 of them, and 52.8% of its resolved vehicles closed a deal. The syndicate has no control over whether a sponsor finds a target, but the quality of the book at pricing shapes who ends up holding the units.
Filings per month since the first one. A vehicle that has gone quiet with a deadline ahead is a different proposition from one that is still working.
69 filings in all. 8 in the last three months, against a busiest month of 23.
Scores
Recomputed 15m agoThree readings of Aldel Financial II Inc., each an unweighted mean of the components shown beneath it, and each component a percentile against every live SPAC rather than an absolute we invented. They describe the setup, not the merit. How they are built
Edge
ElevatedHow much does the structure protect a holder right now?
64/100
- Discount to trust34
-0.03%
- Trust accretion88
$10.98 per share
- Sponsor record71
100.0%
Edge reads the setup, not the business. A vehicle can score well on protection and still be a poor place to leave money once a deal closes.
FOMO
ModerateHow much attention is this vehicle attracting right now?
46/100
- Filing activity72
4 in 30 days
- News coverage0
0 stories in 30 days
- Premium to trust67
0.03%
Attention is not quality. FOMO rises on news volume and on the market paying above trust, both of which have preceded plenty of disappointments.
Potential
ElevatedHow likely is this vehicle to complete a combination, and at what scale?
53/100
- Sponsor record71
100.0%
- Lead bank record13
52.8%
- Bank franchise66
79 SPAC mandates
- Trust scale77
$247M
- Stage40
searching
Potential is about execution, not about the target. It says nothing about whether the eventual deal is worth owning, because the target is usually unknown when the score is computed.
These are derived measures, not ratings of investment merit. They carry no view on the target, no price target and no recommendation, and a high score is not a reason to buy anything.
News on Aldel Financial II Inc.
Last 90 daysNothing in the last 90 days that names this vehicle. We attribute a story only when the release carries the ticker or the registered name, so an empty section means no press release or wire story matched — not that nothing was published. The filings below are the primary record either way.
SEC filing history
Free tier: filings older than 24 hours- 8-K
Entry into a material definitive agreement; Submission of matters to a vote of security holders
Items 1.01, 5.03, 5.07, 9.01 · Accession 0001104659-26-115111
- 8-K
Other events
Item 8.01 · Accession 0001104659-26-109644
- ARS
ARS
Accession 0001104659-26-109346
- DEF 14A
Definitive proxy statement
Accession 0001104659-26-109149
- PRER14A
PRER14A
Accession 0001104659-26-108986
- 8-K
Notice of delisting or failure to satisfy a listing rule
Item 3.01 · Accession 0001104659-26-108236
- PRE 14A
PRE 14A
Accession 0001104659-26-105554
- SCHEDULE 13G/A
Amended beneficial ownership report (passive)
Accession 0001193125-26-351097
- 10-Q
Quarterly report
Accession 0001104659-26-085411
- SCHEDULE 13G/A
Amended beneficial ownership report (passive)
Accession 0001167557-26-000062
- 10-Q
Quarterly report
Accession 0001104659-26-057989
- 10-K
Annual report
Accession 0001104659-26-033988
- SCHEDULE 13G/A
Amended beneficial ownership report (passive)
Accession 0001104659-26-015884
- 8-K
Submission of matters to a vote of security holders
Item 5.07 · Accession 0001104659-25-119279
- SCHEDULE 13G/A
Amended beneficial ownership report (passive)
Accession 0001193125-25-281783
- ARS
ARS
Accession 0001104659-25-106554
- DEF 14A
Definitive proxy statement
Accession 0001104659-25-105795
- 8-K
Current report
Item 5.02 · Accession 0001104659-25-104853
- 4
Statement of changes in beneficial ownership
Accession 0001104659-25-103740
- 4
Statement of changes in beneficial ownership
Accession 0001104659-25-103739
- 3
Initial statement of beneficial ownership
Accession 0001104659-25-102709
- 10-Q
Quarterly report
Accession 0001104659-25-102605
- SCHEDULE 13G/A
Amended beneficial ownership report (passive)
Accession 0000950170-25-108454
- SCHEDULE 13G/A
Amended beneficial ownership report (passive)
Accession 0001140361-25-030960
- SCHEDULE 13G/A
Amended beneficial ownership report (passive)
Accession 0000312069-25-000532
- SCHEDULE 13G/A
Amended beneficial ownership report (passive)
Accession 0001393825-25-000044
- 10-Q
Quarterly report
Accession 0001410578-25-001535
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0000950170-25-089689
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0001011438-25-000310
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0001140361-25-018933
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Aldel Financial II Inc.: questions answered
What is Aldel Financial II Inc. (ALDF)?
Aldel Financial II Inc. is a special purpose acquisition company incorporated and registered with the SEC under CIK 0002031561. It completed its initial public offering in Oct 2024, raising $225M in gross proceeds and listing on Nasdaq. Class A shares trade under the ticker ALDF, units under ALDFU, warrants under ALDFW on Nasdaq. The vehicle is sponsored by Aldel Investors through Aldel Investors II LLC. The mandate targets financial services. IPO closed, trust funded, no definitive agreement announced.
How much does Aldel Financial II Inc. hold in trust?
Approximately $247,397,872, or about $10.98 per public share, as at the most recent filing on record. Trust balances move: shareholders redeem at extension votes and at the combination vote, and sponsors pay contributions in to extend. Treat the figure as a point-in-time disclosure, not a running balance.
When must Aldel Financial II Inc. complete a merger?
No combination deadline appears in the filings we have indexed. The date is stated in the charter and repeated in each quarterly report; where our parser could not establish it with confidence we leave it blank rather than infer one.
What happens if Aldel Financial II Inc. does not find a target in time?
The charter requires the vehicle to redeem 100% of the public shares and return the trust, pro rata, to public shareholders. That is the mechanism working as designed rather than a default. Founder shares and warrants are worthless in that outcome, which is why the sponsor's incentive is to get a deal done or to buy more time. Across the market, deadline lapsed without a deal; trust returned to public shareholders.
Can I redeem shares in Aldel Financial II Inc., and at what price?
Public shareholders may elect to redeem in connection with a combination vote and at each extension vote, at the pro-rata trust value on the relevant record date, most recently disclosed at about $10.98 per share. Redemption is a right attached to the public shares only; warrants and rights carry no claim on the trust. The mechanics and the deadline for electing are set out in the proxy statement for the vote in question.
What tickers does Aldel Financial II Inc. trade under?
Class A shares trade as ALDF on Nasdaq, the units as ALDFU, and the warrants as ALDFW. Units trade first and separate into their component securities roughly 52 days after the IPO; only the Class A shares carry the redemption right against the trust.
Is the trust value the same as the share price for Aldel Financial II Inc.?
No, and the gap between them is the whole trade. Trust per share is a disclosed, contractual figure of $10.98, being what a redeeming holder receives. The market price is whatever the shares change hands at: most recently $10.96, a discount of 0.15% to the redemption value. Quotes on this site are delayed and indicative; confirm on your own venue before trading.
How much dilution do Aldel Financial II Inc.'s founder shares and warrants create?
The founder block is 3,125,000 shares against 22,538,623 public shares, so roughly 12.2% of the combined count sits with the sponsor at nominal cost. Each unit also carried one-half warrant per unit, which is dilution deferred until exercise. Both are disclosed in the prospectus and both survive into the combined company, which is why a de-SPAC at $10 is not economically the same as an IPO at $10.
Who sponsors Aldel Financial II Inc., and what is their track record?
Aldel Investors II LLC is the sponsor entity, part of the Aldel Investors franchise. That franchise has launched 4 vehicles in total, of which 2 closed a combination and 0 liquidated, a 100% completion rate on resolved vehicles. Named principals: Robert I. Kauffman.
Which banks underwrote the Aldel Financial II Inc. IPO?
BTIG. BTIG was credited as book-running manager on the cover. Syndicate membership and role are read from the prospectus cover and the underwriting section.
Is Aldel Financial II Inc. tradeable, and where?
Yes. ALDF returned a live quote of $10.96 on Nasdaq. Quotes here are delayed and refreshed on a schedule rather than streamed, so treat the figure as indicative and confirm on your own venue. Units and warrants trade under their own symbols and are quoted separately.
Is Aldel Financial II Inc. a good investment?
That is not a question this site answers. Aldel Financial II Inc. is covered here as reference data: what the company filed, when it filed it, and what the numbers in those filings say. The Edge, FOMO and Potential scores on this page are derived measures with a published formula, not ratings of investment merit: they describe the setup, and every component is shown so you can take them apart. We publish no price targets and no recommendations, and nothing here should be read as advice. The figures are a starting point for your own work, and each one carries the accession number of the filing it came from.
Where does this Aldel Financial II Inc. data come from?
Filings Aldel Financial II Inc. submitted to the SEC under CIK 0002031561: the registration statement and final prospectus for the structure, quarterly and annual reports for the trust, current reports and proxy statements for deals, votes and extensions. Trust economics are taken from the registrant's own XBRL tags rather than parsed from prose, which is why they are exact. Every filing in the history above is listed with its accession number, which identifies the document uniquely on EDGAR; Pro accounts open it directly from the row.
Compiled by the SPACListing research desk
Last reconciled Oct 19, 2026
Every figure on this page is read from documents the registrants filed with the U.S. Securities and Exchange Commission, principally the IPO prospectus (Form 424B4), quarterly and annual reports, current reports and proxy statements, the registrant's own XBRL tags for trust economics. Nothing is sourced from press coverage, from the companies themselves, or from a third-party aggregator. Where a filing does not disclose something, the field is left blank rather than estimated.
Read the full methodology · What is in the dataset · Report a correction
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Continue reading
The context around this vehicle: who else the sponsor has launched, which banks priced it, and where it sits in the wider market.
Aldel Investors: the full record
Every vehicle this sponsor has launched, what closed, what liquidated and what is still live.
BTIG in SPACs
Mandates, bookrun credit, deal volume and the outcome of the vehicles it priced.
Financial Services SPACs
Every vehicle chasing the same mandate, ranked by cash in trust.
All spacs searching for a target
IPO closed, trust funded, no definitive agreement announced.
Deadline calendar
Which sponsors are running out of time, and when the extension votes land.
What is a SPAC?
The structure, the economics and where the risks actually sit.
SPAC glossary
Every term in a blank-check filing, defined the way practitioners use it.
How this data is built
Coverage universe, ingestion, normalisation, lifecycle classification and known limits.