BHAV Acquisition Corp II Closes $100 Million IPO, Announces Board Appointments

BHAV Acquisition Corp II has completed its initial public offering, raising $100 million. The blank check company sold 10,000,000 units at a price of $10.00 per unit, with each unit consisting of one Class A ordinary share and one right. The rights are exercisable for one-fourth of a Class A ordinary share upon the completion of the Company's initial business combination. The units began trading on the Nasdaq Global Market under the ticker symbol "BHAIU" on October 29, 2026. Following the closing, the Class A ordinary shares and rights are expected to trade separately under the symbols "BHAI" and "BHAIR," respectively.

Maxim Group LLC served as the sole book-running manager for the offering. In connection with the IPO, the Company issued 350,000 Class A ordinary shares to the Representative’s designee as underwriting compensation. Additionally, the Company completed the private sale of 225,000 private placement units at $10.00 per unit, generating aggregate gross proceeds of $2,250,000. The Sponsor, BHAV Partners II LLC, agreed not to transfer or sell these private placement units or their underlying securities until after the completion of the initial business combination.

Effective October 29, 2026, Piyush Sadana, John Patrick O’Connell, and Balaji Swaminathan were appointed to the Company's board of directors. The Board determined that all three are independent directors under Nasdaq listing standards, with Mr. Swaminathan qualifying as an "audit committee financial expert." Mr. Swaminathan will chair the audit committee, Mr. O’Connell will chair the nominating committee, and Mr. Sadana will chair the compensation committee.

A total of $100,500,000 from the proceeds of the offerings was placed in a trust account with Continental Stock Transfer & Trust Company acting as trustee. The funds in the trust account will not be released until the earliest of the completion of the initial business combination or the redemption of public shares, subject to specific conditions regarding charter amendments or an inability to complete the business combination within the required period.