Alussa Energy Acquisition Corp. II (ALUB.W) Warrant
Each ALUB.W warrant gives the holder the right to buy 1 share of Alussa Energy Acquisition Corp. II at $11.50 per share, for five years after the company completes its merger. The stock last closed at $10.13, below the strike, so the warrant is out of the money. Alussa Energy Acquisition Corp. II has a market value of about $364.05M. Alussa Energy Acquisition Corp. II is a SPAC (no deal announced yet). It must complete a deal by November 14, 2027 or the warrants expire worthless. There are 9.58M listed warrants; exercising all of them would add 26.7% to the 35.94M shares outstanding.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- merger + 5 years
- Redemption trigger
- $18.00
- Cashless exercise
- allowed
- Break-even stock price
- $11.90
From the issuer's S-1/A (2025-10-24).
Company and stock
- Company
- Alussa Energy Acquisition Corp. II
- Underlying stock
- ALUB
- Share price
- $10.13
- Market cap
- $364.05M
- Shares outstanding
- 35.94M
- Range since Jan 2026
- $9.92 – $10.15
- Change since Jan 2026
- +2%
- Value of all listed warrants
- $3.83M (1.1% of market cap)
- Industry
- Blank check company (SPAC)
- Head office
- Grand Cayman, Cayman Islands
- Incorporated in
- Cayman Islands
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). Industry and head office are as the company reports them to the SEC. All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.4000
- Price / model
Pro will show whether ALUB.W is cheap or rich against our model. It is not open yet. Leave your email to hear when it is.
Dilution
- Shares outstanding
- 35.94M
- Listed warrants
- 9.58M
- Dilution if all exercised
- 26.7%
Warrant count from filing iXBRL: PublicWarrantsMember.
SPAC deal
- Status
- no deal announced yet
- Target
- —
- Deal announced
- —
- Deadline
- 2027-11-14
- Latest possible deadline
- 2027-11-14
- Trust per share
- $10.23
- Sponsor
- Alussa Energy Sponsor II LLC
- Sponsor's earlier SPACs
- 1 (0 closed a deal)
- Chance of a deal
A SPAC warrant is worth nothing if no deal closes by the deadline.
Filings and events
Questions about ALUB.W
When does the ALUB.W warrant expire?
Five years after the SPAC completes its merger; if no merger closes by the deadline, the warrants expire worthless.
What is the strike price of ALUB.W?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many ALUB.W warrants are outstanding?
9.58M listed warrants, equal to 26.7% dilution if all are exercised.
Related warrants
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