Roman DBDR Acquisition Corp. II (DRDBW) Warrant
Each DRDBW warrant gives the holder the right to buy 1 share of Roman DBDR Acquisition Corp. II at $11.50 per share, for five years after the company completes its merger. The stock last closed at $10.73, below the strike, so the warrant is out of the money. Roman DBDR Acquisition Corp. II has a market value of about $329.05M. Roman DBDR Acquisition Corp. II is a SPAC (deal signed with ThomasLloyd Climate Solutions B.V.). It must complete a deal by December 16, 2026 or the warrants expire worthless. There are 11.50M listed warrants; exercising all of them would add 37.5% to the 30.67M shares outstanding.
DRDB vs strike, last 12 months
No share-price history for DRDB yet.
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
- no
- Break-even stock price
- $11.65
From the issuer's S-1/A (2024-12-11).
Company and stock
- Company
- Roman DBDR Acquisition Corp. II
- Underlying stock
- DRDB
- Share price
- $10.73
- Market cap
- $329.05M
- Shares outstanding
- 30.67M
- Value of all listed warrants
- $1.71M (0.5% of market cap)
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.1491
- Price / model
Get Pro to see whether DRDBW is cheap or rich against our model.
Dilution
- Shares outstanding
- 30.67M
- Listed warrants
- 11.50M
- Dilution if all exercised
- 37.5%
Warrant count from filing iXBRL: PublicWarrantsMember.
SPAC deal
- Status
- deal signed
- Target
- ThomasLloyd Climate Solutions B.V.
- Deal announced
- 2026-02-27
- Deadline
- 2026-12-16
- Latest possible deadline
- 2026-12-16
- Trust per share
- $10.67
- Sponsor
- Roman DBDR Acquisition Sponsor II LLC
- Sponsor's earlier SPACs
- 1 (1 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 DRDBW
When does the DRDBW 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 DRDBW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many DRDBW warrants are outstanding?
11.50M listed warrants, equal to 37.5% dilution if all are exercised.