Newbury Street II Acquisition Corp (NTWOW) Warrant
Each NTWOW warrant gives the holder the right to buy 1 share of Newbury Street II Acquisition Corp at $11.50 per share, for five years after the company completes its merger. The stock last closed at $10.81, below the strike, so the warrant is out of the money. Newbury Street II Acquisition Corp has a market value of about $260.70M. Newbury Street II Acquisition Corp is a SPAC (deal signed with Fort Robotics, Inc.). It must complete a deal by November 4, 2026 or the warrants expire worthless. There are 8.62M listed warrants; exercising all of them would add 35.8% to the 24.12M shares outstanding.
NTWO vs strike, last 12 months
No share-price history for NTWO 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
- $12.45
From the issuer's S-1/A (2024-09-19).
Company and stock
- Company
- Newbury Street II Acquisition Corp
- Underlying stock
- NTWO
- Share price
- $10.81
- Market cap
- $260.70M
- Shares outstanding
- 24.12M
- Value of all listed warrants
- $8.19M (3.1% 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
- $0.9500
- Price / model
Get Pro to see whether NTWOW is cheap or rich against our model.
Dilution
- Shares outstanding
- 24.12M
- Listed warrants
- 8.62M
- Dilution if all exercised
- 35.8%
Warrant count from filing iXBRL: PublicWarrantsMember.
SPAC deal
- Status
- deal signed
- Target
- Fort Robotics, Inc.
- Deal announced
- 2026-08-17
- Deadline
- 2026-11-04
- Latest possible deadline
- 2027-02-04
- Trust per share
- $10.73
- Sponsor
- Newbury Street II Acquisition Sponsor 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 NTWOW
When does the NTWOW 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 NTWOW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many NTWOW warrants are outstanding?
8.62M listed warrants, equal to 35.8% dilution if all are exercised.