Company Overview

Andretti Acquisition Corp. II was a special purpose acquisition company (SPAC) formed to pursue a merger, capital stock exchange, asset acquisition, or similar business combination. The company did not conduct operating business activities of its own and generated no commercial revenue; its purpose was to identify and acquire a target company, primarily within the automotive, advanced manufacturing, transportation, and technology-enabled mobility industries. Like other SPACs, its assets primarily consisted of cash held in trust following its initial public offering.

The company was sponsored by affiliates of Andretti Group, a well-known motorsports and mobility organization, and positioned itself as leveraging industry expertise, brand recognition, and strategic relationships to identify differentiated acquisition targets. Andretti Acquisition Corp. II completed its IPO in 2021 and, after failing to consummate a business combination within the required timeframe, liquidated and ceased operations, returning funds held in trust to public shareholders. Based on publicly available filings, the company no longer operates as an active acquisition vehicle.

Business Operations

As a SPAC, Andretti Acquisition Corp. II had no operating segments, products, or services. Its sole business activity consisted of administrative functions related to identifying, evaluating, and negotiating a potential business combination, funded by IPO proceeds and sponsor contributions. The company did not generate operating revenue and incurred expenses related to legal, accounting, regulatory compliance, and due diligence activities.

Operations were limited to the United States and were governed by the terms outlined in its SEC filings, including its registration statement and subsequent periodic reports. Following the expiration of its business combination deadline, the company initiated a liquidation process, dissolved the trust account, and distributed proceeds to public shareholders, consistent with SPAC regulatory requirements.

Strategic Position & Investments

Andretti Acquisition Corp. II’s strategic intent was to acquire a company aligned with innovation in mobility, automotive technology, or advanced manufacturing, drawing on the Andretti brand and industry network as a differentiating factor. The company did not complete any acquisitions or make long-term strategic investments prior to liquidation.

No subsidiaries, portfolio companies, or joint ventures resulted from its activities. While management publicly articulated interest in emerging technologies and transportation-related sectors, these initiatives remained prospective only and did not materialize into executed transactions. Following liquidation, the company no longer maintains a strategic investment posture.

Geographic Footprint

The company was headquartered in the United States, with corporate activities primarily centered on regulatory compliance and transaction sourcing. It did not maintain international operations, physical assets, or employees outside of its administrative structure.

Although its acquisition mandate allowed for global targets, no international investments or operational footprints were established prior to liquidation. Any global orientation was therefore conceptual rather than operational.

Leadership & Governance

Andretti Acquisition Corp. II was led by an experienced SPAC management team with backgrounds in finance, operations, and motorsports-related enterprises. Governance followed standard SPAC structures, with oversight provided by a board of directors and officers responsible for fiduciary duties to shareholders.

Key executives and directors included:

• John E. Baker II – Chief Executive Officer
• Michael Andretti – Director
• William J. Sandbrook – Chief Financial Officer
• Douglas S. Deason – Director

The leadership philosophy emphasized disciplined capital allocation, industry expertise, and alignment with shareholder interests. However, no long-term operating governance structure persisted beyond liquidation, as the company ceased active business following the return of trust proceeds to investors.