Artius Acquisition is a SPAC — a blank check company with no operating business — that raised $220M in its February 2025 IPO. Those proceeds sit in a trust account while management searches for a private company to acquire and take public, a transaction referred to as the "initial business combination." The SPAC is led by Boon Sim, who previously ran Artius I, a $724.5M SPAC that merged with Origin Materials in 2021. Sim's background includes Global Head of M&A at Credit Suisse, private equity at Artius Capital, and a senior role at Singapore's Temasek sovereign wealth fund. While the SPAC is not restricted to any particular sector, management intends to focus on technology-enabled businesses, including fintech, software, and tech-enabled services, with a preference for targets with recurring revenue, strong free cash flow, and high barriers to entry. Expected deal sources include private equity sponsor-owned assets, corporate carve-outs, and founder- or management-owned businesses. The SPAC's economics center on sponsor "promote" — the sponsor received a stake at nominal cost and earns a substantial return if a deal closes and the combined company performs well. Public shareholders can redeem shares at approximately $10 per share plus interest if they choose not to participate in a deal. If no acquisition closes within the allotted timeframe, the SPAC liquidates and returns trust proceeds to shareholders.