Range Capital Acquisition Corp II is a special purpose acquisition company (SPAC) — a blank check company with no operations, revenues, or identified acquisition target. Its sole purpose is to find and acquire a private business, taking it public through a merger rather than a traditional IPO. Range II raised $230M in its October 2025 IPO, with proceeds held in trust invested in U.S. Treasuries while the team searches for a target. Range II has 24 months from its IPO close to complete a deal, with possible extensions up to 36 months; if no deal closes, Range II must liquidate and return trust funds to shareholders. Range II targets businesses with enterprise values of $500M or more, which would require supplemental debt or equity financing beyond the trust proceeds. Range II takes a generalist approach with no geographic or industry constraints, though it has flagged several sectors of interest: energy and nuclear, asset management and specialty finance, fertility and reproductive health, defense tech, and special situations. Range II is led by Tim Rotolo, who simultaneously manages Range I, a similar SPAC that raised $115M in December 2024. Rotolo is contractually required to offer certain deal opportunities to Range I first, meaning Range II may be passed over on some targets.