Andina Acquisition Corporation II (AAC II) is a U.S. publicly traded company (NASDAQ: ANDAU). In November 2015, we raised $40 million in equity through the sale of 4.0 million units for the purpose of making a minority investment in a private company.

We aim to find and invest in a fast-growing private company in the Andean region and help it unlock unrealized growth potential via a listing on the NASDAQ. For the target company, a NASDAQ listing will open up broad new sources of capital at a reduced cost, and can facilitate geographic expansion and consolidation strategies.

AAC II seeks to repeat the successful business combination between Andina Acquisition Corporation I (AAC I) and Tecnoglass Inc, which was executed in 2013. (NASDAQ: TGLS). As a public entity, Tecnoglass has outperformed its initial growth objectives and was the best performing SPAC in the world in the 2010-2015 period.




Andina Acquisition Corporation II is a Special Purpose Acquisition Company SPAC. We raised $40 million in equity in November 2015 via an initial public offering (“IPO”) to invest and enter into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with a target company chosen by the management team.

Ideal Target Company

Due to the public nature of our investment approach, we are seeking out companies in the region that will maximize value to shareholders. Key criteria for selection include:
  • Double-digit revenue growth over the last 3 years and robust projections for long-term growth

  • EBITDA greater than $20 million

  • Equity value size between US $100-$300 million

  • International presence, or strong interest in international expansion


For private companies in the region, a merger with Andina Acquisition Corporation II can deliver a range of benefits:
  • Access to new sources of capital and public currency (listed stock) to fund expansion and acquisitions

  • Exposure to public investor community via a NASDAQ listing

  • Potential for company value appreciation due to public market valuation metrics

  • Original shareholders retain majority ownership and control of their company

  • Enhanced liquidity for company and partners

  • International visibility and recognition


Andina Acquisition Corporation II (AAC II) is the second operation of this management team. In March 2012, we raised USD42mn from the sale of 4.2 million units under Andina Acquisition Corporation I (AAC I) and signed a definitive agreement to merge with Tecnoglass (TGLS) in August 2013. The business combination was valued at approximately $313million on a pro forma fully diluted basis (9X 2013E adjusted EBITDA).

The merger with Tecnoglass has been highly successful both for investors (see TGLS stock price) as well as for the company. In specific, benefits to the company have included:

  • US public listing increased ten times TGLS US performance bonding capacity
  • LTM adjusted EBITDA jumped from USD27m as of June 2013 to USD52m in June 2015
  • US revenues rose from c30% of total revenues in fiscal year 2012 to c60% by June 2015

TGLS Stock Price

Investor Relations


Andina Acquisition Corporation II units are traded on Nasdaq under the symbol ANDAU.


Andina Acquisition Corp. II announces closing of Initial Public Offering

(BUSINESS WIRE)--Andina Acquisition Corp. II (NASDAQ:ANDAU) (the “Company”) announced today that it has completed its initial public offering of 4,000,000 units. Each unit consists of one ordinary share, par value $.0001 per share, one right to receive one-seventh of one ordinary share upon consummation of an initial business combination and one warrant entitling the holder to purchase one-half of one ordinary share at a price of $11.50 per full share commencing on the later of the Company’s completion of its initial business combination or November 24, 2016…



Andina Acquisition Corporation completa su fusión con Tecnoglass

BUSINESS WIRE)--Andina Acquisition Corporation (NASDAQ: ANDA; ANDAW) (“Andina”) hoy anunció el cierre de su función con la empresa privada Tecnoglass, Inc. tras la recibir la aprobación de los accionistas en la Asamblea General Extraordinaria de Accionistas de Andina que se llevó a cabo hoy en la ciudad de Nueva York…


SEC Fillings

Access and review the company’s SEC filings for more details
about Andina Acquisition Corporation II and its recent activities:

Form Description Date Format
10-Q10-Q - Quarterly report [Sections 13 or 15(d)]
Acc-no:0001493152-17-011666 (34 Act) Size:1 MB
DEFR14ADEFR14A - Revised definitive proxy soliciting materials
Acc-no:0001493152-17-011607 (34 Act) Size:288 KB
DEF 14ADEF 14A - Other definitive proxy statements
Acc-no:0001493152-17-011567 (34 Act) Size:283 KB
PRE 14APRE 14A - Other preliminary proxy statements
Acc-no:0001493152-17-011144 (34 Act) Size:276 KB
SC 13GSC 13G - Statement of acquisition of beneficial ownership by individuals
Acc-no:0000913849-17-000306 (34 Act) Size:59 KB
8-K8-K - Current report
Acc-no:0001493152-17-010117 (34 Act) Size:43 KB
DEF 14ADEF 14A - Other definitive proxy statements
Acc-no:0001493152-17-008748 (34 Act) Size:308 KB
PRE 14APRE 14A - Other preliminary proxy statements
Acc-no:0001493152-17-008135 (34 Act) Size:274 KB
10-Q10-Q - Quarterly report [Sections 13 or 15(d)]
Acc-no:0001493152-17-007877 (34 Act) Size:1 MB
8-K8-K - Current report
Acc-no:0001493152-17-007327 (34 Act) Size:29 KB