Breeze Acquisition Corp. II priced its initial public offering of 12.5 million units at $10 per unit for gross proceeds of $125 million, the company said late Tuesday.

Underwriters have a 45-day option to purchase up to about 1.9 million additional units.

Each unit consists of one ordinary share and one right, with each right entitling the holder to receive one-fifth of an ordinary share upon completion of the initial business combination.

The units are expected to begin trading on the Nasdaq Global Market on Wednesday under the "BREZU" symbol, the company said. Once separate trading begins, the ordinary shares and rights are expected to trade under the "BREZ" and "BREZR" symbols, respectively.

The offering is expected to close on or about May 14, subject to customary closing conditions, the company said.