Tearsheet

Burtech Acquisition II (BRKH)


Market Price (7/15/2026): $9.88 | Market Cap: $121.3 MilSector: Financials | Industry: Multi-Sector Holdings

Burtech Acquisition II (BRKH)


Market Price (7/15/2026): $9.88
Market Cap: $121.3 Mil
Sector: Financials
Industry: Multi-Sector Holdings

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Trading close to highs
Dist 52W High is 0.0%

Weak multi-year price returns
2Y Excs Rtn is -46%, 3Y Excs Rtn is -77%

Stock price has recently run up significantly
6M Rtn6 month market price return is 352%, 12M Rtn12 month market price return is 242%

High stock price volatility
Vol 12M is 804%

Key risks
BRKH key risks include [1] a failure to complete a business combination within the required timeframe, Show more.

0 Trading close to highs
Dist 52W High is 0.0%
1 Weak multi-year price returns
2Y Excs Rtn is -46%, 3Y Excs Rtn is -77%
2 Stock price has recently run up significantly
6M Rtn6 month market price return is 352%, 12M Rtn12 month market price return is 242%
3 High stock price volatility
Vol 12M is 804%
4 Key risks
BRKH key risks include [1] a failure to complete a business combination within the required timeframe, Show more.

Valuation & Metrics

Price Chart

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
BRKH Return-4%6%40%-87%-43%-89%
Peers Return     0%0%
S&P 500 Return27%-19%24%23%16%10%100%

Monthly Win Rates [3]
BRKH Win Rate-58%92%92%33%29% 
Peers Win Rate     80% 
S&P 500 Win Rate75%42%67%75%67%57% 

Max Drawdowns [4]
BRKH Max Drawdown---2%-13%-87%-56% 
Peers Max Drawdown       
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: AACP, ACGC, AESP, ALPX, AMAN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/14/2026 (YTD)

How Low Can It Go

EventBRKHS&P 500
2025 US Tariff Shock
  % Loss-55.2%-18.8%
  % Gain to Breakeven123.4%23.1%
  Time to Breakeven49 days79 days

Compare to AACP, ACGC, AESP, ALPX, AMAN

In The Past

Burtech Acquisition II's stock fell -55.2% during the 2025 US Tariff Shock. Such a loss loss requires a 123.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventBRKHS&P 500
2025 US Tariff Shock
  % Loss-55.2%-18.8%
  % Gain to Breakeven123.4%23.1%
  Time to Breakeven49 days79 days

Compare to AACP, ACGC, AESP, ALPX, AMAN

In The Past

Burtech Acquisition II's stock fell -55.2% during the 2025 US Tariff Shock. Such a loss loss requires a 123.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Burtech Acquisition II (BRKH)

Burtech Acquisition II (BRKH) operates as a Special Purpose Acquisition Company (SPAC), often referred to as a "blank check" company. Unlike typical businesses, Burtech Acquisition II does not currently have any significant operations, products, or services. Its fundamental purpose is to raise capital from investors in order to identify and acquire an existing private company.

The core business of Burtech Acquisition II revolves entirely around executing a business combination. This involves activities such as a merger, capital stock exchange, asset acquisition, or stock purchase, ultimately aiming to bring a private company into the public markets. Essentially, its "service" is providing the vehicle and process for a private entity to become publicly traded.

Burtech Acquisition II is specifically focused on acquiring a business within one of several target markets: the retail, lifestyle, hospitality, technology, and real estate sectors. Therefore, its primary "customers" are the private companies in these industries seeking to access public capital markets, and its investors are those looking to participate in a future combination with such a business.

AI Analysis | Feedback

Here are 1-3 brief analogies for Burtech Acquisition II (BRKH):

  • It's like a publicly traded venture capital fund, but focused on finding just one private company to take public through acquisition.
  • It's like a publicly traded private equity firm, but it's only looking to buy one company to bring it to the stock market.

AI Analysis | Feedback

  • Business Combination Facilitation: The company's primary function is to identify and complete a merger, acquisition, or similar business combination with an operating company.

AI Analysis | Feedback

Burtech Acquisition II (BRKH) is a Special Purpose Acquisition Company (SPAC). Based on the provided description, the company does not have significant operations and its primary focus is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Therefore, Burtech Acquisition II does not have major customers in the traditional sense of selling products or services.

AI Analysis | Feedback

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Shahal Khan, Chief Executive Officer and Director
Shahal Khan is the founder and CEO of Burkhan World Investments and the CEO and Chairman of Trinity Hospitality Group. He previously led BurTech Acquisition, a special purpose acquisition company (SPAC) that went public in 2021 and completed its business combination with edge computing firm Blaize Holdings in 2025.

Roman Livson, Chief Financial Officer and Director
Roman Livson serves as the CFO of Burkhan World and is the President and Director of Panthers Capital Management. He was also involved with the management of BurTech Acquisition, the prior SPAC.

AI Analysis | Feedback

The primary risks to Burtech Acquisition II (BRKH), a special purpose acquisition company (SPAC), revolve around its ability to successfully complete a business combination. As the company does not have significant operations, its value is largely tied to identifying and merging with an operating business.

  1. Failure to complete a business combination within the required timeframe: Burtech Acquisition II faces the risk that it may not complete a business combination by its deadline, or may fail to obtain an extension if needed. Management has expressed substantial doubt about the company's ability to continue as a going concern without a timely business combination within its 15-21 month window.
  2. Inability to identify or successfully complete a suitable target: The company is currently in the pre-revenue phase, actively searching for a merger target. There is a risk that it may not find or successfully negotiate with a suitable business. Furthermore, the successful completion of a business combination is contingent upon satisfying various conditions, including approval by Burtech Acquisition II's stockholders and obtaining necessary governmental and regulatory approvals.
  3. Significant shareholder redemptions: A key risk involves the potential for public shareholders to redeem their shares, which could impact the minimum aggregate transaction proceeds available for the business combination. Substantial redemptions could reduce the capital available to the combined entity or even jeopardize the completion of the merger.

AI Analysis | Feedback

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AI Analysis | Feedback

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AI Analysis | Feedback

Burtech Acquisition II (BRKH) is a special purpose acquisition company (SPAC) that recently completed its initial public offering in May 2026 and does not currently have significant operations. Its future revenue growth is contingent upon successfully completing a business combination with an operating company. Burtech Acquisition II intends to acquire a business operating in the retail, lifestyle, hospitality, technology, or real estate markets. Therefore, the expected drivers of future revenue growth over the next 2-3 years will stem from the operational success of the yet-to-be-identified acquired entity. Based on the target sectors, potential drivers could include:

  1. Expansion of Customer Base and Market Share: For an acquired company in any of Burtech Acquisition II's target sectors (retail, lifestyle, hospitality, technology, or real estate), a primary driver of revenue growth would be successfully increasing its customer base and expanding its market share within its specific industry.
  2. Geographic or Market Segment Expansion: The acquired business could drive revenue growth by expanding into new geographic regions or by targeting underserved market segments, thereby broadening its operational footprint and customer reach.
  3. Development and Launch of New Products or Services: Particularly relevant for technology and lifestyle companies, but also applicable to retail and hospitality, the introduction of innovative new products or services that meet evolving consumer demands could significantly boost revenue.
  4. Strategic Acquisitions and Partnerships: Should the acquired company pursue further strategic mergers, acquisitions, or partnerships, these could unlock new revenue streams, enhance market positioning, and create synergistic growth opportunities.
  5. Leveraging Technological Advancements and Innovation: For a company in the technology sector, or any of the other target industries that can benefit from technological integration, continued innovation, such as adopting AI or enhancing digital platforms, could lead to increased efficiency, new offerings, and expanded revenue.

AI Analysis | Feedback

Share Issuance

  • Burtech Acquisition II completed its initial public offering (IPO) on May 21, 2026, offering 8,000,000 units at $10.00 per unit, which generated gross proceeds of $80,000,000.
  • Each unit in the IPO consists of one Class A ordinary share and one redeemable warrant.
  • The company also conducted a simultaneous private placement of 252,000 units, raising an additional $2,520,000.

Inbound Investments

  • A total of $80,400,000 from the IPO and private placement proceeds was placed into a trust account, specifically earmarked for a future business combination.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

BRKHAACPACGCAESPALPXAMANMedian
NameBurtech .Apogee A.ACP Acqu.Aeon Acq.Alpex Ac.Amanat A. 
Mkt Price9.959.989.979.899.8710.129.96
Mkt Cap0.1-----0.1
Rev LTM-------
Op Inc LTM-------
FCF LTM-------
FCF 3Y Avg-------
CFO LTM-------
CFO 3Y Avg-------

Growth & Margins

BRKHAACPACGCAESPALPXAMANMedian
NameBurtech .Apogee A.ACP Acqu.Aeon Acq.Alpex Ac.Amanat A. 
Rev Chg LTM-------
Rev Chg 3Y Avg-------
Rev Chg Q-------
QoQ Delta Rev Chg LTM-------
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM-------
CFO/Rev 3Y Avg-------
FCF/Rev LTM-------
FCF/Rev 3Y Avg-------

Valuation

BRKHAACPACGCAESPALPXAMANMedian
NameBurtech .Apogee A.ACP Acqu.Aeon Acq.Alpex Ac.Amanat A. 
Mkt Cap0.1-----0.1
P/S-------
P/Op Inc-------
P/EBIT-------
P/E-------
P/CFO-------
Total Yield-------
Dividend Yield0.0%-----0.0%
FCF Yield 3Y Avg-------
D/E0.0-----0.0
Net D/E0.0-----0.0

Returns

BRKHAACPACGCAESPALPXAMANMedian
NameBurtech .Apogee A.ACP Acqu.Aeon Acq.Alpex Ac.Amanat A. 
1M Rtn576.9%-0.1%0.4%0.3%0.3%0.2%0.3%
3M Rtn465.3%0.3%0.4%0.3%0.3%1.1%0.4%
6M Rtn352.3%0.3%0.4%0.3%0.3%1.1%0.4%
12M Rtn241.9%0.3%0.4%0.3%0.3%1.1%0.4%
3Y Rtn-5.0%0.3%0.4%0.3%0.3%1.1%0.3%
1M Excs Rtn544.1%-1.8%-1.6%-1.7%-1.7%-1.6%-1.7%
3M Excs Rtn411.4%-9.2%-9.1%-9.2%-9.2%-8.4%-9.2%
6M Excs Rtn358.8%-8.0%-7.9%-8.0%-8.0%-7.2%-7.9%
12M Excs Rtn233.6%-20.2%-20.1%-20.2%-20.2%-19.4%-20.2%
3Y Excs Rtn-76.8%-71.2%-71.1%-71.2%-71.2%-70.4%-71.2%

Comparison Analyses

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Financials

Price Behavior

Price Behavior
Market Price$9.95 
Market Cap ($ Bil)0.1 
First Trading Date01/31/2022 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$1.74$2.63
DMA Trenddowndown
Distance from DMA470.7%277.9%
 3M1YR
Volatility1,605.2%805.9%
Downside Capture814.71387.29
Upside Capture1333.78451.11
Correlation (SPY)36.5%23.8%
BRKH Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta2.732.954.172.762.550.99
Up Beta0.72-2.391.922.832.220.91
Down Beta4.304.933.740.012.581.29
Up Capture156%236%516%513%344%12%
Bmk +ve Days11244067140429
Stock +ve Days8193157109274
Down Capture338%431%525%261%187%107%
Bmk -ve Days10172358112321
Stock -ve Days11202961133295

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BRKH
BRKH255.9%804.3%0.97-
Sector ETF (XLF)9.0%14.7%0.373.6%
Equity (SPY)21.7%12.6%1.286.2%
Gold (GLD)20.5%27.9%0.657.1%
Commodities (DBC)27.3%18.9%1.144.9%
Real Estate (VNQ)13.0%13.9%0.64-0.3%
Bitcoin (BTCUSD)-47.0%42.7%-1.375.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BRKH
BRKH-0.9%461.8%0.50-
Sector ETF (XLF)10.9%18.6%0.462.0%
Equity (SPY)13.1%17.1%0.593.7%
Gold (GLD)17.2%18.4%0.764.5%
Commodities (DBC)8.6%19.5%0.332.9%
Real Estate (VNQ)2.7%18.9%0.04-0.2%
Bitcoin (BTCUSD)12.8%53.4%0.422.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BRKH
BRKH-0.5%461.8%0.50-
Sector ETF (XLF)13.8%22.1%0.572.0%
Equity (SPY)15.4%17.9%0.733.7%
Gold (GLD)11.2%16.1%0.574.5%
Commodities (DBC)6.3%18.0%0.272.9%
Real Estate (VNQ)5.0%20.7%0.21-0.2%
Bitcoin (BTCUSD)57.3%66.2%0.972.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202606/22/202610-Q
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Report DateFiling DateFiling
03/31/202606/22/202610-Q
Core Cache Last Updated: 7/14/2026