Shepherd Ave Capital Acquisition Corporation Announces the Pricing of its $75 Million Initial Public Offering
Shepherd Ave Capital Acquisition (NASDAQ: SPHAU) has announced the pricing of its initial public offering, offering 7,500,000 units at $10.00 per unit, raising aggregate gross proceeds of $75,000,000. Each unit includes one Class A ordinary share and one right, with each whole right convertible to one-fifth of a Class A Ordinary Share upon business combination completion.
Trading will commence on Nasdaq Global Market under the symbol 'SPHAU'. The Class A Ordinary Shares and Rights will later trade separately under 'SPHA' and 'SPHAR'. The company granted underwriters a 45-day option to purchase up to 1,125,000 additional units to cover over-allotments. SPAC Advisory Partners is serving as the sole book running manager.
Shepherd Ave Capital Acquisition (NASDAQ: SPHAU) ha annunciato il prezzo della sua offerta pubblica iniziale, offrendo 7.500.000 unit脿 a 10,00 $ per unit脿, raccogliendo proventi lordi complessivi di 75.000.000 $. Ogni unit脿 include un'azione ordinaria di Classe A e un diritto, con ogni diritto intero convertibile in un quinto di un'azione ordinaria di Classe A al termine della combinazione aziendale.
Le contrattazioni avranno inizio sul Nasdaq Global Market con il simbolo 'SPHAU'. Le azioni ordinarie di Classe A e i diritti verranno successivamente scambiati separatamente con i simboli 'SPHA' e 'SPHAR'. L'azienda ha concesso ai sottoscrittori un'opzione di 45 giorni per acquistare fino a 1.125.000 unit脿 aggiuntive per coprire eventuali sovrallocazioni. SPAC Advisory Partners funge da unico manager per la gestione dei libri.
Shepherd Ave Capital Acquisition (NASDAQ: SPHAU) ha anunciado el precio de su oferta p煤blica inicial, ofreciendo 7,500,000 unidades a 10.00 $ por unidad, recaudando un total de 75,000,000 $. Cada unidad incluye una acci贸n ordinaria de Clase A y un derecho, con cada derecho entero convertible en un quinto de una acci贸n ordinaria de Clase A al completarse la combinaci贸n empresarial.
Las operaciones comenzar谩n en el Nasdaq Global Market bajo el s铆mbolo 'SPHAU'. Las acciones ordinarias de Clase A y los derechos se negociar谩n por separado bajo 'SPHA' y 'SPHAR'. La compa帽铆a otorg贸 a los suscriptores una opci贸n de 45 d铆as para comprar hasta 1,125,000 unidades adicionales para cubrir sobreasignaciones. SPAC Advisory Partners act煤a como el 煤nico gerente de libros.
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瓯半灅電 'SPHAU'鞚措澕電 旮绊樃 鞎勲灅 Nasdaq Global Market鞐愳劀 鞁滌瀾霅╇媹雼. 韥措灅鞀 A 氤错喌欤检檧 甓岆Μ電 雮橃鞐 'SPHA'鞕 'SPHAR'搿 氤勲弰搿 瓯半灅霅╇媹雼. 須岇偓電 鞏鸽崝霛检澊韯办棎瓴 齑堦臣 氚办爼 攵勳潉 於╇嫻頃橁赴 鞙勴暣 112毵 5觳 臧滌潣 於旉皜 雼渼毳 甑Г頃 靾 鞛堧姅 45鞚 鞓奠厴鞚 攵鞐枅鞀惦媹雼. SPAC Advisory Partners臧 雼弲 攵 甏毽瀽搿 頇滊彊頃橁碃 鞛堨姷雼堧嫟.
Shepherd Ave Capital Acquisition (NASDAQ: SPHAU) a annonc茅 le prix de son introduction en bourse, proposant 7 500 000 unit茅s 脿 10,00 $ par unit茅, levant un produit brut total de 75 000 000 $. Chaque unit茅 comprend une action ordinaire de classe A et un droit, chaque droit entier 茅tant convertible en un cinqui猫me d'une action ordinaire de classe A lors de la r茅alisation de la combinaison d'entreprises.
Les 茅changes commenceront sur le Nasdaq Global Market sous le symbole 'SPHAU'. Les actions ordinaires de classe A et les droits seront ensuite 茅chang茅s s茅par茅ment sous 'SPHA' et 'SPHAR'. La soci茅t茅 a accord茅 aux souscripteurs une option de 45 jours pour acheter jusqu'脿 1 125 000 unit茅s suppl茅mentaires pour couvrir les surallocations. SPAC Advisory Partners agit en tant que gestionnaire principal des livres.
Shepherd Ave Capital Acquisition (NASDAQ: SPHAU) hat den Preis f眉r sein 枚ffentliches Angebot bekannt gegeben und bietet 7.500.000 Einheiten zu je 10,00 $ pro Einheit an, was zu einem Gesamterl枚s von 75.000.000 $ f眉hrt. Jede Einheit umfasst eine Stammaktie der Klasse A und ein Recht, wobei jedes gesamte Recht in ein F眉nftel einer Klasse A Stammaktie bei Abschluss der Unternehmenszusammenf眉hrung umgewandelt werden kann.
Der Handel beginnt an der Nasdaq Global Market unter dem Symbol 'SPHAU'. Die Stammaktien der Klasse A und die Rechte werden sp盲ter separat unter 'SPHA' und 'SPHAR' gehandelt. Das Unternehmen hat den Underwritern eine 45-t盲gige Option einger盲umt, bis zu 1.125.000 zus盲tzliche Einheiten zu kaufen, um 脺berzeichnungsoptionen abzudecken. SPAC Advisory Partners fungiert als alleiniger Buchf眉hrungsmanager.
- Successfully priced IPO raising $75 million in gross proceeds
- Listing on major exchange (Nasdaq Global Market)
- 45-day over-allotment option for additional 1,125,000 units could increase total proceeds
- Dilutive effect of rights conversion (1/5 share per right)
- No defined business combination target yet as a SPAC
Insights
This SPAC IPO represents a notable development in the current market environment. The
The deal structure includes an over-allotment option for an additional
The involvement of Kingswood Capital Partners' SPAC Advisory Partners as the sole book-runner suggests a more focused distribution approach compared to larger SPAC offerings that typically involve multiple underwriters. The timing of this IPO amid current market conditions demonstrates continued appetite for SPAC vehicles despite the overall cooling in the SPAC market.
Wilmington, DE, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Shepherd Ave Capital Acquisition Corporation (NASDAQ: SPHAU) (鈥淪PHA鈥 or the 鈥淐ompany鈥) announced today the pricing of its initial public offering of 7,500,000 units at a price of
The units will be listed on the Nasdaq Global Market LLC (鈥淣asdaq鈥) and begin trading tomorrow under the ticker symbol 鈥淪PHAU.鈥 Each unit consists of one of the Company鈥檚 Class A ordinary shares (the 鈥淐lass A Ordinary Shares鈥) and one right (the 鈥淩ights鈥), with each whole right entitling the holder thereof to receive one-fifth (1/5) of one Class A Ordinary Share upon the consummation of an initial business combination. No fractional rights will be issued upon separation of the units and only whole rights will trade. Once the securities comprising the units begin separate trading, the Class A Ordinary Shares and Rights are expected to be listed on the Nasdaq under the symbols 鈥淪PHA鈥 and 鈥淪PHAR,鈥 respectively. The offering is expected to close Friday, December 6, 2024, subject to customary closing conditions. SPHA has granted the underwriters a 45-day option to purchase up to an additional 1,125,000 units, at the initial public offering price to cover over-allotments, if any.
SPAC Advisory Partners LLC (鈥淪AP鈥), a division of Kingswood Capital Partners, LLC, is acting as the sole book running manager for the initial public offering.
A registration statement related to these securities has been filed on Form S-1 with the Securities and Exchange Commission and became effective on December 2, 2024 (File No. 333-280986). The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, by contacting Kingswood Capital Partners, LLC, 126 East 56th Street, Suite 22S, New York, NY 10022, or by calling 212-487-1080 or emailing聽.聽This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Shepherd Ave Capital Acquisition Corporation
SPHA is a newly incorporated, blank check company formed in the Cayman Islands for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. While the Company may pursue an initial business combination target in any business or industry, it intends to identify companies with strong management team, niche deal size with growth potential, long-term revenue visibility with defensible market position, and benefits from being a U.S. public company. The sponsor of the Company is Aitefund Sponsor LLC.
Forward-Looking Statements
This press release includes forward-looking statements. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including the successful consummation of the Company鈥檚 initial public offering, are subject to risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the 鈥淩isk Factors鈥 section of the Company鈥檚 registration statement and preliminary prospectus for the offering filed with the SEC, any of which could cause actual results to differ from such forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company鈥檚 expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as required by law.
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Company contact:
William W. Snyder, CEO
221 W 9th St, #859
Wilmington, DE 19801
FAQ
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