Harvard Ave Acquisition Corporation closed its IPO, raising $145 million, with units now trading on Nasdaq under HAVAU.
Quiver AI Summary
Harvard Ave Acquisition Corporation has successfully closed its initial public offering, raising approximately $145 million by selling 14,500,000 units at $10.00 each. These units began trading on the Nasdaq under the ticker symbol "HAVAU" on October 23, 2025. Each unit comprises one Class A ordinary share and a right to receive a fraction of a share. The company, incorporated in the Cayman Islands, plans to pursue business combinations with various entities, focusing on sectors that align with its management team’s expertise. D. Boral Capital LLC acted as the sole book-running manager for the offering, and legal counsel was provided by Robinson & Cole LLP and Winston & Strawn LLP. The press release includes forward-looking statements that involve risks and uncertainties, and a registration statement related to the offering has been filed with the SEC.
Potential Positives
- Harvard Ave Acquisition Corporation successfully closed its initial public offering, raising $145 million, which provides significant capital for future business acquisitions.
- The units began trading on the Nasdaq Global Market under the ticker symbol “HAVAU,” enhancing the company’s visibility and credibility in the financial markets.
- The company plans to pursue acquisition opportunities across various sectors, suggesting a flexible business strategy that could lead to diverse growth opportunities.
Potential Negatives
- The company is a blank check company, which may lead to concerns about lack of transparency and potential risks associated with identifying a suitable merger or acquisition target.
- The reliance on forward-looking statements introduces uncertainty, as actual results may significantly differ from projections, and the company has disclaimed any obligation to update these statements.
- The press release does not provide detailed information about the company's strategy or potential acquisition targets, which may leave investors with concerns about its direction and management's capability to execute successfully.
FAQ
What is Harvard Ave Acquisition Corporation's IPO date?
Harvard Ave Acquisition Corporation's initial public offering (IPO) was dated October 23, 2025.
How much did Harvard Ave Acquisition Corporation raise in its IPO?
The company raised $145 million in gross proceeds from its IPO.
What do the units in the IPO consist of?
Each unit consists of one Class A ordinary share and one right to receive one-tenth of one Class A ordinary share.
What is the ticker symbol for Harvard Ave's units?
The units are listed on the Nasdaq under the ticker symbol "HAVAU".
Who managed the Harvard Ave Acquisition Corporation IPO?
D. Boral Capital LLC acted as the sole book-running manager for the offering.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
New York, NY, Oct. 24, 2025 (GLOBE NEWSWIRE) -- Harvard Ave Acquisition Corporation (Nasdaq: HAVAU) (the “ Company ”) announced today the closing of its initial public offering of 14,500,000 units at $10.00 per unit. The gross proceeds from the offering were $145 million before deducting underwriting discounts and estimated offering expenses. The units were listed on the Nasdaq Global Market (“ Nasdaq ”) and began trading under the ticker symbol “HAVAU” on October 23, 2025. Each unit consists of one Class A ordinary share and one right to receive one-tenth of one Class A ordinary share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on Nasdaq under the symbols “HAVA” and “HAVAR”, respectively.
The Company is a blank check company incorporated as an exempted company under the laws of the Cayman Islands, which will seek to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. While it may pursue an acquisition opportunity in any business, industry, sector or geographical location, it intends to focus on industries or sectors that complement the management team’s background.
D. Boral Capital LLC acted as the sole book-running manager in the offering.
Robinson & Cole LLP served as legal counsel to the Company. Winston & Strawn LLP served as legal counsel to D. Boral Capital LLC.
A registration statement on Form S-1 (333-284826) relating to these securities has been filed with the Securities and Exchange Commission (“SEC”), and was declared effective on September 30, 2025. The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from D. Boral Capital LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, by telephone at +1 (212) 970-5150, by email at [email protected] , or from the SEC website at www.sec.gov .
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the 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's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the registration statement and related prospectus filed in connection with the initial public offering with the SEC. Copies are available on the SEC’s website, www.sec.gov .
Contact Information:
Harvard Ave Acquisition Corporation
Sung Hyuk Lee
Chief Executive Officer
3
rd
Floor, 166 Yeongsin-ro
Yeongdengpo-gu, Seoul, 07362
Email:
[email protected]
