Stellar V Capital Corp. closed its IPO, raising $150 million, with units trading on Nasdaq under "SVCCU."
Quiver AI Summary
Stellar V Capital Corp., a newly formed special purpose acquisition company based in the Cayman Islands, has successfully closed its initial public offering of 15 million units, priced at $10.00 each, totaling gross proceeds of $150 million. The units began trading on January 30, 2025, on Nasdaq under the ticker symbol "SVCCU" and consist of one Class A ordinary share and a half warrant for shares at $11.50 each. The company, led by co-CEOs Akis Tsirigakis and George Syllantavos, plans to use the proceeds for its initial business combination. The offering was managed by BTIG, LLC, and further details can be found in the SEC prospectus.
Potential Positives
- Successful closing of initial public offering (IPO) raising gross proceeds of $150,000,000, indicating strong investor interest.
- Units began trading on the Nasdaq Global Market, enhancing the company's visibility and credibility in the market.
- Established management team, led by co-CEOs with relevant industry experience, which may attract potential investors and partners.
Potential Negatives
- The company is a newly organized special purpose acquisition company (SPAC), which can indicate a lack of established operations and a potentially higher risk profile for investors.
- The emphasis on forward-looking statements suggests uncertainty regarding the use of proceeds and the company’s ability to successfully complete an initial business combination, which could lead to investor skepticism.
- The issuance of only whole warrants and no fractional warrants may limit access for some investors who prefer smaller investment amounts, potentially reducing overall demand for the offering.
FAQ
What is Stellar V Capital Corp.?
Stellar V Capital Corp. is a special purpose acquisition company (SPAC) formed to pursue business combinations.
When did Stellar V Capital's IPO close?
The initial public offering of Stellar V Capital Corp. closed on January 31, 2025.
What ticker symbol does Stellar V Capital trade under?
Stellar V Capital's units began trading under the ticker symbol "SVCCU" on Nasdaq.
How much capital did Stellar V Capital raise?
The company raised gross proceeds of $150,000,000 from its initial public offering.
What are the main components of the units issued?
Each unit consists of one Class A ordinary share and one-half of a redeemable warrant.
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, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Stellar V Capital Corp. (the “Company”), a newly organized special purpose acquisition company formed as a Cayman Islands exempted company, today announced the closing of its initial public offering of 15,000,000 units. The offering was priced at $10.00 per unit, resulting in gross proceeds of $150,000,000.
The Company’s units began trading on January 30, 2025 on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “SVCCU.” Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at $11.50 per share. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and the warrants will be traded on Nasdaq under the symbols “SVCC” and “SVCCW,” respectively.
The Company’s management team is led by co-CEOs Prokopios (Akis) Tsirigakis and George Syllantavos who are also the Company’s directors. In addition, the Company’s board includes Nicolas Bornozis, Christopher Thomas and Harry Braunstein.
The Company intends to use the net proceeds from the offering, and the simultaneous private placements of units and warrants, to consummate the Company’s initial business combination.
BTIG, LLC acted as sole book-running manager for the offering.
The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from BTIG, LLC, 65 East 55th Street New York, New York 10022, or by email at [email protected] or by accessing the Securities and Exchange Commission (“SEC”)’s website, www.sec.gov.
A registration statement relating to the securities has been filed with, and declared effective by the SEC. 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.
About Stellar V Capital Corp.
Stellar V Capital Corp. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds thereof and the Company’s search for an initial business combination. No assurance can be given that the net proceeds of the offering will be used as indicated. 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 Company’s registration statement and prospectus for the IPO filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contacts: | ||
Anastasios (Tassos) Chrysostomidis
Vice President of Business Development Stellar V Capital Corp. www.stellaracquisition.com Email: [email protected] |
Daniela Guerrero
Investor Relations/Media Capital Link, Inc. 230 Park Avenue, Suite 1540 New York, N.Y. 10169 Tel.: (212) 661-7566 Email: [email protected] |
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