Southern Cross Acquisition II Closes $76.5 Million IPO on Nasdaq

Southern Cross Acquisition II Corp., a special purpose acquisition company (SPAC), announced it has closed its initial public offering, raising gross proceeds of $76.5 million. The company's units began trading on the Nasdaq Capital Market on August 26, 2026, under the ticker symbol "SCATU."

Offering Details

The IPO consisted of the sale of 7,652,630 units at a price of $10.00 per unit, according to a company press release. This total includes the partial exercise of an option for underwriters to purchase an additional 152,630 units to cover over-allotments.

Each unit is composed of:

• One ordinary share
• One redeemable warrant
• One right to receive one-fourth of one ordinary share upon the completion of an initial business combination

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The redeemable warrants have an exercise price of $11.50 per share. Once the securities begin trading separately, the ordinary shares, warrants, and rights are expected to be listed on Nasdaq under the symbols "SCAT," "SCATW," and "SCATR," respectively.

Financial Structure and Background

Concurrent with the IPO, Southern Cross Acquisition II completed a private placement of 224,932 units at $10.00 per unit, generating an additional $2.25 million in gross proceeds. From the combined net proceeds of the IPO and private placement, approximately $76.7 million, or $10.025 per public unit, was placed into the company's trust account.

Southern Cross Acquisition II is a Cayman Islands-incorporated blank-check company formed for the purpose of a merger, asset acquisition, or other business combination. The company has stated it has not limited its search to a specific industry or geographic region. D. Boral Capital LLC acted as the sole book-running manager for the offering.