SPAC Southern Cross Acquisition I Corp. Prices $100 Million IPO on Nasdaq

Southern Cross Acquisition I Corp. (NCOOU), a special purpose acquisition company (SPAC), announced it has priced its initial public offering of 10 million units at $10.00 each, raising gross proceeds of $100 million. The units began trading on the Nasdaq Global Market on July 21, 2026, under the ticker symbol "NCOOU," according to a company press release.

Offering Details

Each unit sold in the offering consists of one ordinary share, one redeemable warrant, and one right to receive one-fourth of one ordinary share upon the completion of an initial business combination. The structure of the offering includes several key components for investors:

• Warrants: Each whole redeemable warrant entitles the holder to purchase one ordinary share at an exercise price of $11.50 per share.
• Separation: Once the securities comprising the units begin separate trading, the ordinary shares, warrants, and rights are expected to be listed on Nasdaq under the symbols "NCO," "NCOOW," and "NCOOR," respectively.

The offering, managed by D. Boral Capital LLC as the sole book-running manager, was expected to close on July 22, 2026, pending customary closing conditions. Underwriters have a 45-day option to purchase up to an additional 1,500,000 units to cover any over-allotments.

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Company Strategy

Southern Cross Acquisition is a "blank check" company formed for the purpose of effecting a merger, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. According to the company, it has not specified any particular industry or geographic region for its potential acquisition target.

This broad mandate gives the management team flexibility in seeking a suitable company to take public through a de-SPAC transaction. The proceeds from the IPO will be held in a trust account until the company identifies and completes a merger.