A Paradise Acquisition Corp. Announces Closing of $200 Million Initial Public Offering
Rhea-AI Summary
A Paradise Acquisition Corp. (Nasdaq: APADU), a blank check company, has successfully completed its $200 million initial public offering. The company sold 20 million units at $10.00 per unit, with each unit comprising one Class A ordinary share and one right to receive one-eighth of a Class A ordinary share upon business combination completion.
Trading commenced on July 30, 2025 on the Nasdaq Capital Market under "APADU". The Class A ordinary shares and rights will later trade separately under "APAD" and "APADR". Cohen & Company Capital Markets served as the sole book-runner, with a 45-day option to purchase up to 3 million additional units to cover over-allotments.
Positive
- Successfully raised $200 million through IPO
- Trading commenced on major exchange (Nasdaq)
- 45-day over-allotment option for additional $30 million
- Each unit includes rights offering potential additional value upon business combination
Negative
- No specific target business identified yet
- SPAC investments carry inherent risks of dilution
- Time-limited structure requires completing acquisition within specified period
News Market Reaction
On the day this news was published, APADU declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC acted as the sole book-running manager for the offering.
The Company has granted the underwriter a 45-day option to purchase up to 3,000,000 additional units at the initial public offering price less the underwriting discount to cover over-allotments, if any.
A registration statement on Form S-1 (File No. 333-287505) (the "Registration Statement") relating to the securities to be sold in the initial public offering, as amended, was declared effective by the
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 A Paradise Acquisition Corp.
A Paradise Acquisition 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, recapitalization, reorganization or similar business combination with one or more businesses. A Paradise Acquisition Corp. intends to focus on businesses in the leisure and entertainment sector.
Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the anticipated use of the net proceeds and 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 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. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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SOURCE A Paradise Acquisition Corp.
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