Charlton Aria Acquisition Corp. Announces Pricing of $75,000,000 Initial Public Offering

Rhea-AI Summary

Charlton Aria Acquisition (Nasdaq: CHARU) has announced the pricing of its initial public offering of 7,500,000 units at $10.00 per unit, totaling $75,000,000. Each unit includes one Class A ordinary share and one right to receive one-eighth of one Class A ordinary share. The units will trade on Nasdaq under 'CHARU', while the separated securities will trade as 'CHAR' and 'CHARR'. The underwriter has a 45-day option to purchase up to 1,125,000 additional units. The company is a blank check company seeking business combinations, with Clear Street acting as the sole book-running manager.

Positive

• Successfully priced IPO raising $75 million
• Listing on major exchange (Nasdaq Global Market)
• Additional potential capital of $11.25 million through over-allotment option

Negative

• Blank check company with no current operating business
• No specific target business identified for acquisition
• Investor uncertainty due to undefined acquisition strategy

Insights

Financial Analyst

This SPAC IPO brings $75 million in fresh capital to the market, with potential for an additional $11.25 million through over-allotment. The standard $10 unit price and 1/8 warrant structure follows typical SPAC patterns, though the right structure instead of traditional warrants is noteworthy. While the broad target focus provides flexibility, it also means higher uncertainty for investors. The lack of a specific industry focus and reliance on management's network for deal sourcing puts additional emphasis on due diligence of the management team's track record. The timing is interesting given the challenging SPAC market conditions, suggesting potential opportunities in the current market environment.

Wilmington, DE, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Charlton Aria Acquisition Corporation (Nasdaq: CHARU) (the “Company”) announced today the pricing of its initial public offering of 7,500,000 units at $10.00 per unit. The units are expected to be listed on the Nasdaq Global Market (“Nasdaq”) and trade under the ticker symbol “CHARU” beginning October 24, 2024. Each unit consists of one Class A ordinary share and one right to receive one-eighth 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 “CHAR” and “CHARR”, respectively. The underwriter has been granted a 45-day option to purchase up to an additional 1,125,000 units offered by the Company to cover over-allotments, if any. The offering is expected to close on October 25, 2024, subject to customary closing conditions.

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 that complement the management team’s and board of director’s background and network, and to capitalize on the ability of its management team and board of directors to identify and acquire a business.

Clear Street is acting as the sole book-running manager in the offering.

A registration statement on Form S-1 (333-282313) relating to these securities has been filed with the Securities and Exchange Commission (“SEC”), and was declared effective on October 24, 2024. The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from Clear Street, Attn: Syndicate Department, 150 Greenwich Street, 45th floor, New York, NY 10007, by email at ecm@clearstreet.io, 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 preliminary 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:
Charlton Aria Acquisition Corp.

Mr. Robert W. Garner
Chairman, Chief Executive Officer, and Director
221 W 9th St #848
Wilmington, DE 19801
Email: ceo@charltonaria.com

FAQ

What is the IPO price for Charlton Aria Acquisition Corp (CHARU) units?

Charlton Aria Acquisition Corp's units are priced at $10.00 per unit in its initial public offering.

How many units is CHARU offering in its IPO?

CHARU is offering 7,500,000 units, with an additional over-allotment option of 1,125,000 units.

What do CHARU's IPO units consist of?

Each unit consists of one Class A ordinary share and one right to receive one-eighth of one Class A ordinary share.

When will CHARU begin trading on Nasdaq?

CHARU units are expected to begin trading on Nasdaq Global Market on October 24, 2024.