EAST WEST AVE ACQUISITION CORP. ANNOUNCES PRICING OF $100 MILLION INITIAL PUBLIC OFFERING

Rhea-AI Summary

East West Ave Acquisition Corp. (NASDAQ: EWAVU) priced its initial public offering of 10,000,000 units at $10.00 per unit, for gross proceeds of $100 million. The units are expected to begin trading on the Nasdaq Global Market under the symbol “EWAVU” on July 31, 2026.

Each unit consists of one share of common stock and one right to receive one-fourth of one share of common stock upon completion of an initial business combination. Once separately traded, the common stock and rights are expected to list on Nasdaq under “EWAV” and “EWAVR”, respectively. D. Boral Capital is acting as sole book-running manager, and underwriters have a 45-day option to purchase up to 1,500,000 additional units to cover over-allotments. The offering is expected to close on August 3, 2026, subject to customary conditions, following the SEC’s effectiveness of the Form S-1 registration statement on July 13, 2026.

Positive

• IPO size $100 million from 10,000,000 units at $10.00
• Nasdaq Global Market listing for units under symbol “EWAVU” beginning July 31, 2026
• Separate listings planned for common stock “EWAV” and rights “EWAVR” on Nasdaq
• Underwriter overallotment option up to 1,500,000 additional units within 45 days

Negative

• Potential additional 1,500,000 units issuable through underwriters’ over-allotment option, increasing total units outstanding

News Explained

The priced IPO would add 10,000,000 common shares if it closes, reducing existing holders’ percentage ownership; it is expected to close on August 3, 2026, so that dilution is not yet completed.

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NEW YORK, July 31, 2026 (GLOBE NEWSWIRE) -- East West Ave Acquisition Corp. (NASDAQ: EWAVU) (the “Company”) announced the pricing of its initial public offering (the “IPO”) of 10,000,000 units at $10.00 per unit. The units are expected to trade on the Nasdaq Global Market (“Nasdaq”) under “EWAVU” beginning July 31, 2026. Each unit consists of one share of common stock, and one right to receive one-fourth of one share of common stock upon consummation of an initial business combination. Upon separate trading, the common stock and rights are expected to be listed on Nasdaq under "EWAV" and "EWAVR" respectively.

D. Boral Capital LLC is acting as sole book-running manager of the offering. The underwriters have a 45-day option to purchase up to 1,500,000 additional units to cover any over-allotments. The offering is expected to close on August 3, 2026, subject to customary closing conditions.

A registration statement on Form S-1 (File No. 333- 295205) for these securities was declared effective by the SEC on July 13, 2026. The offering is made only by means of a prospectus. Copies of the prospectus may be obtained, from D. Boral Capital LLC, 590 Madison Ave., 39th Floor, New York, New York 10022, by telephone at (212) 970-5150 or by email at dbccapitalmarkets@dboralcapital.com. Copies of the registration statement can also be obtained by visiting EDGAR on the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or to buy, nor shall there be any sale where such offer, solicitation or sale would be unlawful prior to registration or qualification under the applicable securities laws.

About East West Ave Acquisition Corp.

East West Ave Acquisition Corp. is a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company’s target search will not be limited to a particular industry or geographic region.

Forward-Looking Statements

This press release contains “forward-looking statements,” including statements regarding the Company’s IPO. These statements are subject to risks and uncertainties that could cause actual results to differ materially. No assurance can be given that the offering will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, beyond the Company’s control, including those in the Risk Factors section of the Company’s registration statement filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company disclaims any obligation to release publicly updates or revisions to any forward-looking statements to reflect any change in the Company's expectations, except as required by law.

Contact

East West Ave Acquisition Corp.
Molly Huang
Chief Executive Officer
ir@eastwestave.com

FAQ

What are the key terms of the East West Ave Acquisition Corp. (NASDAQ: EWAVU) IPO priced on July 31, 2026?

East West Ave Acquisition Corp. priced 10,000,000 units at $10.00 each, targeting $100 million in gross proceeds. According to the company, each unit includes one common share and a right to receive one-fourth of one common share after a business combination.

When will East West Ave Acquisition Corp. units start trading on Nasdaq under the symbol EWAVU?

The units of East West Ave Acquisition Corp. are expected to begin trading on Nasdaq as “EWAVU” on July 31, 2026. According to the company, the offering is scheduled to close on August 3, 2026, subject to customary closing conditions and Nasdaq listing requirements.

What does each EWAVU IPO unit of East West Ave Acquisition Corp. include for investors?

Each EWAVU unit includes one share of common stock and one right to receive one-fourth of one common share. According to the company, the additional share fraction becomes issuable upon consummation of an initial business combination by East West Ave Acquisition Corp.

What are the future Nasdaq ticker symbols for East West Ave Acquisition Corp. common stock and rights?

According to East West Ave Acquisition Corp., once separate trading begins, the common stock is expected to trade on Nasdaq under “EWAV”, and the rights are expected to trade under “EWAVR”. Initially, both are bundled within the EWAVU units offered in the IPO.

Does East West Ave Acquisition Corp. (EWAVU) have an over-allotment option in its 2026 IPO?

Yes. Underwriters have a 45-day option to purchase up to 1,500,000 additional units to cover over-allotments. According to East West Ave Acquisition Corp., this option could expand the total number of units sold beyond the original 10,000,000 units.

When is the expected closing date of the East West Ave Acquisition Corp. (EWAVU) IPO?

The IPO of East West Ave Acquisition Corp. is expected to close on August 3, 2026, subject to customary closing conditions. According to the company, the SEC declared its Form S-1 registration effective on July 13, 2026, enabling this offering timetable.

How can investors obtain the prospectus for the East West Ave Acquisition Corp. (EWAVU) IPO?

Investors can request the prospectus from D. Boral Capital at 590 Madison Ave, 39th Floor, New York, or by phone and email. According to East West Ave Acquisition Corp., the registration statement is also accessible via the SEC’s EDGAR system at www.sec.gov.