Indigo Acquisition Corp. Announces Closing of $100,000,000 Initial Public Offering

Rhea-AI Summary

Indigo Acquisition Corp. (NASDAQ:INACU) has successfully completed its $100 million initial public offering, selling 10,000,000 units at $10.00 per unit. Each unit comprises one ordinary share and one right to receive one-tenth of an ordinary share upon completing a business combination.

The SPAC, led by Chairman and CEO James S. Cassel and CFO Scott Salpeter, aims to merge with established, profitable businesses. The company's ordinary shares and rights will trade separately under symbols INAC and INACR. EarlyBirdCapital served as the book-running manager, with IB Capital as co-manager. The underwriters have a 45-day option to purchase up to 1.5 million additional units.

Positive

• Full $100 million IPO proceeds placed in trust account
• 45-day over-allotment option for additional 1.5 million units
• Management team with established experience targeting profitable businesses
• Listing on major exchange (Nasdaq Global Market)

Negative

• No specific target business identified yet
• Investment subject to SPAC merger completion risk
• Potential shareholder dilution from rights conversion

News Market Reaction

+0.15%

1 alert

+0.15% News Effect

On the day this news was published, INACU gained 0.15%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, July 02, 2025 (GLOBE NEWSWIRE) -- Indigo Acquisition Corp. (the “Company”) announced today that it closed its initial public offering of 10,000,000 units at $10.00 per unit. The offering resulted in gross proceeds to the Company of $100,000,000.

The Company’s units are listed on the Nasdaq Global Market (“Nasdaq”) and trade under the ticker symbol “INACU.” Each unit consists of one ordinary share and one right entitling its holder to receive one tenth of one ordinary share upon the Company’s completion of an initial business combination, subject to adjustment. Once the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on Nasdaq under the symbols “INAC” and “INACR,” respectively.

The Company is a Cayman exempt company, formed as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Company intends to focus on opportunities with established, profitable companies with attractive market positions and/or growth potential that can leverage our management team’s experience and expertise. The Company is led by its Chairman of the Board and Chief Executive Officer, James S. Cassel, and its Chief Operating Officer and Chief Financial Officer, Scott Salpeter.

Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units, $100,000,000 was placed in trust.

EarlyBirdCapital, Inc. acted as the book-running manager for the offering and IB Capital acted as co-manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 1,500,000 units at the initial public offering price to cover over-allotments, if any. The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from EarlyBirdCapital, Inc., 366 Madison Avenue, New York, New York 10017, Attention: Syndicate Department, or (212) 661-0200.

A registration statement relating to these securities was filed with the Securities and Exchange Commission (the “SEC”) and was declared effective on June 30, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an 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 contains statements that constitute “forward-looking statements.” No assurance can be given that the net proceeds of the offering will be used as indicated in the offering prospectus. 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 Company’s registration statement and preliminary prospectus for the offering filed 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.

Contact:

James S. Cassel, CEO
jcassel@cs-ib.com
305-438-7700

Scott Salpeter, CFO
ssalpeter@cs-ib.com
305-438-7700

FAQ

How much did Indigo Acquisition Corp (INACU) raise in its IPO?

Indigo Acquisition Corp raised $100 million in gross proceeds through its IPO, selling 10,000,000 units at $10.00 per unit.

What is included in each INACU unit?

Each unit consists of one ordinary share and one right that entitles the holder to receive one-tenth of an ordinary share upon completion of a business combination.

What are the trading symbols for Indigo Acquisition Corp?

The units currently trade as INACU on Nasdaq. After separation, the ordinary shares and rights will trade under symbols INAC and INACR respectively.

Who leads Indigo Acquisition Corp?

The company is led by James S. Cassel as Chairman and CEO, and Scott Salpeter as Chief Operating Officer and CFO.

What type of companies is INACU targeting for acquisition?

INACU is targeting established, profitable companies with attractive market positions and growth potential that can leverage the management team's experience.