Indigo Acquisition Corp. Announces Pricing of $100,000,000 Initial Public Offering
Rhea-AI Summary
Indigo Acquisition Corp. (NASDAQ:INACU) has announced the pricing of its initial public offering of 10,000,000 units at $10.00 per unit, totaling $100,000,000. The units will begin trading on the Nasdaq Global Market on July 1, 2025, under the symbol "INACU".
Each unit comprises one ordinary share and one right to receive one-tenth of an ordinary share upon completing an initial business combination. The ordinary shares and rights will later trade separately under the symbols "INAC" and "INACR" respectively.
The blank check company, led by Chairman and CEO James S. Cassel and CFO Scott Salpeter, aims to merge with established, profitable businesses. EarlyBirdCapital, Inc. serves as the book-running manager, with IB Capital as co-manager. The underwriters have a 45-day option to purchase up to 1,500,000 additional units to cover over-allotments.
Positive
- None.
Negative
- No specific target business identified yet
- Investment carries inherent blank check company risks
- Shareholders face potential dilution from rights conversion
Insights
Indigo Acquisition Corp. launches a $100M SPAC IPO with experienced leadership targeting established, profitable companies for acquisition.
Indigo Acquisition Corp. has priced its IPO at
This SPAC (Special Purpose Acquisition Company) is structured as a Cayman Islands exempt company - a common jurisdiction choice for SPACs seeking tax efficiency. The company has granted underwriters a 45-day option to purchase up to 1.5 million additional units to cover potential over-allotments, which could increase total proceeds by
The management team is led by James S. Cassel (Chairman/CEO) and Scott Salpeter (COO/CFO), both appearing to have investment banking backgrounds based on their email domains. Their targeting strategy focuses on "established, profitable companies with attractive market positions and/or growth potential" - a more conservative approach than SPACs seeking pre-revenue or speculative businesses.
EarlyBirdCapital is serving as the book-runner with IB Capital as co-manager. The deal represents a mid-sized SPAC offering in today's market, where the average SPAC typically raises between
NEW YORK, June 30, 2025 (GLOBE NEWSWIRE) -- Indigo Acquisition Corp. (the “Company”) announced today that it priced its initial public offering of 10,000,000 units at
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.
EarlyBirdCapital, Inc. is acting as the book-running manager for the offering and IB Capital is acting 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 offering discussed above will be completed on the terms described, or at all, or 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
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