Lake Superior Acquisition Corp. Announces Closing of $115 Million Initial Public Offering, Including Full Exercise of Overallotment Option

Rhea-AI Summary

Lake Superior Acquisition Corp (NASDAQ: LKSPU) closed its initial public offering of 11,500,000 units at $10.00 per unit on October 8, 2025, including full exercise of the underwriters' overallotment option.

$115,000,000 of proceeds (equivalent to $10.00 per public unit) were placed in the company's trust account. Each unit comprises one Class A ordinary share and one-seventh of a right; whole rights convert to one Class A share upon consummation of an initial business combination. Units began trading on Nasdaq under LKSPU on October 7, 2025; separate trading for Class A shares and rights will use LKSP and LKSPR.

Positive

• Offering size: 11,500,000 units at $10.00 per unit
• $115,000,000 placed in trust account
• Underwriters' over-allotment fully exercised
• Units began trading on Nasdaq on Oct 7, 2025 under LKSPU

Negative

• None.

NEW YORK, Oct. 8, 2025 /PRNewswire/ -- Lake Superior Acquisition Corp. (the "Company") today announced the closing of its initial public offering of 11,500,000 units, which included the full exercise of the underwriters' over-allotment option, at an offering price of $10.00 per unit, with each unit consisting of one Class A ordinary share and one-seventh (1/7) of one right. Each whole right entitles the holder to receive one Class A ordinary share upon consummation of the Company's initial business combination.

The units began trading on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "LKSPU" on October 7, 2025. Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights will be traded on Nasdaq under the symbols "LKSP" and "LKSPR," respectively.

Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units, $115,000,000 (or $10.00 per unit sold in the public offering) was placed in the Company's trust account.

Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC ("CCM"), acted as the sole book-running manager for the offering. Loeb & Loeb LLP served as legal advisor to the Company. Morgan, Lewis & Bockius LLP served as legal advisor to CCM.

A registration statement on Form S-1, as amended (File No. 333-287114) (the "Registration Statement") relating to these securities  was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on September 30, 2025. The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to this offering may be obtained by contacting Cohen & Company Capital Markets, 3 Columbus Circle, 24th Floor, New York, NY 10019, Attention: Prospectus Department, or by email at: capitalmarkets@cohencm.com, 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.

About Lake Superior Acquisition Corp.

Lake Superior 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, stock purchase, reorganization or similar business combination with one or more businesses. The company is lead by Edward Cong Wang its CEO and Chairman.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering, the anticipated use of the net proceeds and the search for an initial business combination. No assurance can be given that the net proceeds of the offering will be used as indicated or that the Company will consummate an initial business combination. 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 Lake Superior Acqusition Corp.

FAQ

How many units did Lake Superior Acquisition Corp sell in the IPO and at what price (LKSPU)?

Lake Superior sold 11,500,000 units at $10.00 per unit, totaling $115,000,000.

What amount was placed in Lake Superior Acquisition Corp's trust account after the IPO (LKSPU)?

$115,000,000 was placed in the company's trust account.

When did Lake Superior Acquisition Corp begin trading on Nasdaq and under which ticker (LKSPU)?

Units began trading on the Nasdaq Global Market on October 7, 2025 under the ticker LKSPU.

What does each Lake Superior unit include and how do rights convert (LKSPU)?

Each unit includes one Class A ordinary share and one-seventh of a right; a whole right converts to one Class A share upon the company's initial business combination.

Who acted as book-running manager for Lake Superior's IPO (LKSPU)?

Cohen & Company Capital Markets acted as the sole book-running manager.

Where can investors obtain the prospectus or registration details for LKSPU?

Copies of the prospectus can be requested from Cohen & Company Capital Markets or accessed on the SEC website at www.sec.gov.