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

Rhea-AI Summary

Maywood Acquisition Corp has announced the pricing of its initial public offering (IPO) of 7,500,000 units at $10.00 per unit, totaling $75 million. The units will begin trading on the Nasdaq Global Market on February 13, 2025, under the symbol 'MAYAU'. Each unit comprises one Class A ordinary share and one right to receive one-fifth of a Class A ordinary share upon completing a business combination.

The company, formed as a blank check company in the Cayman Islands, aims to merge, acquire, or combine with existing businesses. The securities will later trade separately under 'MAYA' (shares) and 'MAYAR' (rights). Cohen & Company Capital Markets leads the offering, with Seaport Global Securities as joint-book-runner. Underwriters have a 45-day option to purchase up to 1,125,000 additional units to cover over-allotments.

Positive

• Successfully raised $75 million through IPO
• Secured listing on Nasdaq Global Market
• Additional potential capital of $11.25 million through over-allotment option

Negative

• No specific business target identified yet
• Blank check structure carries inherent investment risks
• Potential shareholder dilution through rights conversion

Insights

Financial Markets Analyst

This $75 million SPAC IPO enters the market with a conventional structure but several noteworthy elements. The unit composition, featuring a one-fifth share right rather than the more common warrant structure, suggests a more shareholder-friendly approach by reducing potential dilution during the business combination phase.

The offering's size positions it in the small-to-mid-tier SPAC category, which historically has shown better alignment with quality target acquisitions in the $300-750 million enterprise value range. The 15% over-allotment option provides flexibility for market demand while maintaining a manageable trust size.

The Nasdaq Global Market listing offers enhanced liquidity and visibility compared to alternative exchanges, though investors should note that SPAC units will initially trade under 'MAYAU' before separating into shares (MAYA) and rights (MAYAR). This separation typically occurs 52 days after the IPO, creating potential trading opportunities for arbitrage-focused investors.

While the SPAC's leadership under Zikang Wu hasn't specified a target sector, this blank-check structure maintains maximum flexibility for acquisition opportunities. The Cayman Islands incorporation suggests possible interest in cross-border transactions, particularly in Asian markets, though this remains speculative until target identification.

NEW YORK, NY / ACCESS Newswire / February 12, 2025 / Maywood Acquisition Corp. (the "Company") announced today that it priced its initial public offering of 7,500,000 units at $10.00 per unit. The Company's units will be listed on the Nasdaq Global Market ("Nasdaq") and will begin trading tomorrow, February 13, 2025, under the ticker symbol "MAYAU." Each unit consists of one Class A ordinary share and one right entitling its holder to receive one-fifth of one Class A 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 "MAYA" and "MAYAR," 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 is led by its Chairman of the Board and Chief Executive Officer, Zikang Wu.

Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, is acting as the lead book-running manager for the offering and Seaport Global Securities is acting as joint-book-runner for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 1,125,000 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 Cohen & Company Capital Markets, 3 Columbus Circle, 24th Floor, New York, NY 10019, Attention: Prospectus Department, or by email at: capitalmarkets@cohencm.com.

A registration statement relating to these securities was filed with the Securities and Exchange Commission (the "SEC") and was declared effective on February 12, 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," including with respect to the anticipated use of net proceeds. 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. 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:
Investor Relations
ir@maywoodacq.com

SOURCE: Maywood Acquisition Corp.

View the original press release on ACCESS Newswire

FAQ

What is the IPO price and total value of Maywood Acquisition Corp's (MAYA) offering?

Maywood Acquisition Corp's IPO is priced at $10.00 per unit, with 7,500,000 units offered, totaling $75,000,000.

When will Maywood Acquisition Corp (MAYA) begin trading on Nasdaq?

Maywood Acquisition Corp will begin trading on the Nasdaq Global Market on February 13, 2025, initially under the symbol 'MAYAU'.

What does each Maywood Acquisition Corp (MAYA) unit consist of?

Each unit consists of one Class A ordinary share and one right to receive one-fifth of one Class A ordinary share upon completion of a business combination.

What are the separate trading symbols for Maywood Acquisition Corp's shares and rights?

Once securities begin separate trading, the ordinary shares will trade under 'MAYA' and rights under 'MAYAR' on Nasdaq.

What is the over-allotment option in Maywood's (MAYA) IPO?

Underwriters have a 45-day option to purchase up to 1,125,000 additional units at the IPO price to cover over-allotments.