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Southern Cross Acquisition I Corp. (NASDAQ:NCOOU), a Cayman Islands blank check company, closed its initial public offering of 11,500,000 units at $10.00 per unit, including the full exercise of the underwriters' 1,500,000-unit over-allotment option, generating $115,000,000 in gross proceeds before fees.
The units began trading on the Nasdaq Global Market under ticker NCOOU on July 21, 2026. Each unit includes one ordinary share, one redeemable warrant exercisable at $11.50 per share, and one right to receive one-fourth of one ordinary share upon completion of an initial business combination. Following separation, the shares, warrants and rights are expected to trade as NCO, NCOOW and NCOOR, respectively.
Concurrently, the company completed a private placement of 239,300 units at $10.00 per unit for additional gross proceeds of $2,393,000. According to the company, $115,000,000, or $10.00 per public unit, was placed in a trust account. An audited balance sheet as of July 22, 2026 will be filed on Form 8-K with the SEC.
Southern Cross Acquisition I Corp (NASDAQ:NCOOU) 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 "NCOOU" on July 21, 2026.
Each unit comprises one ordinary share, one redeemable warrant and one right to receive one-fourth of one ordinary share upon completion of an initial business combination. Each whole redeemable warrant allows the purchase of one ordinary share at $11.50. Once separated, the securities are expected to trade under "NCO" (shares), "NCOOW" (warrants) and "NCOOR" (rights). D. Boral Capital is sole book-running manager, and underwriters hold a 45-day option to buy up to 1,500,000 additional units. Closing is expected on July 22, 2026, subject to customary conditions.