Southern Cross Acquisition I Corp. Announces Pricing of $100 Million Initial Public Offering
Rhea-AI Summary
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.
Positive
- $100 million gross IPO size from 10,000,000 units at $10.00
- Underwriters granted 45-day over-allotment option for up to 1,500,000 units
Negative
- None.
News Explained
The Form S-1 became effective on
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NEW YORK CITY, NY / ACCESS Newswire / July 20, 2026 / Southern Cross Acquisition I Corp. (NASDAQ:NCOOU) ("NCO") announced the pricing of its initial public offering (the "IPO") of 10,000,000 units at
D. Boral Capital LLC is acting as sole book-running manager of the offering. The underwriters have a 45-day option to purchase up to 1,500,000 additional units to cover any over-allotments.
The offering is expected to close on July 22, 2026, subject to customary closing conditions.
A registration statement on Form S-1 (File No. 333-296723) for these securities has been filed with the U.S. Securities and Exchange Commission (the "SEC") and was declared effective by the SEC on July 20, 2026. The offering is made only by means of a prospectus. Copies of the prospectus may be obtained from D. Boral Capital LLC, 590 Madison Ave., 39th Floor, New York, New York 10022, by telephone at (212) 970-5150 or by email at dbccapitalmarkets@dboralcapital.com. Copies of the registration statement can also be obtained by visiting EDGAR on the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or to buy, nor shall there be any sale where such offer, solicitation or sale would be unlawful prior to registration or qualification under the applicable securities laws.
About Southern Cross Acquisition I Corp.
NCO is a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. NCO's target search will not be limited to a particular industry or geographic region.
Forward-Looking Statements
This press release contains "forward-looking statements," including statements regarding NCO's IPO. These statements are subject to risks and uncertainties that could cause actual results to differ materially. No assurance can be given that the offering will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, beyond NCO's control, including those in the Risk Factors section of NCO's registration statement filed with the SEC. Copies are available on the SEC's website, www.sec.gov. NCO disclaims any obligation to release publicly updates or revisions to any forward-looking statements to reflect any change in NCO's expectations, except as required by law.
Contact
Southern Cross Acquisition I Corp.
Ally Tong Zhang
Chief Executive Officer
allyzhang@southerncross.cc
SOURCE: Southern Cross Acquisition I Corp.
View the original press release on ACCESS Newswire