Origin Investment Corp I Announces Closing of $60,000,000 Initial Public Offering

Rhea-AI Summary

Origin Investment Corp I (NASDAQ:ORIQU) has successfully completed its initial public offering (IPO) of 6,000,000 units at $10.00 per unit, raising a total of $60 million. Each unit consists of one ordinary share and one-half of one redeemable warrant.

The units began trading on the Nasdaq Global Market on July 2, 2025, under the symbol "ORIQU". Once separated, the ordinary shares and warrants will trade under "ORIQ" and "ORIQW" respectively. Each whole warrant allows the purchase of one ordinary share at $11.50. ThinkEquity served as the sole book-running manager, with a 45-day over-allotment option for an additional 900,000 units.

Positive

• Successfully raised $60 million through IPO
• Listed on major exchange (Nasdaq Global Market)
• 45-day over-allotment option for additional $9 million
• Warrant structure provides potential upside for investors at $11.50 per share

Negative

• No specific business target identified yet
• SPAC structure carries inherent risks of not finding suitable acquisition target
• Warrants may cause future dilution for shareholders

Insights

SPAC Investment Specialist

Origin Investment Corp I successfully completed its $60M IPO as a new SPAC seeking acquisition targets, with units now trading on Nasdaq.

Origin Investment Corp I has successfully closed its $60 million initial public offering, selling 6 million units at $10.00 each on the Nasdaq Global Market. As a newly formed special purpose acquisition company (SPAC), Origin has created a typical SPAC structure where each unit contains one ordinary share and half a warrant, with whole warrants exercisable at $11.50 per share after business combination completion.

This follows the standard SPAC playbook - raising capital through an IPO with the sole purpose of identifying and acquiring an existing private business, effectively offering an alternative pathway to public markets compared to traditional IPOs. The company's underwriter, ThinkEquity, also has a 45-day option to purchase up to 900,000 additional units to cover potential over-allotments, which could increase the total raised by $9 million.

The SPAC now enters its search phase where management will identify acquisition targets. While no specific industry focus was mentioned in the release, investors will be watching for announcements about potential acquisition targets. The SPAC market has become more disciplined since its 2020-2021 boom period, with investors scrutinizing target quality and valuation more carefully. Origin will need to complete an acquisition typically within 18-24 months or return capital to investors.

The units currently trade under "ORIQU" but will eventually split, allowing shares and warrants to trade separately under "ORIQ" and "ORIQW" respectively. This Singapore-based SPAC represents continued global adoption of the SPAC model despite the overall cooling of the SPAC market from its peak.

Singapore, July 03, 2025 (GLOBE NEWSWIRE) -- Origin Investment Corp I (the “Company”), a newly organized special purpose acquisition company, today announced the closing of its initial public offering (“IPO”) of 6,000,000 units at an offering price of $10.00 per unit, with each unit consisting of one ordinary share and one-half of one redeemable warrant. The units began trading on the Nasdaq Global Market (“Nasdaq”) on July 2, 2025 under the ticker symbol “ORIQU”. Each whole warrant entitles the holder thereof to purchase one ordinary share at a price of $11.50 per share, subject to adjustment as described in the prospectus. Only whole warrants are exercisable. The warrants will become exercisable 30 days after the completion of the Company’s initial business combination, and will expire five years after the completion of the Company’s initial business combination or earlier upon redemption or the Company’s liquidation. Once the securities comprising the units begin separate trading, the ordinary shares and the warrants are expected to be traded on Nasdaq under the symbols “ORIQ” and “ORIQW”, respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. In addition, the Company has granted the underwriters a 45-day option to purchase up to 900,000 additional units at the IPO price to cover over-allotments, if any.

The Company intends to use the net proceeds from the offering, and the simultaneous private placement of units, to pursue and consummate a business combination with one or more businesses.

ThinkEquity acted as the sole book-running manager for the offering.

A registration statement on Form S-1 (File No. 333-284189) relating to the units was filed with the Securities and Exchange Commission (“SEC”) and became effective on July 1, 2025. This offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. The final prospectus has been filed with the SEC and is available on the SEC’s website located at http://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 Origin Investment Corp I

The Company 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 or entities. While the Company will not limit its search for a target company to any particular business segment, the Company intends to focus its search for a target business in Asia. However, the Company will not consummate its initial business combination with an entity or business in China or with China operations consolidated through a variable interest entity structure.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the IPO, the anticipated use of the net proceeds thereof and search for an initial business combination. No assurance can be given 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 prospectus for the IPO 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:

Edward Chang, CEO
+65 7825-5768
eychang@originequity.partners

FAQ

How much did Origin Investment Corp I (ORIQU) raise in its IPO?

Origin Investment Corp I raised $60 million by offering 6,000,000 units at $10.00 per unit in its initial public offering.

What is included in each ORIQU IPO unit?

Each unit consists of one ordinary share and one-half of one redeemable warrant. Each whole warrant can purchase one ordinary share at $11.50.

When will ORIQU's warrants become exercisable?

The warrants will become exercisable 30 days after the completion of the company's initial business combination and will expire 5 years after completion.

What are the trading symbols for Origin Investment Corp I?

The units currently trade as ORIQU. After separation, the ordinary shares will trade as ORIQ and warrants as ORIQW on Nasdaq.

Who was the underwriter for the Origin Investment Corp I IPO?

ThinkEquity acted as the sole book-running manager for the offering.