Proem Acquisition Corp I Announces Closing of $130 Million Initial Public Offering

Rhea-AI Summary

Proem Acquisition Corp I (NASDAQ:PAACU) closed its initial public offering of 13,000,000 units at $10.00 per unit on February 13, 2026, generating $130,000,000 gross proceeds before underwriting discounts and offering expenses.

Each unit contains one ordinary share and one-half warrant; whole warrants exercise at $11.50. The units began trading on the Nasdaq Global Market under PAACU on February 12, 2026. The company granted a 45-day 15% over-allotment option for up to 1,950,000 additional units.

Positive

• Gross proceeds of $130,000,000
• Units began trading on Nasdaq Global Market as PAACU
• Underwriters granted a 45-day, 15% over-allotment option

Negative

• Net proceeds reduced by unspecified underwriting discounts and offering expenses
• Outstanding warrants at $11.50 create potential future dilution if exercised

Key Figures

Units offered: 13,000,000 units IPO price: $10.00 per unit Gross proceeds: $130,000,000 +5 more

8 metrics

Units offered 13,000,000 units Initial public offering

IPO price $10.00 per unit Initial public offering price

Gross proceeds $130,000,000 Before underwriting discounts and expenses

Underwriter option 1,950,000 units 45-day over-allotment option

Option period 45 days Underwriters’ over-allotment option duration

Warrant coverage 1/2 warrant per unit Each unit includes half of one redeemable warrant

Warrant exercise price $11.50 per share Exercise price for each whole warrant

SEC effectiveness date February 11, 2026 Registration statement declared effective

Market Reality Check

normal vol

Market Pulse Summary

This announcement highlights the completion of Proem Acquisition Corp I’s IPO, raising $130,000,000 ...

Analysis

This announcement highlights the completion of Proem Acquisition Corp I’s IPO, raising $130,000,000 via 13,000,000 units at $10.00 each, with attached redeemable warrants exercisable at $11.50 per share. As a SPAC, the key future variables include the timing and terms of any business combination, the use of the underwriters’ 45-day over-allotment option, and how warrant terms affect eventual dilution and capital structure.

Key Terms

initial public offering, redeemable warrant, over-allotments, registration statement, +1 more

5 terms

initial public offering financial

"announced the closing of its initial public offering of 13,000,000 units"

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

redeemable warrant financial

"and one-half of one redeemable warrant. Each whole warrant entitles"

A redeemable warrant is a financial tool that gives its holder the right to buy shares of a company at a fixed price within a certain period. If the holder chooses to do so, the company can buy back or cancel the warrant before it expires, often to encourage investment or manage share issuance. For investors, it provides an option to potentially buy shares at a favorable price while offering some flexibility for the issuing company.

over-allotments financial

"option to purchase up to 1,950,000 additional units ... to cover over-allotments"

An over-allotment is a temporary extra batch of shares that the underwriters of a stock offering are allowed to sell beyond the original amount, with the right to buy those shares back later. Think of it as spare tickets sold to meet demand and then reclaimed if needed to keep the market orderly; it helps stabilize the stock price after an offering and can affect short-term supply and potential dilution, which matters to investors tracking price and ownership stakes.

registration statement regulatory

"A registration statement relating to the securities sold in the initial public offering"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

prospectus regulatory

"The public offering is being made only by means of a prospectus."

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

AI-generated analysis. Not financial advice.

Dallas, Texas, United States, Feb. 13, 2026 (GLOBE NEWSWIRE) -- Proem Acquisition Corp I (the “Company”) announced the closing of its initial public offering of 13,000,000 units at a price of $10.00 per unit on February 13, 2026. Total gross proceeds from the offering were $130,000,000 before deducting underwriting discounts and commissions and other offering expenses payable by the Company.

The units began trading on the Nasdaq Global Market (“NASDAQ”) under the ticker symbol “PAACU” on February 12, 2026. Each unit consists of one ordinary share of the Company and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one ordinary share of the Company at a price of $11.50 per share. 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 “PAAC” and “PAACW,” respectively.

The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses. The Company may pursue an initial business combination in any business or industry.

Clear Street LLC acted as lead book-running manager. The Company has granted the underwriters a 45-day option to purchase up to 1,950,000 additional units at the initial public offering price to cover over-allotments, if any.

A registration statement relating to the securities sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 11, 2026. The public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from Clear Street LLC, Attn: Syndicate Department, 150 Greenwich Street, 45th floor, New York, NY 10007, by email at ecm@clearstreet.io.

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 Proem Acquisition Corp I

Proem Acquisition Corp I is a blank check company newly incorporated as a Cayman Islands exempted company and formed for the purpose of entering into a merger, amalgamation, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses. The Company has not selected any specific business combination target and has not, nor has anyone on its behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with the Company. The Company’s management team is led by Imran Khan, the Chief Executive Officer and Chairman of the Board, and Greg Pearson, the Chief Financial Officer. In addition, the Board includes John Wu, David Eckstein, Amarnath Thombre, and Andrey Kazakov.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering (“IPO”) including the gross proceeds of the IPO, the anticipated use of the net proceeds from the IPO and the search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or that the net proceeds of the offering will be used as indicated or that the Company will ultimately complete a business combination transaction in the sectors it is targeting or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Proem Acquisition Corp I, including those set forth in the Risk Factors section of Proem Acquisition Corp I’s registration statement and preliminary prospectus for the IPO filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. Proem Acquisition Corp I undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contacts:

Greg Pearson
Chief Financial Officer
(214) 706-9344

FAQ

What did Proem Acquisition Corp I (PAAC) announce on February 13, 2026?

Proem announced closing its IPO of 13,000,000 units for $10.00 each, raising $130,000,000 gross. According to the company, the units include one share and one-half warrant, and the SEC declared the registration statement effective on February 11, 2026.

When did PAACU begin trading on Nasdaq and what are the expected separate tickers?

Units began trading on the Nasdaq Global Market as PAACU on February 12, 2026. According to the company, once separated, ordinary shares and warrants are expected to trade under PAAC and PAACW respectively.

What is the composition and warrant exercise price for PAAC units and warrants?

Each unit contains one ordinary share and one-half of a redeemable warrant; whole warrants exercise at $11.50 per share. According to the company, each whole warrant allows purchase of one ordinary share at that price.

How much additional supply can underwriters sell under the PAAC over-allotment option?

Underwriters have a 45-day option to buy up to 1,950,000 additional units at the IPO price. According to the company, this represents a 15% over-allotment available to cover overallotments, if any.

How much money did Proem Acquisition Corp I raise in the offering and are proceeds net?

The company raised $130,000,000 in gross proceeds from the offering of 13,000,000 units at $10.00 each. According to the company, this amount is before deducting underwriting discounts, commissions, and offering expenses.

What is Proem Acquisition Corp I's business purpose as a SPAC (PAAC)?

Proem was formed to effect a business combination such as a merger, share exchange, or asset acquisition with one or more businesses. According to the company, it may pursue a combination in any industry or business sector.