Shreya Acquisition Group Prices $100 Million Initial Public Offering

Rhea-AI Summary

Shreya Acquisition Group (NYSE:SAGU) priced a $100.0 million initial public offering on May 6, 2026, selling 10,000,000 units at $10.00 per unit. Each unit contains one Class A share, one warrant (exercise $11.50) and one right to 1/4 share on a business combination.

Units are expected to trade on the NYSE as SAGUU beginning May 7, 2026; underlying securities will trade as SAGU, SAGUW and SAGUR after separation. The underwriter has a 45-day option for up to 1,500,000 additional units; closing expected May 8, 2026.

Positive

• Offering size of $100,000,000 via 10,000,000 units
• Primary listing expected on NYSE with ticker SAGUU on May 7, 2026
• Underwriter overallotment option of up to 1,500,000 units

Negative

• Warrant exercise price of $11.50 creates potential post-combination dilution
• Offering is subject to customary closing conditions and may not close

NEW YORK, May 06, 2026 (GLOBE NEWSWIRE) -- Shreya Acquisition Group (the “Company”), a newly organized special purpose acquisition company formed as a Cayman Islands exempted company, today announced the pricing of its initial public offering of 10,000,000 units at an offering price of $10.00 per unit, with each unit consisting of one Class A ordinary share, one redeemable warrant and one right to receive one-fourth (1/4th) of one Class A ordinary share upon the consummation of an initial business combination. Each warrant will entitle the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. The units are expected to trade on the New York Stock Exchange (“NYSE”) under the ticker symbol “SAGUU” beginning May 7, 2026. Once the securities comprising the units begin separate trading, the Class A ordinary shares, the warrants and the rights are expected to be traded on the NYSE under the symbols “SAGU” “SAGUW” and “SAGUR,” respectively.

D. Boral Capital, LLC is acting as sole book-running manager for the offering.

The Company has granted the underwriter a 45-day option to purchase up to an additional 1,500,000 units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on May 8, 2026, subject to customary closing conditions.

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 May 6, 2026. The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: D. Boral Capital LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, by email to dbccapitalmarkets@dboralcapital.com or by calling +1 (212) 970-5150, or by accessing the SEC’s website at 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.

Shreya Acquisition Group

Shreya Acquisition Group 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, amalgamation, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. While the Company may pursue an acquisition opportunity in any business, industry, sector or geographical location, the Company intends to focus on companies engaged in the health and wellness, hospitality, media and entertainment, shipping infrastructure and waterways tourism sectors.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering (“IPO”) and search for an initial business combination. 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 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.

Contacts:
Shreya Acquisition Group
Cassia Court, Suite 716, 10 Market Street.
Camana Bay, Grand Cayman, Cayman Islands
Contact number: 230 5942 0130

FAQ

What did Shreya Acquisition Group (SAGU) price its IPO at on May 6, 2026?

Shreya priced the IPO at $10.00 per unit, totaling $100 million for 10,000,000 units. According to Shreya Acquisition Group, each unit includes one Class A share, one warrant exercisable at $11.50, and one right to 1/4 share on a business combination.

When will SAGU units begin trading on the NYSE and under what symbol?

SAGU units are expected to begin trading on the NYSE as SAGUU on May 7, 2026. According to Shreya Acquisition Group, the underlying Class A shares, warrants and rights will trade later as SAGU, SAGUW and SAGUR after separate trading begins.

What do SAGU units contain and what is the warrant exercise price?

Each SAGU unit contains one Class A share, one redeemable warrant, and one right to 1/4 share. According to Shreya Acquisition Group, each warrant entitles the holder to buy one Class A share at an $11.50 exercise price.

Who is managing the SAGU IPO and is there an overallotment option?

D. Boral Capital is the sole book-running manager for the offering, with a 45-day option to purchase up to 1,500,000 additional units. According to Shreya Acquisition Group, the option covers potential over-allotments at the IPO price.

When is the SAGU IPO expected to close and are there conditions?

The offering is expected to close on May 8, 2026, subject to customary closing conditions. According to Shreya Acquisition Group, completion depends on satisfying those conditions and final procedural steps before funds are released.