Southern Cross Acquisition II Corp. Announces Closing of $76,526,300 Initial Public Offering

Rhea-AI Summary

Southern Cross Acquisition II Corp. (NASDAQ: SCATU) closed its initial public offering of 7,652,630 units at $10.00 per unit on August 27, 2026, including the underwriters’ partial over-allotment of 152,630 units, for gross proceeds of $76,526,300 before underwriting discounts and expenses. The units began trading on the Nasdaq Capital Market on August 26, 2026 under the symbol “SCATU”.

Each unit comprises one ordinary share, one redeemable warrant and one right to receive one-fourth of an ordinary share upon completion of an initial business combination. Each warrant allows the purchase of one ordinary share at $11.50. The shares, warrants and rights are expected to trade separately on Nasdaq under “SCAT”, “SCATW” and “SCATR”, respectively. Concurrently, the company completed a private placement of 224,932 units at $10.00 per unit, raising an additional $2,249,320. Approximately $76,717,616, or $10.025 per public unit, was placed in a trust account from the combined net proceeds.

Positive

• IPO gross proceeds of $76,526,300 from 7,652,630 units at $10.00
• Additional $2,249,320 raised via concurrent private placement of 224,932 units
• $76,717,616 placed in trust, equal to $10.025 per public unit
• Units and securities listed or expected on Nasdaq as SCATU, SCAT, SCATW, SCATR
• Each warrant exercisable at $11.50 for one ordinary share

Negative

• None.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

NEW YORK CITY, NY / ACCESS Newswire / August 27, 2026 / Southern Cross Acquisition II Corp. (NASDAQ:SCATU) (the "Company"), a Cayman Islands exempted company, announced today the closing of its initial public offering of 7,652,630 units at $10.00 per unit, which includes the partial exercise of the underwriters' option to purchase an additional 152,630 units to cover over-allotments. The gross proceeds from the offering were $76,526,300 before deducting underwriting discounts and estimated offering expenses. The units are listed on the Nasdaq Capital Market ("Nasdaq") and began trading under the ticker symbol "SCATU" on August 26, 2026. Each unit consists of one ordinary share, one redeemable warrant, and one right to receive one-fourth of one ordinary share upon consummation of an initial business combination. Each redeemable warrant entitles the holder thereof to purchase one ordinary share at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the ordinary shares, warrants and rights are expected to be listed on Nasdaq under "SCAT," "SCATW," and "SCATR," respectively.

Concurrently with the closing of the initial public offering, the Company closed a private placement of 224,932 units at a price of $10.00 per unit, resulting in gross proceeds of $2,249,320. The private placement units are identical to the units sold in the initial public offering, subject to certain limited exceptions as described in the final prospectus.

D. Boral Capital LLC acted as sole book-running manager of the offering.

Robinson & Cole LLP served as legal counsel to the Company on the initial public offering. Norton Rose Fulbright US LLP served as legal counsel to D. Boral Capital LLC.

Of the net proceeds received from the consummation of the initial public offering and simultaneous private placement, approximately $76,717,616 ($10.025 per unit sold in the public offering) was placed in trust. An audited balance sheet of the Company as of August 27, 2026, reflecting receipt of the proceeds upon the consummation of the initial public offering and the private placement, will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the U.S. Securities and Exchange Commission (the "SEC").

A final prospectus relating to and describing the final terms of the offering was filed with the SEC on August 26, 2026. The offering is being 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 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 Southern Cross Acquisition II Corp.

The Company 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. The Company's target search will not be limited to a particular industry or geographic region.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering, the anticipated use of the net proceeds 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 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, preliminary prospectus and final prospectus for the Company's offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as required by law.

Contact

Southern Cross Acquisition II Corp.
Ally Tong Zhang
Chief Executive Officer
allyz@southerncross.cc

SOURCE: Southern Cross Acquisition II Corp.

View the original press release on ACCESS Newswire

FAQ

What did Southern Cross Acquisition II Corp. (NASDAQ: SCATU) announce on August 27, 2026?

Southern Cross Acquisition II Corp. announced the closing of its initial public offering, raising $76,526,300 in gross proceeds. According to Southern Cross Acquisition II Corp., the IPO comprised 7,652,630 units at $10.00 each, including a partial over-allotment exercised by underwriters.

How large is the Southern Cross Acquisition II Corp. (SCAT) IPO and how many units were sold?

The IPO size is $76,526,300, with 7,652,630 units sold at $10.00 per unit. According to Southern Cross Acquisition II Corp., this figure includes 152,630 additional units from the partial exercise of the underwriters’ over-allotment option.

On which Nasdaq symbols do Southern Cross Acquisition II Corp. (SCAT) securities trade?

The IPO units trade on Nasdaq as SCATU, and the components are expected as SCAT, SCATW, and SCATR. According to Southern Cross Acquisition II Corp., SCATU began trading on the Nasdaq Capital Market on August 26, 2026.

What does each SCATU unit from Southern Cross Acquisition II Corp. contain?

Each SCATU unit contains one ordinary share, one redeemable warrant and one right. According to Southern Cross Acquisition II Corp., each right converts into one-fourth of an ordinary share upon a business combination, and each warrant allows purchase of one ordinary share at $11.50.

How much money did Southern Cross Acquisition II Corp. (SCAT) place in its trust account?

Southern Cross Acquisition II Corp. placed approximately $76,717,616 into a trust account. According to Southern Cross Acquisition II Corp., this amount equals about $10.025 per unit sold in the public offering, funded from the net proceeds of the IPO and private placement.

What was the size of the private placement completed with the SCAT IPO closing?

The company completed a private placement of 224,932 units at $10.00 per unit, raising $2,249,320. According to Southern Cross Acquisition II Corp., these private placement units are identical to IPO units, subject to limited exceptions described in the final prospectus.

What type of company is Southern Cross Acquisition II Corp. (NASDAQ: SCATU)?

Southern Cross Acquisition II Corp. is a blank check company formed to pursue a business combination. According to Southern Cross Acquisition II Corp., potential targets are not limited by industry or geographic region and may include mergers, share exchanges, or similar transactions.