Shepherd Ave Capital Acquisition Corporation Announces the Separate Trading of its Class A Ordinary Shares and Rights, Commencing on January 27, 2025
Rhea-AI Summary
Shepherd Ave Capital Acquisition (Nasdaq: SPHAU) has announced that starting January 27, 2025, holders of the 8,625,000 units sold in its initial public offering can elect to separately trade the Class A ordinary shares and rights included in the Units.
The Units will continue trading on NASDAQ under 'SPHAU', while separated Class A ordinary shares and rights will trade under 'SPHA' and 'SPHAR' respectively. Unit holders must contact Vstock Transfer, to separate their holdings.
The initial public offering was underwritten by SPAC Advisory Partners , a division of Kingswood Capital Partners A registration statement (File No. 333-280986) for these securities was declared effective by the SEC on December 2, 2024.
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News Market Reaction
On the day this news was published, SPHAU gained 0.10%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Wilmington, DE, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Shepherd Ave Capital Acquisition Corporation (the “Company”) (Nasdaq: SPHAU), a blank check company, today announced that, commencing on January 27, 2025, holders of the 8,625,000 units (the “Units”) sold in the Company’s initial public offering (the “Offering”) including Units sold upon the full exercise of the underwriters’ over-allotment option, may elect to separately trade the Class A ordinary shares and rights included in the Units. Any Units not separated will continue to trade on the NASDAQ Global Market (“NASDAQ”) under the symbol “SPHAU.” Any underlying Class A ordinary shares and rights that are separated will trade on the NASDAQ under the symbols “SPHA” and “SPHAR,” respectively. Holders of Units will need to have their brokers contact the Company’s transfer agent, Vstock Transfer, LLC, in order to separate the holders’ Units into Class A ordinary shares and rights.
The Units were initially offered by the Company in an underwritten offering. SPAC Advisory Partners LLC (“SAP”), a division of Kingswood Capital Partners LLC acted as the sole book-running manager for the Offering. A registration statement on Form S-1 (File No. 333-280986) relating to these securities was declared effective by the Securities and Exchange Commission (the “SEC”) on December 2, 2024. The Offering was made only by means of a prospectus, copies of which may be obtained by contacting Kingswood Capital Partners, LLC, 126 East 56th Street, Suite 22S, New York, NY 10022, by calling 212-487-1080, by emailing Syndicate@kingswoodUS.com, or 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 Shepherd Ave Capital Acquisition Corporation
SPHA is a newly incorporated, blank check company formed in the Cayman Islands for the purpose of effecting a merger, 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 initial business combination target in any business or industry, it intends to identify companies with strong management team, niche deal size with growth potential, long-term revenue visibility with defensible market position, and benefits from being a U.S. public company. The sponsor of the Company is Aitefund Sponsor LLC.
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. 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. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. 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 Registration Statement and related preliminary prospectus filed in connection with the initial public offering with the SEC. Copies are available on the SEC’s website, www.sec.gov.
Company contact:
William W. Snyder, CEO
221 W 9th St, #859
Wilmington, DE 19801
bill@shepherdavecapital.com
FAQ
When will Shepherd Ave Capital (SPHAU) units begin separate trading of shares and rights?
What are the new trading symbols for Shepherd Ave Capital's separated securities?
How many units were sold in Shepherd Ave Capital's (SPHAU) initial public offering?
What is the process for SPHAU unit holders to separate their units?
When was Shepherd Ave Capital's (SPHAU) registration statement declared effective by the SEC?
