Titan Acquisition Corp Announces Pricing of $240,000,000 Initial Public Offering

Rhea-AI Summary

Titan Acquisition Corp (Nasdaq: TACHU) has announced the pricing of its initial public offering (IPO) of 24,000,000 units at $10.00 per unit, totaling $240,000,000. The units will trade on the Nasdaq Global Market under 'TACHU' starting April 9, 2025.

Each unit comprises one Class A ordinary share and one-half redeemable warrant. Upon separate trading, the shares and warrants will trade under 'TACH' and 'TACHW' respectively. The underwriter has a 45-day option to purchase up to 3,600,000 additional units for over-allotments.

The company, incorporated in the Cayman Islands, is a blank check company seeking business combinations. Cantor Fitzgerald & Co. is the sole book-running manager, with Odeon Capital Group as co-manager. The offering is expected to close on April 10, 2025.

Positive

• Substantial IPO size of $240 million indicates strong initial capitalization
• Nasdaq Global Market listing provides high visibility and liquidity
• 45-day over-allotment option could add $36 million in additional capital
• Reputable underwriters managing the offering

Negative

• Blank check company status carries inherent uncertainty until target acquisition is identified
• No operating business or revenue generation at present
• Investment depends entirely on management's ability to identify and execute suitable business combination

Insights

SPAC Financial Analyst

Titan Acquisition Corp has successfully priced its $240 million SPAC IPO, selling 24 million units at $10.00 each, with trading on Nasdaq under ticker TACHU beginning April 9. This represents a standard-sized blank check offering with conventional unit structure - one Class A share plus half a warrant per unit.

The company follows the traditional SPAC model as a Cayman Islands-incorporated shell entity designed to acquire an existing business. Underwriters received the standard 45-day option to purchase 3.6 million additional units, potentially increasing the total raise to $276 million.

This transaction falls squarely within expected SPAC parameters - from the $10 unit price to the share/warrant structure. The offering provides investors early access to a potential future acquisition target, though without identifying specific sectors or industries of interest.

Investors should understand the typical SPAC lifecycle applies: Titan now has approximately 18-24 months to identify and complete a business combination or return capital to shareholders. The real investment thesis will only emerge when management announces a potential acquisition target.

With Cantor Fitzgerald serving as lead underwriter and Odeon Capital as co-manager, Titan has assembled a conventional banking team for this offering. The ultimate success of this investment vehicle depends entirely on management's ability to identify and execute an attractive business combination.

BROOKLYN, New York, April 08, 2025 (GLOBE NEWSWIRE) -- Titan Acquisition Corp (Nasdaq: TACHU) (the “Company”) announced today the pricing of its initial public offering of 24,000,000 units at $10.00 per unit. The units are expected to be listed on the Nasdaq Global Market (“Nasdaq”) and trade under the ticker symbol “TACHU” beginning April 9, 2025. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “TACH” and “TACHW”, respectively. The underwriter has been granted a 45-day option to purchase up to an additional 3,600,000 units offered by the Company to cover over-allotments, if any. The offering is expected to close on April 10, 2025, subject to customary closing conditions.

The Company is a blank check company incorporated as an exempted company under the laws of the Cayman Islands, which will seek to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.

Cantor Fitzgerald & Co. acted as the sole book-running manager of the offering. Odeon Capital Group LLC acted as co-manager of the offering.

Winston & Strawn LLP is serving as legal counsel to the Company. Ellenoff Grossman & Schole LLP is serving as legal counsel to Cantor Fitzgerald & Co.

A registration statement on Form S-1 (333-285659) relating to these securities has been filed with the Securities and Exchange Commission (“SEC”), and was declared effective on April 8, 2025. The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022; Email: prospectus@cantor.com, or from the SEC 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.

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. 

Contacts

Titan Acquisition Corp.
Mr. Adeel Rouf
Chief Financial Officer, President and Director
131 Concord Street
Brooklyn, NY 11201
Email: adeel@Titan-spac.com 

FAQ

What is the total value of Titan Acquisition Corp's (TACH) IPO?

The IPO is valued at $240,000,000, consisting of 24,000,000 units priced at $10.00 per unit.

When will TACH units begin trading on Nasdaq?

The units will begin trading on Nasdaq Global Market under symbol 'TACHU' on April 9, 2025.

What does each TACH unit consist of in the IPO?

Each unit consists of one Class A ordinary share and one-half of one redeemable warrant.

What is the over-allotment option for TACH's IPO?

The underwriter has a 45-day option to purchase up to 3,600,000 additional units to cover over-allotments.

Who are the underwriters for Titan Acquisition Corp's (TACH) IPO?

Cantor Fitzgerald & Co. is the sole book-running manager, with Odeon Capital Group as co-manager.