Viking Acquisition Corp. I Announces Closing of $230 Million Initial Public Offering

Rhea-AI Summary

Viking Acquisition Corp. I (NYSE: VACI.U) closed its initial public offering on November 3, 2025, raising $230 million through sale of 23,000,000 units at $10.00 per unit, including 3,000,000 units from the underwriters’ full over-allotment exercise.

Each unit contains one Class A ordinary share and one-third of one redeemable warrant; whole warrants are exercisable to buy one Class A share at $11.50 per share. Units began trading on the NYSE under VACI.U on October 31, 2025; separate trading of shares and warrants is expected under VACI and VACI WS. Cohen & Company Capital Markets acted as lead book-running manager.

Positive

• Gross proceeds of $230 million raised
• 23,000,000 units sold including 3,000,000 over-allotment units
• NYSE listing with units trading under VACI.U since October 31, 2025

Negative

• Issuance of redeemable warrants exercisable at $11.50 may dilute shareholders upon exercise

Insights

Capital Markets Analyst

Viking completed a $230 million IPO as units; separate trading of shares and warrants is expected.

The Company sold 23,000,000 units at $10.00 per unit, including a full over-allotment for gross proceeds of $230,000,000. Each unit contains one Class A ordinary share and one-third of a warrant, with whole warrants exercisable at $11.50. The units began trading on the NYSE under VACI.U on October 31, 2025, and separate trading of the underlying securities is expected under VACI and VACI WS.

Key dependencies and constraints follow directly from the offering documents: the company’s use of net proceeds and risk factors are set out in the filed final prospectus and registration statement with the SEC, and the offering was conducted through a lead book‑running manager that exercised the overallotment. Monitor the tranche separation timetable, the final prospectus disclosures about intended use of proceeds, and any conditions that affect warrant exercisability. Near-term milestones to watch include the start of separate trading of Class A shares and warrants and any subsequent SEC filings that amend use-of-proceeds details; these items should appear within the public SEC filings timeline (Nov 3, 2025 filing referenced).

NEW YORK, Nov. 03, 2025 (GLOBE NEWSWIRE) -- Viking Acquisition Corp. I (NYSE: VACI.U) (the “Company” or “Viking”), a Cayman Islands exempted company, announced today the closing of its initial public offering of 23,000,000 units at a price of $10.00 per unit, including an additional 3,000,000 units sold pursuant to the full exercise of the underwriters’ over-allotment option, for gross proceeds of $230 million. Each unit consists of one (1) Class A ordinary share and one-third (1/3) of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at a price of $11.50 per share, subject to certain adjustments. Only whole warrants will be exercisable.

The units began trading on the New York Stock Exchange (the “NYSE”) under the ticker symbol “VACI.U” on October 31, 2025. Once the securities comprising the units begin separate trading, the Class A ordinary shares and the warrants are expected to be traded on the NYSE under the symbols “VACI” and “VACI WS”, respectively.

Cohen & Company Capital Markets, a Division of Cohen & Company Securities, LLC (“Cohen”) acted as the lead book-running manager for the offering. The Company was represented by DLA-Piper LLP (US) as its legal counsel and Cohen was represented by Ellenoff Grossman & Schole LLP as its legal counsel.

A final prospectus relating to and describing the final terms of the offering has been filed with the Securities and Exchange Commission (the “SEC”). The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from Cohen & Company Capital Markets, 3 Columbus Circle, 24th Floor, New York, NY 10019, Attention: Prospectus Department, or by email at: capitalmarkets@cohencm.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Note Concerning Forward Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the anticipated use of the net proceeds. Forward-looking statements are statements that are not historical facts. Such 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 final prospectus for the Company’s offering filed with the SEC, which could cause actual results to differ from the forward-looking statements. 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.

About Viking Acquisition Corp. I

Viking Acquisition Corp. I is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region.

CONTACT

Gil Ottensoser

Chief Financial Officer

gil.ottensoser@kingsrock.com

(917) 423-7931

FAQ

How much money did Viking Acquisition Corp. I (VACI) raise in its IPO on November 3, 2025?

Viking raised $230 million from sale of 23,000,000 units at $10.00 each, including the full 3,000,000 unit over-allotment.

What does each VACI unit include and what is the warrant exercise price?

Each unit includes one Class A ordinary share and one-third of a redeemable warrant; whole warrants are exercisable at $11.50 per share.

When did VACI units begin trading on the NYSE and what are the expected tickers after separation?

Units began trading on the NYSE under VACI.U on October 31, 2025; Class A shares and warrants are expected to trade as VACI and VACI WS, respectively.

Who led the VACI IPO underwriting?

Cohen & Company Capital Markets served as the lead book-running manager for the offering.

Where can investors obtain the final prospectus for VACI's offering?

Copies of the final prospectus are available from Cohen & Company Capital Markets or on the SEC website at www.sec.gov.