VERNAL CAPITAL ACQUISITION CORP. ANNOUNCES PRICING OF $100 MILLION INITIAL PUBLIC OFFERING

Rhea-AI Summary

Vernal Capital Acquisition (NYSE: VECA) priced a $100.0 million initial public offering of 10,000,000 units at $10.00 per unit on May 5, 2026.

Units (one share plus a right to 0.25 share) are expected to begin trading as VECAU on May 6, 2026; ordinary shares and rights would trade as VECA and VECAR upon separation. The underwriters have a 45-day 1,500,000-unit overallotment option. SEC declared the registration effective May 5, 2026; closing is expected May 7, 2026, subject to customary conditions.

Positive

• Offering size of $100.0 million
• Unit price set at $10.00 per unit
• Listing schedule expected: VECAU trading begins May 6, 2026

Negative

• Overallotment option could increase supply by 15% (1,500,000 units)
• Closing is subject to customary conditions, not guaranteed on May 7, 2026

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, May 5, 2026 /PRNewswire/ -- Vernal Capital Acquisition Corp. (NYSE: VECA) ("Vernal") announced the pricing of its initial public offering (the "IPO") of 10,000,000 units at $10.00 per unit. The units are expected to trade on the New York Stock Exchange ("NYSE") under "VECAU" beginning May 6, 2026. Each unit consists of one ordinary share and one right to receive one-fourth of one ordinary share upon consummation of an initial business combination. Upon separate trading, the ordinary shares and rights are expected to be listed on NYSE under "VECA" and "VECAR," respectively.

D. Boral Capital LLC is acting as sole book-running manager of the offering. The underwriters have a 45-day option to purchase up to 1,500,000 additional units to cover any over-allotments. The offering is expected to close on May 7, 2026, subject to customary closing conditions.

A registration statement for these securities was declared effective by the SEC on May 5, 2026. The offering is 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.

This press release shall not constitute an offer to sell or to buy, nor shall there be any sale where such offer, solicitation or sale would be unlawful prior to registration or qualification under the applicable securities laws.

About Vernal

Vernal is a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Vernal's target search will not be limited to a particular industry or geographic region.

Forward-Looking Statements

This press release contains "forward-looking statements," including statements regarding Vernal's IPO. These statements are subject to risks and uncertainties that could cause actual results to differ materially. No assurance can be given that the offering will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, beyond Vernal's control, including those in the Risk Factors section of Vernal's registration statement filed with the SEC. Copies are available on the SEC's website, www.sec.gov. Vernal disclaims any obligation to release publicly updates or revisions to any forward-looking statements to reflect any change in Vernal's expectations, except as required by law.

Contact

Binghan Yi, CFO
binghan@vernal.com
www.vernalspac.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/vernal-capital-acquisition-corp-announces-pricing-of-100-million-initial-public-offering-302763378.html

SOURCE Vernal Capital Acquisition Corp.

FAQ

What did Vernal Capital (VECA) price its IPO at on May 5, 2026?

Vernal priced the IPO at $10.00 per unit. According to the company, 10,000,000 units were offered for a total expected proceeds of $100.0 million, before any exercise of the overallotment option.

When will Vernal Capital units (VECAU) start trading and what tickers apply?

Units are expected to trade as VECAU beginning May 6, 2026. According to the company, ordinary shares and rights will list separately as VECA and VECAR if/when they begin separate trading.

What does one Vernal Capital unit include in the VECA IPO?

Each unit contains one ordinary share and one right to receive one-fourth of one ordinary share. According to the company, the right converts upon consummation of an initial business combination.

Does Vernal Capital's IPO include an overallotment option and how large is it?

Yes. According to the company, underwriters have a 45-day option to buy up to 1,500,000 additional units, equal to 15% of the base offering, to cover any over-allotments.

When is the expected closing date for Vernal Capital's IPO (VECA)?

The offering is expected to close on May 7, 2026. According to the company, closing remains subject to customary closing conditions and is not finalized until those conditions are met.

How can investors obtain Vernal Capital's IPO prospectus for VECA?

Copies of the prospectus are available from D. Boral Capital LLC. According to the company, investors can request it by mail, by telephone at (212) 970-5150, or by email at dbccapitalmarkets@dboralcapital.com.