Melar Acquisition I Stock Price, News & Analysis
Company Description
Melar Acquisition Corp. I (NASDAQ: MACI) is a special purpose acquisition company (SPAC) incorporated under the laws of the Cayman Islands. According to its public disclosures, the company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Its units, Class A ordinary shares, and warrants are listed on The Nasdaq Stock Market under the symbols MACIU, MACI, and MACIW, respectively.
Melar Acquisition Corp. I belongs to the Financial Services sector and is classified among shell companies, reflecting its structure as a blank check company. As described in its news releases, Melar completed an initial public offering of units that include one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant is exercisable for one Class A ordinary share at a specified exercise price.
Business purpose and SPAC structure
As a SPAC, Melar Acquisition Corp. I does not describe an operating business of its own. Instead, its stated objective is to identify and complete a business combination with an operating company. The company has disclosed that it may pursue an initial business combination in any business or industry. This structure allows an identified target business to access the U.S. public equity markets through a merger with Melar rather than through a traditional initial public offering.
Public filings and press releases indicate that Melar is sponsored by Melar Acquisition Sponsor I LLC. The sponsor provides capital and support to the SPAC prior to the completion of a business combination and receives securities of the SPAC in return. Melar has also described itself as an emerging growth company under applicable U.S. securities regulations.
Proposed business combination with Everli Global Inc.
Melar has announced a proposed business combination with Everli Global Inc., an e-grocery technology and fulfillment platform focused on online grocery shopping. In a joint press release, Everli and Melar stated that they entered into a definitive Agreement and Plan of Merger dated July 30, 2025. Under this merger agreement, a newly formed, wholly owned subsidiary of Melar is expected to merge with and into Everli, with Everli continuing as the surviving entity and a wholly owned subsidiary of Melar.
The parties have disclosed that, upon closing of the proposed transaction, the combined company is expected to operate under the name Everli Global Holdings Inc. and that they will seek to list the combined company on Nasdaq under the ticker symbol "EVRL." The boards of directors of both Melar and Everli have unanimously approved the proposed transaction, which remains subject to shareholder approval and other customary closing conditions. Public filings emphasize that there can be no guarantee that the business combination will close within a particular timeframe or at all.
Capital structure and listed securities
Melar’s capital structure includes units, Class A ordinary shares, and public warrants. According to its SEC filings, the units each consist of one Class A ordinary share and one-half of one redeemable warrant. Once the securities begin separate trading, the Class A ordinary shares trade under the symbol MACI and the warrants under MACIW. Each whole warrant is exercisable for one Class A ordinary share at an exercise price of $11.50 per share, as disclosed in the company’s filings.
The company’s initial public offering of units was priced at a fixed amount per unit and was underwritten by financial institutions identified in its press release. Melar has also disclosed that the underwriters were granted an option to purchase additional units to cover over-allotments, if any. These details reflect the typical structure of a SPAC IPO, in which proceeds are raised to fund a future business combination.
Financing arrangements related to the Everli transaction
In connection with the proposed business combination with Everli, Melar has reported several financing and note arrangements in its Current Reports on Form 8-K. These include an Amended and Restated Secured Promissory Note and Pledge Agreement with Everli and a certain stockholder of Everli, referred to as the Everli Note. The principal amount available under the Everli Note has been increased through subsequent amendments, as disclosed in filings dated September 18, 2025 and October 3, 2025.
Melar has also issued an Amended and Restated Promissory Note to its sponsor, Melar Acquisition Sponsor I LLC, referred to as the Sponsor Note. The principal amount under the Sponsor Note has likewise been increased through amendments. These notes are described in the company’s SEC filings, which explain that the amendments adjust the maximum principal amounts and are filed as exhibits to the relevant Form 8-K reports.
Additionally, Melar has reported the existence of a secured promissory note and pledge agreement entered into by Everli with Melar Capital Group LLC, referred to as the Everli Convertible Note. This note provides financing to Everli and is secured by the assets of Everli and its subsidiaries. The filing states that Melar is a signatory to the Everli Convertible Note to acknowledge, among other things, the conversion right into Melar Class A common stock and the parity of the security interests. The company has stated that the Everli Convertible Note creates no direct financial obligation or off-balance sheet arrangement for Melar.
Regulatory filings and shareholder communications
Melar’s SEC filings describe its intention, together with Everli, to file a registration statement on Form S-4 with the U.S. Securities and Exchange Commission in connection with the proposed business combination. This registration statement is expected to include a proxy statement for Melar shareholders and a prospectus relating to the securities to be issued in the transaction. The company has advised shareholders and other interested persons to review the registration statement and related documents when they become available, as they will contain important information about Melar, Everli, and the business combination.
In multiple Form 8-K filings, Melar notes that it and Everli, along with their respective directors, executive officers, and employees, may be deemed participants in the solicitation of proxies from Melar’s shareholders in connection with the business combination. The filings indicate that additional information about these participants and their interests will be provided in the proxy statement/prospectus filed with the SEC.
Status and trading of MACI stock
Based on the information provided, Melar Acquisition Corp. I’s Class A ordinary shares trade on Nasdaq under the symbol MACI, with related units and warrants trading under MACIU and MACIW. The company identifies itself as an emerging growth company and a SPAC seeking to complete a business combination. The available filings and news do not state that Melar has completed its proposed business combination or that its securities have been delisted, and they do not describe a change in ticker symbol that has already taken effect. Investors researching MACI can review Melar’s SEC filings, including Form 8-K reports, for detailed information about its structure, financing arrangements, and the status of the proposed merger with Everli.
FAQs about Melar Acquisition Corp. I (MACI)
- What is Melar Acquisition Corp. I?
Melar Acquisition Corp. I is a special purpose acquisition company incorporated in the Cayman Islands. It was formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, as disclosed in its public filings and press releases. - What sector and industry is Melar Acquisition Corp. I associated with?
Melar is associated with the Financial Services sector and is classified among shell companies, reflecting its status as a blank check company that seeks to combine with an operating business. - On which exchange does MACI trade and what securities are listed?
According to its SEC filings, Melar’s units, Class A ordinary shares, and warrants are listed on The Nasdaq Stock Market. The units trade under the symbol MACIU, the Class A ordinary shares under MACI, and the warrants under MACIW. - What is the purpose of Melar’s initial public offering?
Melar’s initial public offering of units raised capital to fund its search for and completion of a business combination. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, and each whole warrant is exercisable for one Class A ordinary share at an exercise price disclosed in the company’s filings. - What is the proposed business combination between Melar and Everli?
Melar and Everli Global Inc. have entered into an Agreement and Plan of Merger for a proposed business combination. Under this agreement, a wholly owned Melar subsidiary is expected to merge with and into Everli, with Everli becoming a wholly owned subsidiary of Melar. The combined company is expected to operate under the name Everli Global Holdings Inc., subject to closing conditions and shareholder approvals. - Will MACI change its ticker symbol after the Everli transaction?
In their joint press release, Melar and Everli stated that, upon closing of the proposed transaction, the combined company will seek to list on Nasdaq under the ticker symbol "EVRL." This reflects the parties’ intention but does not represent a completed change as of the information provided. - What financing arrangements has Melar disclosed in relation to Everli?
Melar has disclosed an Amended and Restated Secured Promissory Note and Pledge Agreement with Everli, referred to as the Everli Note, which has been amended to increase its principal amount. It has also disclosed a promissory note to its sponsor, referred to as the Sponsor Note, which has likewise been amended. In addition, Everli has entered into a secured promissory note and pledge agreement with Melar Capital Group LLC, known as the Everli Convertible Note, in which Melar is a signatory to acknowledge certain rights and security interests. - How can investors learn more about the proposed business combination?
Melar’s Form 8-K filings state that a registration statement on Form S-4, including a proxy statement/prospectus, will be filed with the SEC in connection with the business combination. Once available, these documents can be obtained from the SEC’s website and will contain detailed information about Melar, Everli, and the terms of the proposed transaction.