QDRO Acquisition Corp. is conducting an initial public offering of 20,000,000 units at $10.00 per unit (up to 23,000,000 units if the underwriters exercise their option). Each unit contains one Class A ordinary share and one-half of one redeemable warrant; only whole warrants are exercisable. Of the gross proceeds, $200.0 million (or $230.0 million if the over-allotment is fully exercised) will be placed in a U.S.-based trust account.
Founder and sponsor economics include 5,750,000 founder shares purchased for $25,000 and a private placement of 6,000,000 warrants for $6.0 million (sponsor to buy 4,000,000; Cantor Fitzgerald to buy 2,000,000). The offering allocates underwriting discounts and deferred commissions that reduce available proceeds and are partially deposited in the trust. The company is a Cayman Islands blank-check company with an 18-month completion window to effect an initial business combination.
QDRO Acquisition Corp. director James Howell filed an initial ownership report showing he holds 25,000 Class B ordinary shares. These Class B shares are automatically convertible into 25,000 Class A ordinary shares on a one-for-one basis at the time of the company’s initial business combination.
The Class B shares have no expiration date, are subject to anti-dilution adjustments, and may be forfeited under certain circumstances related to Mr. Howell’s service on the Board of Directors. This filing records his existing position rather than reporting a new purchase or sale.
QDRO Acquisition Corp. director Konstantin Tourevski reported an initial holding of Class B ordinary shares. He holds 100,000 Class B ordinary shares, which are automatically convertible into the issuer’s Class A ordinary shares on a one-for-one basis at the time of the issuer’s initial business combination.
The Class B shares have an exercise price of $0.0000, no expiration date, and are subject to anti-dilution adjustments. They may be forfeited under certain circumstances related to Mr. Tourevski’s service on the board of directors.
QDRO Acquisition Corp. Chief Financial Officer Walter A. Bishop reported initial beneficial ownership of 5,000 Class B ordinary shares. These Class B shares automatically convert into 5,000 Class A ordinary shares on a one-for-one basis at the time of the company’s initial business combination, subject to anti-dilution adjustments. The Class B shares have no expiration date but are subject to potential forfeiture based on Mr. Bishop’s continued service as Chief Financial Officer.