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Southern Cross Acquisition II prices $75M IPO

Southern Cross Acquisition II Corp. (SCATU) announced the pricing of its initial public offering of 7,500,000 units at $10.00 per unit, for gross proceeds of $75 million.

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Southern Cross Acquisition II Corp. (SCATU) announced the pricing of its initial public offering of 7,500,000 units at $10.00 per unit, for gross proceeds of $75 million. The units are expected to begin trading on Nasdaq under the symbol SCATU on August 26, 2026.

Each unit consists of one ordinary share, one redeemable warrant, and one right to receive one-fourth of one ordinary share upon consummation of an initial business combination. Each whole warrant permits the purchase of one ordinary share at an exercise price of $11.50 per share. After the units begin separate trading, the ordinary shares, warrants and rights are expected to trade on Nasdaq under SCAT, SCATW and SCATR, respectively.

D. Boral Capital LLC is acting as sole book-running manager, and the underwriters have a 45-day option to purchase up to 1,125,000 additional units to cover over-allotments. The offering is expected to close on August 27, 2026, subject to customary conditions. SCAT is a blank check company formed to pursue a business combination in any industry or region.

Positive

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Negative

  • None.

Filing Explained

The registration statement became effective on August 25, 2026, but the IPO was still described as expected to close on August 27, 2026; registration alone does not mean the units were sold.

IPO size $75,000,000 7,500,000 units priced at $10.00 per unit
Units offered 7,500,000 units Initial public offering of units
Unit price $10.00 per unit Pricing of initial public offering
Over-allotment option units 1,125,000 units Underwriters’ 45-day option to cover over-allotments
Warrant exercise price $11.50 per share Each whole redeemable warrant to purchase one ordinary share
Unit trading start date August 26, 2026 Expected date SCATU units begin trading on Nasdaq
Expected closing date August 27, 2026 Expected closing of the IPO, subject to customary conditions
blank check company financial
"SCAT is a blank check company formed to effect a merger"
A blank check company is a publicly listed shell that raises money from investors before naming a specific business to buy or merge with, similar to handing a cashier a signed check and asking them to fill in the payee later. It matters to investors because it offers a faster, often cheaper path for private firms to become public, but carries extra risk since returns depend on the organizers’ ability to find a good deal and on limited information about the future business.
redeemable warrant financial
"Each unit consists of one ordinary share, one redeemable warrant"
A redeemable warrant is a financial tool that gives its holder the right to buy shares of a company at a fixed price within a certain period. If the holder chooses to do so, the company can buy back or cancel the warrant before it expires, often to encourage investment or manage share issuance. For investors, it provides an option to potentially buy shares at a favorable price while offering some flexibility for the issuing company.
over-allotments financial
"option to purchase up to 1,125,000 additional units to cover any over-allotments"
An over-allotment is a temporary extra batch of shares that the underwriters of a stock offering are allowed to sell beyond the original amount, with the right to buy those shares back later. Think of it as spare tickets sold to meet demand and then reclaimed if needed to keep the market orderly; it helps stabilize the stock price after an offering and can affect short-term supply and potential dilution, which matters to investors tracking price and ownership stakes.
initial business combination financial
"one right to receive one-fourth of one ordinary share upon consummation of an initial business combination"
An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.
initial public offering financial
"announced the pricing of its initial public offering"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
Offering Type IPO

FAQ

What did Southern Cross Acquisition II Corp. (SCATU) announce in this 8-K?
Southern Cross Acquisition II Corp. announced the pricing of its $75 million initial public offering of 7,500,000 units at $10.00 per unit, with the units expected to begin trading on Nasdaq under the symbol SCATU on August 26, 2026.

What does each SCATU unit consist of in the Southern Cross Acquisition II Corp. IPO?
Each SCATU unit consists of one ordinary share, one redeemable warrant, and one right to receive one-fourth of one ordinary share upon consummation of an initial business combination, providing multiple instruments per unit.

What is the exercise price of the warrants issued by Southern Cross Acquisition II Corp. (SCATU)?
Each whole redeemable warrant issued by Southern Cross Acquisition II Corp. entitles the holder to purchase one ordinary share at an exercise price of $11.50 per share, exercisable after the securities begin separate trading.

Does Southern Cross Acquisition II Corp. (SCATU) have an over-allotment option in its IPO?
Yes. The underwriters have a 45-day option to purchase up to 1,125,000 additional units of Southern Cross Acquisition II Corp. to cover any over-allotments in connection with the IPO.

When is the SCATU IPO expected to close and who is the book-runner?
The offering is expected to close on August 27, 2026, subject to customary closing conditions. D. Boral Capital LLC is acting as the sole book-running manager for Southern Cross Acquisition II Corp.’s initial public offering.

What type of company is Southern Cross Acquisition II Corp. (SCATU) and what are its targets?
Southern Cross Acquisition II Corp. is a blank check company formed to effect a business combination such as a merger or share exchange. Its target search is not limited to any particular industry or geographic region.

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EXHIBIT 99.1 

 

SOUTHERN CROSS ACQUISITION II CORP. ANNOUNCES PRICING OF $75 MILLION INITIAL PUBLIC OFFERING

 

NEW YORK CITY, NY / ACCESS Newswire / August 25, 2026 / – Southern Cross Acquisition II Corp. (NASDAQ: SCATU) (“SCAT”) announced the pricing of its initial public offering (the “IPO”) of 7,500,000 units at $10.00 per unit. The units are expected to trade on the Nasdaq Capital Market (“Nasdaq”) under “SCATU” beginning August 26, 2026. Each unit consists of one ordinary share, one redeemable warrant, and one right to receive one-fourth of one ordinary share upon consummation of an initial business combination. Each whole redeemable warrant entitles the holder thereof to purchase one ordinary share at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the ordinary shares, warrants and rights are expected to be listed on Nasdaq under "SCAT," “SCATW,” and "SCATR," 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 1,125,000 additional units to cover any over-allotments.

 

The offering is expected to close on August 27, 2026, subject to customary closing conditions.

 

A registration statement on Form S-1 (File No. 333-297331) for these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on August 25, 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. Copies of the registration statement can also be obtained by visiting EDGAR on the SEC’s website at www.sec.gov.

 

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 Southern Cross Acquisition II Corp.

 

SCAT is a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. SCAT’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 SCAT’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 SCAT’s control, including those in the Risk Factors section of SCAT’s registration statement filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. SCAT disclaims any obligation to release publicly updates or revisions to any forward-looking statements to reflect any change in SCAT's expectations, except as required by law.

 

Contact

 

SOUTHERN CROSS ACQUISITION II CORP.

Ally Tong Zhang

Chief Executive Officer

allyz@southerncross.cc

 

Source: View Original Filing on SEC EDGAR

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