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SUMA Acquisition Corporation announced that investors will soon be able to trade its securities separately rather than only as bundled units. Beginning April 20, 2026, holders of the units from its initial public offering can elect to trade the Class A ordinary shares and the rights independently.
The units will continue to trade on the Nasdaq Global Market under the symbol SUMAU, while the separated Class A ordinary shares and rights are expected to trade under SUMA and SUMAR, respectively. Each right entitles its holder to receive one-fifth of a Class A ordinary share upon completion of an initial business combination, and only whole rights will trade.
SUMA Acquisition Corporation completed its SPAC IPO, raising $172,500,000 through the sale of 17,250,000 units at $10.00 per unit on March 12, 2026. Each unit includes one Class A ordinary share and one right to receive one-fifth of a Class A share after a future business combination.
The company also sold 446,250 private placement units for $4,462,500 to its sponsors and the underwriters. A total of $172,500,000 was placed in a U.S. trust account to back redemptions at $10.00 per public share, while transaction costs were $10,153,693. As of March 12, 2026, SUMA reported total assets of $174,059,798, including $1,539,691 of cash outside the trust and a shareholders’ deficit of $5,780,235, and has up to 24 months from the IPO closing to complete an initial business combination before liquidating.
SUMA Acquisition Corp's sponsors and CEO report a significant ownership position in the SPAC. The reporting group, including Naseem Saloojee and related sponsor entities, beneficially owns 6,066,875 ordinary shares, representing 26.02% of SUMA Acquisition Corp, based on 316,875 Class A shares and 5,750,000 Class B shares outstanding as of March 12, 2026.
Class B founder shares are automatically convertible into Class A on a one-for-one basis in connection with the initial business combination. The sponsors acquired founder shares at approximately $0.004 per share and 316,875 private placement units at $10.00 per unit, for an aggregate purchase price of $3,193,750.
The sponsors and Mr. Saloojee have agreed to vote their founder shares, placement shares and certain other shares in favor of any proposed business combination, not redeem those shares, and to honor lock-up and registration rights arrangements typical for SPAC sponsorship structures.
SUMA Acquisition Corporation Schedule 13G: Millennium Management LLC, Millennium Group Management LLC and Israel A. Englander reported that they acquired beneficial ownership exceeding 5% of the Class A Ordinary Shares on March 11, 2026 but ceased to be beneficial owners of more than 5% by the date of this filing.
The cover pages show 650,000 shares and 3.7% listed for each reporting person, with shared voting power 650,000 and shared dispositive power 650,000. A Joint Filing Agreement dated March 17, 2026 is attached.
SUMA Acquisition Corp reported an insider-related open-market purchase of 316,875 Class A ordinary shares at $10.00 per share. The shares are held indirectly through private placement units by SUMA Sponsor LP and SUMA Canada II Sponsor LP, referred to as the Sponsors.
After this transaction, the Sponsors’ combined indirect holdings reported in this filing total 316,875 Class A shares. Chief Executive Officer and Chairman Naseem Saloojee, through his role with SUMA Management Corp as general partner of the Sponsors, may be deemed a beneficial owner but disclaims beneficial ownership beyond any pecuniary interest.
SUMA Acquisition Corporation completed its initial public offering of 17,250,000 units at $10.00 per unit, generating gross proceeds of $172,500,000. Each unit includes one Class A ordinary share and a right to receive one-fifth of a Class A share after a future business combination.
The company also sold 446,250 private placement units at $10.00 each for $4,462,500. In total, $172,500,000 from the IPO and private placement was deposited into a U.S. trust account for the benefit of public shareholders, generally to be released upon a business combination or mandated redemptions within 24 months. SUMA appointed a full board and committees, entered into indemnity agreements with directors and officers, and adopted amended and restated Cayman Islands charter documents in connection with the listing of its units on Nasdaq under the symbol SUMAU.
SUMA Acquisition Corp insiders filed an initial statement of beneficial ownership showing control of 5,750,000 Class B ordinary shares, all held indirectly through sponsor entities. These Class B "founder" shares are split between SUMA Sponsor LP with 1,513,340 shares and SUMA Canada Sponsor LP with 4,236,660 shares, with portions subject to forfeiture depending on the underwriters’ over-allotment option.
The Class B shares will automatically convert into an equal number of Class A ordinary shares upon SUMA’s initial business combination, or earlier at the holder’s option, with no expiration date. Naseem Saloojee controls SUMA Management Corp, the general partner of the sponsor limited partnerships, giving him indirect control over these holdings.
SUMA Acquisition Corp director Attar Audie filed an initial Form 3, which is a required disclosure when someone becomes an insider of a public company. This filing lists Audie as a director of SUMA Acquisition Corp but does not report any share purchases, sales, or other transactions.
SUMA Acquisition Corp filed an initial ownership report for Chief Financial Officer David Michael King. This Form 3 does not list any common stock or derivative holdings and shows no reported transactions. It simply establishes his status as an officer subject to insider reporting requirements going forward.
SUMA Acquisition Corp director Bogdan Cenanovic has filed an initial Form 3, which is a required statement of his beneficial ownership when becoming an insider. This filing does not report any stock purchases, sales, option exercises, or other share transfers; it simply establishes his insider status and disclosure obligations going forward.