Vernal Capital Acquisition Corp. is allowing investors to trade the components of its SPAC units separately. Beginning on or about May 19, 2026, holders may split their units into ordinary shares trading under the symbol VECA and rights trading under VECAR, while unsplit units will continue under VECAU on the New York Stock Exchange. To separate their holdings, investors must have their brokers contact Continental Stock Transfer & Trust Company, the company’s transfer agent. The company also issued a press release describing the start of separate trading and reiterating its focus on finding a business combination target in any industry or region.
Vernal Capital Acquisition Corp., a blank check company, has completed its initial public offering of 10,000,000 units at $10.00 each, raising gross proceeds of $100,000,000. Each unit includes one ordinary share and one right to receive one-fourth of an ordinary share after a future business combination.
Including 251,250 private units sold to sponsors, $100,500,000 has been placed in a U.S. trust account for the benefit of public shareholders. An audited balance sheet as of May 7, 2026 shows total assets of $101,518,073, mainly the trust cash, against modest current liabilities.
The auditor’s report and Note 1 highlight substantial doubt about Vernal Capital’s ability to continue as a going concern. The company must complete a qualifying business combination within 15 months from the IPO closing, or up to 21 months if extended, or it will be wound up and liquidated with public shares redeemed from the trust.
Vernal Capital Acquisition Corp. Schedule 13G reports that certain Harraden Circle entities and Frederick V. Fortmiller, Jr. beneficially own 822,831 Ordinary Shares representing 6.35% of the class (CUSIP G93Y7F122). The ownership is held indirectly through Harraden funds; shared voting and dispositive power of 822,831 shares is reported.
The filing lists Harraden Circle Investments, LLC; Harraden Circle Investors GP, LP; Harraden Circle Investors GP, LLC; Harraden Circle Investors, LP; Harraden Circle Special Opportunities, LP; Harraden Circle Strategic Investments, LP; Harraden Circle Concentrated, LP; and Frederick V. Fortmiller, Jr. as reporting persons. Signatures are dated 05/13/2026.
Vernal Capital Acquisition Corp. insider ownership is detailed in this Form 3 for Vernal One Ltd, which is identified as a ten percent owner. The filing reports that Vernal One Ltd holds 2,443,750 Ordinary Shares of Vernal Capital Acquisition Corp.
The footnote explains that Vernal One Ltd is a sponsor of the company and is the record holder of these securities. Jun Du is the sole member of Vernal One Ltd and has voting and investment discretion over the shares held by the sponsor.
Vernal Capital Acquisition Corp. director and officer Du Jun filed an initial ownership report showing indirect control over 2,443,750 Ordinary Shares. These shares are held of record by Vernal One Limited, described as a sponsor of the company, where Du Jun is the sole member with voting and investment discretion over the securities.
Vernal Capital Acquisition Corp. director THAM Saloon filed an initial Form 3, which is a statement of beneficial ownership for insiders. The filing shows no reportable transactions, meaning there were no buys, sells, or other equity trades disclosed at this time.