Southern Cross II SPAC prices $75 million unit IPO
Southern Cross II priced 7.5 million $10 units. Each includes a share, a whole warrant and a quarter-share right linked to a business combination.
Blank-check SPAC terms — 2026-08-25
Southern Cross Acquisition II announced on 25 August 2026 that it priced 7,500,000 units at $10 each. Nasdaq Capital Market trading under SCATU was expected on 26 August, with closing on 27 August subject to conditions. Each unit combines one ordinary share, a redeemable warrant and a right to one-quarter of a share at a business combination. A whole warrant has an $11.50 exercise price.
How to read the structure
This is a blank-check SPAC financing, so buyers initially fund an acquisition vehicle rather than an established operating company. The three-part security makes the unit price an incomplete guide to the later value of a standalone share. Rights can add shares at a merger without the same exercise payment required by warrants. Readers should examine the eventual share count, redemption mechanics and sponsor economics together. Cash collected in a financing is not operating revenue. The decisive later event is a proposed acquisition with financial statements and transaction terms that make the underlying business assessable.