Cayson Acquisition Corp Announces Closing of $60,000,000 Initial Public Offering
Cayson Acquisition Corp has successfully closed its initial public offering (IPO) of 6,000,000 units at $10.00 per unit, raising gross proceeds of $60,000,000. The company's units, trading under the ticker symbol 'CAPNU' on the Nasdaq Global Market, consist of one ordinary share and one right to receive one-tenth of an ordinary share upon completion of an initial business combination.
As a blank check company, Cayson Acquisition Corp aims to merge, acquire, or combine with businesses primarily located in Asia. Led by Chairman and CEO Yawei Cao, the company has placed the entire $60,000,000 proceeds in trust. EarlyBirdCapital acted as the book-running manager, with Revere Securities as co-manager. The underwriters have a 45-day option to purchase up to 900,000 additional units to cover over-allotments.
Cayson Acquisition Corp ha concluso con successo la sua offerta pubblica iniziale (IPO) di 6.000.000 unità a $10,00 per unità, raccogliendo proventi lordi di $60.000.000. Le unità della società, quotate con il simbolo ticker 'CAPNU' sul Nasdaq Global Market, consistono in una azione ordinaria e un diritto di ricevere un decimo di un'azione ordinaria al completamento di una combinazione commerciale iniziale.
Come società di assegno in bianco, Cayson Acquisition Corp ha l'obiettivo di fondersi, acquisire o combinarsi con aziende situate principalmente in Asia. Guidata dal Presidente e CEO Yawei Cao, la società ha posto l'intero importo di $60.000.000 in un fondo fiduciario. EarlyBirdCapital ha agito come gestore principale dell'operazione, con Revere Securities in qualità di co-gestore. Gli underwriters hanno un'opzione di 45 giorni per acquistare fino a 900.000 unità aggiuntive per coprire le sovrallocazioni.
Cayson Acquisition Corp ha cerrado con éxito su oferta pública inicial (IPO) de 6,000,000 unidades a $10.00 por unidad, recaudando ingresos brutos de $60,000,000. Las unidades de la compañía, que cotizan bajo el símbolo de ticker 'CAPNU' en el Nasdaq Global Market, consisten en una acción ordinaria y un derecho a recibir una décima parte de una acción ordinaria una vez completada una combinación empresarial inicial.
Como compañía de cheques en blanco, Cayson Acquisition Corp tiene como objetivo fusionarse, adquirir o combinarse con empresas ubicadas principalmente en Asia. Dirigida por el Presidente y CEO Yawei Cao, la compañía ha depositado la totalidad de los $60,000,000 en un fideicomiso. EarlyBirdCapital actuó como el administrador principal de la operación, con Revere Securities como co-administrador. Los suscriptores tienen una opción de 45 días para comprar hasta 900,000 unidades adicionales para cubrir sobreasignaciones.
Cayson Acquisition Corp는 단위당 $10.00에 6,000,000 개의 유닛으로 초기 공개 모집(IPO)를 성공적으로 마감하여 총 $60,000,000의 수익을 올렸습니다. 이 회사의 유닛은 나스닥 글로벌 마켓에서 'CAPNU' 티커 심볼로 거래되며, 하나의 보통주와 초기 사업 결합 완료 시 보통주의 1/10을 받을 수 있는 권리로 구성되어 있습니다.
블랭크 체크 회사인 Cayson Acquisition Corp는 주로 아시아에 위치한 기업과의 합병, 인수 또는 결합을 목표로 하고 있습니다. 회장 겸 CEO인 Yawei Cao가 이끌고 있는 이 회사는 전체 $60,000,000의 수익금을 신탁에 배치했습니다. EarlyBirdCapital은 북런닝 매니저로 활동하였으며, Revere Securities는 공동 매니저로 참여했습니다. 인수인들은 45일 동안 900,000개의 추가 유닛을 구매할 수 있는 옵션을 가집니다.
Cayson Acquisition Corp a réussi à clôturer son introduction en bourse (IPO) initiale de 6.000.000 unités à 10,00 $ l'unité, levant ainsi un produit brut de 60.000.000 $. Les unités de la société, négociées sous le symbole ticker 'CAPNU' sur le Nasdaq Global Market, sont constituées d'une action ordinaire et d'un droit de recevoir un dixième d'une action ordinaire une fois qu'une combinaison d'entreprise initiale est réalisée.
En tant que société de chèque en blanc, Cayson Acquisition Corp vise à fusionner, acquérir ou combiner des entreprises principalement situées en Asie. Dirigée par le Président et CEO Yawei Cao, la société a placé l'intégralité des 60.000.000 $ de recettes en fiducie. EarlyBirdCapital a agi en tant que gestionnaire principal, avec Revere Securities comme co-gestionnaire. Les souscripteurs ont une option de 45 jours pour acheter jusqu'à 900.000 unités supplémentaires pour couvrir les surallocations.
Cayson Acquisition Corp hat erfolgreich seine erste öffentliche Aktienemission (IPO) von 6.000.000 Einheiten zu je 10,00 $ pro Einheit abgeschlossen und dabei einen Bruttoerlös von 60.000.000 $ erzielt. Die Einheiten des Unternehmens, die unter dem Tickersymbol 'CAPNU' am Nasdaq Global Market gehandelt werden, bestehen aus einer Stammaktie und einem Recht auf Erhalt von einem Zehntel einer Stammaktie nach Abschluss einer ersten Unternehmenskombination.
Als Blankoscheck-Unternehmen hat Cayson Acquisition Corp das Ziel, mit Unternehmen zusammenzuarbeiten, die hauptsächlich in Asien ansässig sind. Das Unternehmen wird von Chairman und CEO Yawei Cao geleitet und hat die gesamten Einnahmen von 60.000.000 $ in einen Treuhandfonds gelegt. EarlyBirdCapital fungierte als Bookrunner-Manager, während Revere Securities als Co-Manager tätig war. Die Underwriter haben eine 45-tägige Option, bis zu 900.000 zusätzliche Einheiten zum Ausgleich von Überallokationen zu kaufen.
- Successful IPO raising $60 million in gross proceeds
- Listing on Nasdaq Global Market under ticker 'CAPNU'
- Full proceeds of $60 million placed in trust
- 45-day option for underwriters to purchase additional 900,000 units
- None.
Insights
The successful $60 million IPO of Cayson Acquisition Corp marks a significant event in the SPAC (Special Purpose Acquisition Company) market. With
Key points to consider:
- The $10 per unit pricing is standard for SPACs, indicating market confidence in the management team.
- The inclusion of rights (1/10 of a share per unit) provides additional value for initial investors.
- The 45-day over-allotment option for underwriters could potentially increase the trust by up to
$9 million if fully exercised. - Investors should closely monitor management's progress in identifying and executing a business combination within the typical 18-24 month timeframe.
While SPACs have faced increased scrutiny, this successful IPO suggests continued investor appetite for well-structured blank check companies with a focus on high-growth regions like Asia.
Cayson Acquisition Corp's IPO reflects ongoing interest in the SPAC market, particularly for vehicles targeting Asian opportunities. Several factors make this offering noteworthy:
- The Asia focus aligns with investor interest in high-growth emerging markets, potentially offering access to companies not easily available through traditional public markets.
- The flexible mandate ("not to a particular industry") allows management to cast a wide net, which could be advantageous in a dynamic market environment.
- The involvement of EarlyBirdCapital as book-runner lends credibility, given their experience in the SPAC sector.
Investors should watch for:
- Management's progress in deal sourcing and due diligence
- Potential competition from other Asia-focused SPACs
- Regulatory developments in both U.S. and Asian markets that could impact SPAC transactions
Overall, this IPO represents a new opportunity for investors to gain exposure to potential high-growth Asian targets through a U.S.-listed vehicle.
NEW YORK, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Cayson Acquisition Corp (the “Company”) announced today that it closed its initial public offering of 6,000,000 units at
The Company’s units are listed on the Nasdaq Global Market (“Nasdaq”) and commenced trading under the ticker symbol “CAPNU” on September 20, 2024. Each unit consists of one ordinary share and one right entitling its holder to receive one tenth of one ordinary share upon the Company’s completion of an initial business combination. Once the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on Nasdaq under the symbols “CAPN” and “CAPNR,” respectively.
The Company is a Cayman exempt company, formed as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Company intends to focus its search for a target business on entities located throughout Asia but will not be limited to a particular industry or geographic location. The Company is led by its Chairman of the Board and Chief Executive Officer, Yawei Cao.
Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units,
EarlyBirdCapital, Inc. acted as the book-running manager for the offering and Revere Securities acted as co-manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 900,000 units at the initial public offering price to cover over-allotments, if any. The offering was made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from EarlyBirdCapital, Inc., 366 Madison Avenue, New York, New York 10017, Attention: Syndicate Department, or (212) 661-0200.
A registration statement relating to these securities was filed with the Securities and Exchange Commission (the “SEC”) and was declared effective on September 19, 2024. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of net proceeds. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact:
Taylor Zhang
taylorzhang@caysonspac.com
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