American Drive Acquisition prices $200 million IPO at $10 per unit

American Drive Acquisition Company announced the pricing of its initial public offering of 20 million units at $10.00 per unit, raising $200 million. The blank check company expects its units to begin trading on the Nasdaq Global Market under ticker symbol "ADACU" on December 18, 2025.

Each unit consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant allows the holder to purchase one Class A ordinary share at $11.50 per share. The company expects its Class A ordinary shares and warrants to trade separately under symbols "ADAC" and "ADACW" respectively once separate trading begins.

The offering is expected to close on December 19, 2025, subject to customary closing conditions. Cantor Fitzgerald & Co. serves as sole book-running manager for the offering and has a 45-day option to purchase up to 3 million additional units to cover over-allotments.

The company intends to focus on American companies in the defense, logistics, transportation, technology and artificial intelligence sectors for potential business combinations. American Drive Acquisition was formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

The Securities and Exchange Commission declared the company's registration statement effective on December 17, 2025. The information is based on a company press release.

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