Southern Cross Acquisition closes $115M IPO on Nasdaq

Southern Cross Acquisition I Corp. (NASDAQ: NCOOU) closed its initial public offering of 11,500,000 units at $10.00 per unit, generating gross proceeds of $115,000,000 before underwriting discounts and offering expenses, according to a press release dated July 22, 2026.

The offering includes the full exercise of an underwriters' option to purchase an additional 1,500,000 units to cover over-allotments. Units began trading on the Nasdaq Global Market under the ticker "NCOOU" on July 21, 2026. Each unit consists of one ordinary share, one redeemable warrant, and one right to receive one-fourth of one ordinary share upon completion of an initial business combination. Each redeemable warrant carries an exercise price of $11.50 per share.

Once the units separate, the ordinary shares, warrants, and rights are expected to trade on Nasdaq under "NCO," "NCOOW," and "NCOOR," respectively.

Concurrent with the IPO, the company closed a private placement of 239,300 units at $10.00 per unit, raising gross proceeds of $2,393,000. The full $115,000,000 in net proceeds from both offerings was placed in trust at $10.00 per public unit.

D. Boral Capital LLC served as sole book-running manager. Robinson & Cole LLP acted as legal counsel to the company, and Norton Rose Fulbright US LLP served as legal counsel to D. Boral Capital LLC.

Southern Cross Acquisition I Corp. is a blank check company incorporated in the Cayman Islands, formed to pursue a merger or similar business combination. The company has not limited its target search to any particular industry or geographic region.

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