Karman Line Acquisition closes $200M IPO on Nasdaq

Karman Line Acquisition Corp., a special purpose acquisition company based in Boca Raton, Fla., announced the closing of its $200 million initial public offering, selling 20,000,000 units at $10.00 per unit.

The units began trading on the Nasdaq Global Market under the ticker symbol NASDAQ: XTERU on Aug. 18, 2026. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share at $11.50 per share, subject to certain adjustments.

Once the securities begin separate trading, the company expects its Class A ordinary shares and warrants to trade on Nasdaq under the symbols NASDAQ: XTER and NASDAQ: XTERW, respectively.

The company stated it intends to focus on sectors aligned with space-based infrastructure, with an emphasis on aerospace and defense, though it may pursue a business combination in any industry or geography.

Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, served as book-running manager for the offering, with Clear Street LLC as co-book runner. The underwriters were granted a 45-day option to purchase up to 3,000,000 additional units at the IPO price to cover over-allotments.

The U.S. Securities and Exchange Commission declared the registration statement effective on Aug. 17, 2026.

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