SPACSphere Acquisition raises $172.5 million in nasdaq debut

SPACSphere Acquisition Corp. (NASDAQ: SSACU) completed its initial public offering on February 9, raising $172.5 million through the sale of 17.25 million units at $10.00 per unit. The offering included 2.25 million units from the full exercise of the underwriter's over-allotment option.

The units began trading on the Nasdaq Global Market on February 6 under the ticker symbol "SSACU." Each unit consists of one Class A ordinary share, one-half of one redeemable warrant, and one right to receive one-fifth of one Class A ordinary share upon completion of an initial business combination.

The company's Class A ordinary shares, warrants, and share rights are listed on Nasdaq under the symbols "SSAC," "SSACW," and "SSACR," respectively. D. Boral Capital LLC served as the sole bookrunner for the offering.

SPACSphere Acquisition Corp. is a blank check company formed to pursue a merger, share exchange, asset acquisition or similar business combination. The company plans to focus on industries including digital assets, technology, and healthcare.

The management team is led by Chief Executive Officer and Chairman Bala Padmakumar and Chief Financial Officer and Director Soumen Das. The board includes Kathleen Cuocolo, Magnus Ryde, and Mark Platshon.

Norton Rose Fulbright US LLP served as legal counsel to the company, while Loeb & Loeb LLP represented D. Boral Capital LLC. Conyers Dill & Pearman LLP acted as Cayman counsel.

The offering was conducted under an effective registration statement on Form S-1 filed with the Securities and Exchange Commission, which was declared effective on January 30.

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