AACP is a blank check company that completed an Initial Public Offering on April 8, 2026, raising gross proceeds of $172,500,000 from the sale of 17,250,000 units at $10.00 per unit, including full exercise of the underwriters' over-allotment option. The company also completed a concurrent private placement of 470,000 units to its Sponsor at $10.00 per unit, generating an additional $4,700,000. As a special purpose acquisition company (SPAC), it does not operate an underlying business and generates no operating revenue. Its structure is designed to identify and consummate a business combination with an unspecified target. Transaction costs totaled $8,972,198 as of the IPO closing, including a $6,000,000 deferred underwriter fee. The filing covers the quarter ended March 31, 2026, prior to the IPO close, and the company reported a shareholder deficit position as of that date.
Blank check SPAC structure. Class A ordinary shares and warrants (with warrant strike price of $11.50) included in IPO units. Private placement units sold to Sponsor.
AACP generates no operating revenue. Capital is raised through an IPO and private placement, with proceeds held in trust pending a business combination. The deferred underwriter fee of $6,000,000 is payable upon consummation of a qualifying acquisition.
The filing does not disclose target industries, customer types, or end markets for a prospective acquisition.
The filing does not specify a geographic focus for acquisition targets.
Source: SEC 10-Q, filed 2026-05-15
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