Safeguard Acquisition Corp (SAC) is a blank-check special purpose acquisition company that raised $230,000,000 in an initial public offering closed December 8, 2025, with the proceeds held in a Trust Account at $10.00 per Unit. The company generates no operating revenue. Its sole stated purpose is to identify and complete a single business combination, with a target focus on the global defense sector, including unmanned systems, counter-unmanned and electronic warfare, cybersecurity, government IT, and next-generation defense platforms. Until a business combination is completed, Trust Account funds are held in U.S. government treasury obligations with maturities of 185 days or less or qualifying money market funds, earning interest at an annual effective rate of 3.6% for the period from inception (June 27, 2025) through December 31, 2025. Transaction costs totaled $14,360,472, consisting of a $4,600,000 cash underwriting fee, $9,200,000 deferred underwriting fee, and $560,472 in other offering costs. Jefferies LLC served as representative of the underwriters.

Revenue model

No operating revenue as of December 31, 2025. Interest earned on Trust Account funds ($526,196 for the period from inception June 27, 2025 through December 31, 2025) is the only income recognized. All Trust Account proceeds are reserved for the eventual business combination.

Products and services

No products or services as of December 31, 2025. Target acquisition sectors identified in the 10-K include unmanned aerial vehicles, unmanned surface vessels, unmanned underwater vehicles, counter-unmanned and electronic warfare systems, sixth-generation fighter programs, hypersonic weapons, autonomous combat systems, cybersecurity, AI/ML defense platforms, government IT modernization, and national security services.

Customers and end markets

No customers as of December 31, 2025. Intended end markets post-combination are U.S. Department of Defense, allied government defense agencies, and national security technology providers.

Value-chain role

Blank-check acquisition vehicle. Raises public capital via IPO, holds funds in trust, and deploys capital to acquire an operating defense or government solutions business.

Geographic exposure

Incorporated as a Cayman Islands entity as of the 10-K filing date. Primary target market identified as U.S. defense and allied government sectors. Filing does not specify a headquarters city.

Source: SEC 10-K, filed 2026-03-04

Industry: Blank Checks