Southern Cross Acquisition II closes $76.5M IPO on Nasdaq

Southern Cross Acquisition II Corp. (NASDAQ: SCATU) closed its initial public offering of 7,652,630 units at $10.00 per unit, raising $76,526,300 in gross proceeds before deducting underwriting discounts and estimated offering expenses, according to a press release.

The total includes the partial exercise of an underwriters' option to purchase an additional 152,630 units to cover over-allotments. Units began trading on the Nasdaq Capital Market under the ticker symbol "SCATU" on August 26, 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 begin trading separately, the ordinary shares, warrants, and rights are expected to trade on Nasdaq under "SCAT," "SCATW," and "SCATR," respectively.

Concurrent with the IPO closing, the company completed a private placement of 224,932 units at $10.00 per unit, generating gross proceeds of $2,249,320. Approximately $76,717,616, or $10.025 per public unit, was placed in trust from the combined net proceeds.

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 advised D. Boral Capital LLC.

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

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