Shepherd Ave Capital Acquisition Corp Secures $75 Million IPO

Shepherd Ave Capital Acquisition Corporation's IPO Pricing

Shepherd Ave Capital Acquisition Corporation (NASDAQ: SPHAU), a newly formed blank check company, has successfully priced its initial public offering (IPO) at an impressive $75 million. Each of the 7,500,000 units will be priced at $10.00, paving the way for substantial financial opportunities in the market.

Understanding the Structure of the Offering

The units being offered will be listed on the Nasdaq Global Market under the ticker symbol "SPHAU," set to commence trading shortly. Each unit is composed of one Class A ordinary share and one right. This right entitles the holder to receive one-fifth of a Class A ordinary share upon the successful completion of a business combination. It's important to note that only whole rights will be available for trading.

Listing and Trading Details

After the initial units start trading, the Class A ordinary shares and rights will also be distinguishably listed on Nasdaq under the respective symbols “SPHA” for the shares and “SPHAR” for the rights. This prepares investors for a structured trading experience where they can engage with the offered securities effectively.

Expected Closing and Additional Units

The closing of the offering is anticipated to occur soon, subject to fulfilling all customary conditions that are standard in such transactions. Shepherd Ave Capital Acquisition Corporation has also provided its underwriters with a 45-day option to purchase an additional 1,125,000 units, ensuring flexibility to address any over-allotments that may arise.

Role of SPAC Advisory Partners LLC

Integral to the IPO process is SPAC Advisory Partners LLC, a division of Kingswood Capital Partners, LLC, which acts as the sole book running manager for this transaction. Their expertise guides the company through the IPO landscape, ensuring a seamless offering.

Background on Shepherd Ave Capital Acquisition Corporation

Shepherd Ave Capital Acquisition Corporation operates as an innovative entity formed in the Cayman Islands with the primary goal of merging with, acquiring assets from, or re-organizing one or more businesses. The company aims to target entities distinguished by strong management teams and notable growth potential in their sectors, seeking long-term revenue visibility and stability.

Identifying Target Companies

The company is particularly interested in businesses that stand out due to their unique market positions and the advantages of being publicly traded. Through its strategic approach, the company seeks to provide robust returns to its investors.

Company Sponsor Insight

Aitefund Sponsor LLC is the esteemed sponsor of Shepherd Ave Capital Acquisition Corporation, contributing its wealth of experience and insight into identifying suitable business combination partners.

Company Contact Information

For any inquiries regarding the IPO or additional information about the company, potential investors can contact William W. Snyder, the CEO. He can be reached directly at 221 W 9th St, #859, Wilmington, DE 19801 or via email.

Frequently Asked Questions

What is the total amount raised by Shepherd Ave Capital Acquisition Corporation?

The company has successfully priced its IPO at $75 million by offering 7,500,000 units at $10.00 each.

What does each unit in the offering consist of?

Each unit comprises one Class A ordinary share and one right to potentially receive additional shares upon business combination.

When will the units begin trading on Nasdaq?

The units are expected to begin trading shortly after the closing of the offering.

Who is responsible for managing the IPO?

SPAC Advisory Partners LLC is acting as the sole book running manager for the IPO.

What is the purpose of the blank check company structure?

Blank check companies, like Shepherd Ave Capital, are set up to acquire or merge with existing companies, providing a pathway for those entities to become publicly traded.

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