Alpex Acquisition Corporation completed its initial public offering on June 26, 2026, raising gross proceeds of $115,000,000 before the deduction of underwriting discounts and offering expenses, according to the filing announcing the transaction.
The offering comprised 11,500,000 units sold at $10.00 each, which reflects the inclusion of the full exercise of an overallotment option for 1,500,000 units. Trading of the units commenced on the Nasdaq Global Market under the ticker ALPXU on June 25, 2026.
Each unit issued in the offering includes three components: one Class A ordinary share, one redeemable warrant, and one right entitling the holder to one-fourth of a Class A ordinary share upon completion of an initial business combination. The redeemable warrants attached to the units carry an exercise price of $11.50 per share.
The company has indicated that, following the separation of the constituent instruments, the Class A ordinary shares, warrants and rights are expected to trade independently on Nasdaq under the symbols ALPX, ALPXW and ALPXR, respectively.
In parallel with the public offering, Alpex completed a private placement of 187,500 units priced at $10.00 per unit, producing gross proceeds of $1,875,000. Proceeds from the public offering and the private placement - totaling $115,000,000 - have been deposited into a trust account.
D. Boral Capital LLC acted as the sole book-running manager for the offering. Legal counsel for the company was provided by Robinson & Cole LLP, while Rimon, P.C. served as counsel to D. Boral Capital.
Alpex Acquisition is organized as a blank check company under the laws of the Cayman Islands. The firm was formed to pursue a merger, share exchange, asset acquisition, purchase of securities or similar business combination. The company has not limited its search to any specific industry or geographic region and has not identified a target at the time of the offering.
Offering mechanics and market structure
The unit structure - combining shares, warrants and rights - is designed to provide investors with exposure to both equity and potential upside through exercised warrants, while rights offer an allocation mechanism tied to the company completing a qualifying business combination. The exercise price for the redeemable warrants is set at $11.50 per share.
Next steps
With proceeds secured and held in trust, Alpex will continue its search for a suitable transaction. The company may, at a future date, list the separated Class A shares, warrants and rights under their respective Nasdaq symbols pending the administrative steps required for those instruments to trade individually.