Averin Capital Acquisition Corp. has priced its initial public offering at $10 per unit, selling 25 million units and raising $250 million in total. The sponsor-formed blank-check company expects its units to start trading on NASDAQ under the symbol ACAAU on February 19, 2026.
Each unit issued in the offering contains one Class A ordinary share and one-sixth of a redeemable warrant. When combined into whole warrants, holders would be able to exercise each warrant to purchase one Class A ordinary share at an exercise price of $11.50 per share.
The company indicated the offering is expected to close on February 20, 2026, subject to customary closing conditions. Alongside the primary allotment, Averin Capital has granted the underwriters a 45-day over-allotment option to buy up to an additional 3.75 million units at the IPO price to cover over-allotments.
Once the units begin trading and the constituent securities start to trade separately, the Class A ordinary shares are expected to trade under the symbol ACAA and the warrants under ACAAW.
Averin Capital is a special purpose acquisition company organized to seek mergers or other business combinations. The company has stated it intends to target opportunities in the technology and health sectors.
Management and governance are led by Chairman and Chief Executive Officer David A. Berry and Chief Financial Officer and Secretary Alex Lau. The board of directors includes Ulrik Schulze, Graeme Bell, and Mary T. Szela.
Deutsche Bank Securities Inc. is serving as the sole book-running manager for the offering. At closing, an amount equal to $10 per unit will be deposited into a trust account.
Summary
Averin Capital priced 25 million units at $10 each, raising $250 million. Units are composed of one Class A ordinary share plus one-sixth of a redeemable warrant, with whole warrants exercisable at $11.50. Trading of units is expected to begin on NASDAQ under ACAAU on February 19, 2026, and the offering is expected to close February 20, 2026, subject to customary closing conditions.
Key details
- Offering size: 25 million units at $10 per unit, totaling $250 million.
- Unit composition: one Class A ordinary share and one-sixth of one redeemable warrant; whole warrants exercisable at $11.50 per share.
- Expected trading: units under ACAAU starting February 19, 2026; Class A shares and warrants to trade later under ACAA and ACAAW.
- Over-allotment: underwriters have a 45-day option to purchase up to 3.75 million additional units.
- Use and focus: formed as a SPAC to pursue mergers or business combinations, with focus on technology and health opportunities.
- Management and board: David A. Berry (Chairman and CEO), Alex Lau (CFO and Secretary); directors Ulrik Schulze, Graeme Bell, Mary T. Szela.
- Book-runner: Deutsche Bank Securities Inc.; $10 per unit to be deposited into a trust account at closing.
Key points
- The IPO raises $250 million through the sale of 25 million units at $10 each, providing capital for future business combinations in technology and health sectors.
- Unit structure includes equity exposure plus fractional warrants, with whole warrants exercisable at $11.50, offering potential incremental equity upside depending on future share performance.
- Market mechanics include a 45-day over-allotment option for underwriters and planned separate trading of shares and warrants under ACAA and ACAAW once the securities separate.
Risks and uncertainties
- The offering is expected to close subject to customary closing conditions, meaning the finalization of the IPO is not unconditional.
- The underwriters hold a 45-day option to buy additional units, which could increase outstanding supply if exercised.
- As a special purpose acquisition company formed to pursue mergers or business combinations, the company’s future depends on identifying and completing suitable transactions in its stated focus areas of technology and health.