SPACSphere Acquisition Corp. completed its initial public offering by selling 17.25 million units at $10 per unit, generating gross proceeds of $172.5 million. The sale included 2.25 million units issued under the underwriter's over-allotment option.
The newly issued units began trading on the NASDAQ exchange on February 6, 2026. Each unit issued in the offering consists of three components: one Class A ordinary share, one-half of a redeemable warrant and one share right. The warrants permit holders to acquire Class A ordinary shares at a strike price of $11.50 per share. Share rights are structured to entitle holders to one-fifth of a Class A share upon the completion of a business combination.
Following the closing of the offering, SPACSphere deposited $10 per unit into a trust account as part of the transaction mechanics. The company indicated that, once the constituent securities trade separately, the Class A shares, warrants and share rights will use the trading symbols SSAC, SSACW and SSACR respectively.
SPACSphere positions itself as a special purpose acquisition company focused on identifying and combining with businesses in three specific areas: digital assets, technology and healthcare. The company's leadership team is led by Bala Padmakumar, who serves as both chief executive officer and chairman, and Soumen Das, who serves as chief financial officer. The board of directors includes Kathleen Cuocolo, Magnus Ryde and Mark Platshon.
D. Boral Capital LLC acted as the sole book-running manager for the offering. Legal counsel to SPACSphere was provided by Norton Rose Fulbright US LLP, while Loeb & Loeb LLP served as counsel to D. Boral.
The Securities and Exchange Commission declared SPACSphere's registration statement effective on January 30, 2026. The information in this report is based on a company press release statement accompanying the offering.
Clear summary
SPACSphere completed a $172.5 million IPO by selling 17.25 million units at $10 each, including 2.25 million units from an over-allotment. Units began trading on NASDAQ on February 6, 2026. The company placed $10 per unit into a trust account and will list the component securities under SSAC, SSACW and SSACR when they begin separate trading. The SPAC intends to pursue combinations in digital assets, technology and healthcare and named Bala Padmakumar as CEO and chairman and Soumen Das as CFO.