ARC Group Acquisition I Corp, a special purpose acquisition company (SPAC), announced the pricing of its initial public offering of 10,500,000 units at a price of $10.00 per unit, generating gross proceeds of $105,000,000. The offering is expected to close on May 3, 2026.
Each unit consists of one share of Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase one share of Class A common stock at a price of $11.50 per share. The units are listed on the Nasdaq Global Market under the ticker symbol 'ARCKU'.
The SPAC intends to focus its search for a target business in the technology, media, and telecommunications sectors, particularly in Asia. The company is led by CEO and Chairman David K. B. Lee.
Maxim Group LLC acted as the sole book-running manager for the offering. The company has granted the underwriters a 45-day option to purchase up to an additional 1,575,000 units to cover over-allotments.
