Arca Nova Acquisition Corp

S-1 filed

Price $10.00

Arca Nova Acquisition Corp's S-1 filing details its initial public offering (IPO) of 10,000,000 units at $10.00 per unit, underwritten by Maxim Group LLC. The offering includes an over-allotment option for 1,500,000 additional units. Key terms include a public offering price of $10.00, underwriting discounts of $0.15 per unit, and proceeds of $9.85 per unit. The filing outlines lock-up agreements for founders, directors, and sponsors, with restrictions lasting 180 days post-IPO. Deferred compensation shares (100,000-115,000) will be issued to Maxim upon completion of a business combination. The company plans to list units on NYSE under [ANAC]U, with ordinary shares and warrants to follow. Stabilization activities, including over-allotment and syndicate-covering transactions, are permitted. A right of first refusal for Maxim is granted for future financings, and a tail clause ensures compensation for Maxim in specific post-IPO financings.

DRS filed

Arca Nova Acquisition Corp is conducting an initial public offering (IPO) with an offering price of $10.00 per unit, underwritten by Maxim. The offering includes an over-allotment option allowing underwriters to purchase up to 1,500,000 additional units. Lock-up agreements restrict transfers of founder shares and private units until specific conditions are met, including a 6-month period post-business combination or market price thresholds. The company intends to list units on the NYSE under the symbol [ANAC]U, with ordinary shares and rights expected to follow. Deferred representative shares and stabilization activities are outlined, along with risks related to market volatility and underwriter discretion.