Cambridge Acquisition Prices $200M IPO with $11.50 Warrants
Cambridge Acquisition Corp. sold 20 million units at $10 each in a $200 million IPO, with each unit comprising one Class A share and one-third of a warrant exercisable at $11.50. Nasdaq Global Market trading under CAQUU begins February 6, 2026, and underwriters have a 45-day option to purchase 3 million additional units.
1. IPO Structure and Pricing
Cambridge Acquisition Corp. offered 20 million units at $10.00 each, raising $200 million. Each unit contains one Class A ordinary share and one-third of a redeemable warrant, equating to one full warrant per three units, with an exercise price of $11.50 per share.
2. Trading and Listing Details
Units begin trading on the Nasdaq Global Market under the ticker CAQUU on February 6, 2026. Upon separation, the shares and warrants will trade under CAQ and CAQUW, respectively, with only whole warrants issued and traded.
3. Underwriting and Overallotment
BTIG, LLC serves as sole book-running manager and has a 45-day option to purchase up to 3 million additional units at the IPO price to cover potential over-allotments. The offering is expected to close on February 9, 2026, subject to customary conditions.
4. Management and SPAC Purpose
Led by Chairman Michael Cam-Phung, CEO Brent Michael Cox and CFO Anthony Michael Naimo, the Cayman-islands-exempted SPAC will seek a business combination target, including mergers, acquisitions or share purchases, using IPO proceeds and potential additional financing.