Standard SPAC IPO with no target identified. Monitor for business combination announcements within the 12-month window. The units begin trading on Nasdaq under APURU; separate trading of shares (APUR) and rights (APURR) expected on the 52nd day post-prospectus. No immediate trading catalyst beyond the listing itself.
Executive Summary
Aperture AC completed its $90M SPAC IPO, pricing 9,000,000 units at $10.00/unit on May 20, 2026, with delivery expected May 22, 2026. The blank-check company has no operations, no target selected, and plans to focus on digital asset infrastructure. Proceeds of $90,225,000 will be held in trust pending a business combination within 12 months.
Key Financial Metrics
Key Facts
- 9,000,000 units priced at $10.00/unit for gross proceeds of $90,000,000
- Each unit consists of one Class A ordinary share and one right to receive 1/4 Class A share post-business combination
- $90,225,000 deposited into trust account ($10.025 per unit)
- Underwriters have 30-day option for up to 1,350,000 additional units
- Sponsor and underwriters purchasing 290,000 private placement units at $10.00/unit ($2,900,000 total)
- Sponsor holds 3,828,082 founder shares purchased for $25,000 (~$0.007/share)
- 12-month window to complete initial business combination
- Units to trade on Nasdaq under APURU; Class A shares under APUR; rights under APURR
- Underwriters: IB Capital LLC, EarlyBirdCapital, Inc., I-Bankers Securities, Inc.
- Underwriting discount of $0.15/unit ($1,350,000 total) plus 450,000 representative shares
Financial Impact
$90,000,000 gross IPO proceeds; $90,225,000 in trust ($10.025/unit); $600,000 working capital outside trust
Risk Factors
- No target selected; may fail to find suitable business combination within 12 months
- Immediate and substantial dilution for public shareholders due to sponsor's nominal cost for founder shares ($0.007 vs $10.00)
- Sponsor and management have conflicts of interest; may prioritize completing any deal over shareholder value
- Anti-dilution provisions on founder shares could cause additional dilution in a business combination
- If no business combination completed, public shareholders receive ~$10.025/share and rights expire worthless
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B4 Filing (Primary) | 0001213900-26-060082 |
| Document: 0001213900-26-060082-index-headers.html | 0001213900-26-060082 |
| Document: 0001213900-26-060082-index.html | 0001213900-26-060082 |
| Document: 0001213900-26-060082.txt | 0001213900-26-060082 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 9, 2026 18d ago | SC 13G/A | $10.04 $10.05 | ▲ +0.10% | ▲ +2.07% | $10.05 (+0.10%) |
Oct 7, 2026 20d ago | 425 | $10.04 $10.05 | ▲ +0.10% | ▲ +1.08% | $10.05 (+0.10%) |
Oct 7, 2026 20d ago | 8-K | $10.04 $10.05 | ▲ +0.10% | ▲ +1.08% | $10.05 (+0.10%) |
Sep 30, 2026 27d ago | 425 | $10.04 $10.04 | · 0.00% | ▼ −1.91% | $10.05 (+0.10%) |
Sep 30, 2026 27d ago | 8-K | $10.04 $10.04 | · 0.00% | ▼ −1.91% | $10.05 (+0.10%) |
Sep 30, 2026 27d ago | Press Release | $10.04 $10.04 | · 0.00% | ▼ −1.91% | $10.05 (+0.10%) |
Sep 16, 2026 5w ago | 425 | $10.02 $10.03 | ▲ +0.07% | ▼ −0.53% | $10.05 (+0.27%) |
Sep 16, 2026 5w ago | 8-K | $10.02 $10.03 | ▲ +0.07% | ▼ −0.53% | $10.05 (+0.27%) |
Sep 11, 2026 6w ago | 425 / 8-K | $10.03 $10.04 | ▲ +0.10% | ▲ +0.32% | $10.05 (+0.20%) |
Jun 17, 2026 18w ago | 3 | $9.90 $9.90 | · 0.00% | ▲ +1.67% | $10.05 (+1.52%) |
US Market Status
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