ACP Holdings Acquisition Corp. completed its initial public offering, selling 20 million units at $10.00 apiece and raising $200 million, the company announced. The offering closed on April 8, 2026.
Each unit issued in the IPO is composed of one Class A ordinary share and one-half of a redeemable warrant. When combined into a whole warrant, each warrant permits the holder to purchase one Class A ordinary share at a price of $11.50, subject to customary adjustments.
The units started trading on Nasdaq on April 7, 2026 under the symbol "ACGCU." The Class A ordinary shares and the warrants will trade separately at a later date, under the symbols "ACGC" and "ACGCW," respectively, once separate trading of those components begins.
In parallel with the public offering, ACP Holdings completed a private placement of 485,000 units at $10.00 per unit. Union Street Sponsor, LLC purchased 435,000 of those units, while Roth Capital Partners acquired 50,000 units. Combining the proceeds from the public and private placements, the company placed $201 million in trust.
ACP Holdings is organized as a blank check company formed to pursue a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination. The company indicated it is targeting target businesses with enterprise values of approximately $750 million or greater that align with management's private credit investment background.
The firm identified its sponsor as an entity affiliated with Atlas Credit Partners, described as a Houston-based investment manager that provides financing solutions to middle market companies. Roth Capital Partners acted as the sole book-running manager for the offering.
The Securities and Exchange Commission declared the company's registration statement effective on April 6, 2026. The company said the information released about the offering is based on its press release.
Summary of transaction terms
- Public offering: 20 million units at $10.00 per unit, raising $200 million
- Unit composition: one Class A ordinary share plus one-half redeemable warrant
- Warrant exercise price: $11.50 per whole warrant, subject to adjustment
- Private placement: 485,000 units at $10.00 per unit; Union Street Sponsor, LLC - 435,000 units; Roth Capital Partners - 50,000 units
- Combined proceeds placed in trust: $201 million
- Nasdaq trading: units under "ACGCU" starting April 7, 2026; separate trading for "ACGC" and "ACGCW" to follow