Aperture AC has priced its initial public offering at $10 per unit, raising $90 million through the sale of 9 million units, the company said.
The units are set to begin trading on the Nasdaq Capital Market under the symbol "APURU" on May 21, 2026. Each unit comprises one Class A ordinary share and one right to receive one-fourth of one Class A ordinary share upon completion of a business combination. The company plans for the Class A ordinary shares and the rights to trade separately under the ticker symbols "APUR" and "APURR," respectively, once separate trading of those securities commences.
The offering is expected to close on May 22, 2026, and remains subject to customary closing conditions. In addition, underwriters have been granted a 30-day option to purchase up to an additional 1.35 million units to cover any over-allotments tied to the offering.
Aperture AC is structured as a blank check company formed for the purpose of pursuing a merger, acquisition, or similar business combination with one or more businesses. The company stated it may target businesses in any industry or geographic location for its initial business combination, without limiting its search to particular sectors.
Senior management and the board are identified in the offering documents. Calvin Kung is listed as Chief Executive Officer and director, and Daniel Zhao is listed as Chief Financial Officer and director. The board of directors also includes Zhen Tan, Thomas Friend, and Song Pettus.
The underwriters named for the transaction include IB Capital, LLC as the book-running manager, with EarlyBirdCapital, Inc. and I-Bankers Securities, Inc. acting as joint book running managers. According to the filing, the company’s registration statement became effective with the Securities and Exchange Commission on May 14, 2026.
What this means
- The pricing establishes a $90 million primary raise through unit sales, with the potential to expand proceeds if underwriters exercise their over-allotment option.
- The structure of the units and the planned separate trading of shares and rights means investors will initially hold combined instruments that later can be separated into equity and detachable rights.
- As a blank check company, Aperture AC has flexibility to pursue a wide range of business combinations across industries and geographies, leaving the specific target or targets unspecified at this time.
Key points
- Aperture AC sold 9 million units at $10 per unit, raising $90 million.
- Units to trade as APURU beginning May 21, 2026; Class A shares and rights will trade as APUR and APURR after separation.
- Underwriters have a 30-day option to purchase up to 1.35 million additional units for over-allotments.
Sectors potentially affected
- Capital markets activity related to IPOs and blank check offerings.
- Advisory and underwriting services tied to deal execution and distribution of new listings.
Risks and uncertainties
- The closing of the offering is subject to customary closing conditions, introducing execution risk to the transaction.
- The company holds a 30-day over-allotment option for underwriters, which could affect the total number of units issued and the ultimate proceeds raised.
- As a blank check company that may pursue a business combination in any industry or geographic location, there is uncertainty about the specific target or strategy that will be pursued.
Information in this article is based on the company’s offering documents and related disclosures.