K2 Capital Acquisition Corporation has completed the pricing for its initial public offering, selling 12 million units at $10 per unit for total gross proceeds of $120 million. Each unit is made up of one Class A ordinary share and one right that entitles the holder to one-fifth of one Class A ordinary share upon the closing of the company’s initial business combination.
The newly issued units are scheduled to begin trading on the Nasdaq Global Market under the symbol "KTWOU" on January 29, 2026. According to the company’s statement, the constituent Class A ordinary shares and the rights will be listed to trade separately under the symbols "KTWO" and "KTWOR," respectively, once separate trading commences.
D. Boral Capital acted as the sole book-running manager for the offering. The company has also granted the underwriters a 45-day option to purchase up to 1.8 million additional units at the public offering price to satisfy any over-allotments.
The offering is expected to close on January 30, 2026, subject to customary closing conditions. The Securities and Exchange Commission declared the registration statement for the company effective on January 28, 2026.
K2 Capital Acquisition Corporation was formed as a special purpose acquisition company - a vehicle created to pursue a merger, share exchange, asset acquisition or a similar business combination with one or more businesses, as outlined in the company's statement. Beyond those structural details, the company did not identify a target or provide further specifics about potential transaction timing in the statement accompanying the offering.
This financing sets the SPAC up with $120 million in proceeds to pursue its stated objective of effecting an initial business combination. Market participants will see the combined units trade first under KTWOU, with the split listings for KTWO and KTWOR following the timing determined by the company and market rules once separate trading begins.
Summary: K2 Capital priced 12 million units at $10 each, raising $120 million. Units expected to trade on Nasdaq as KTWOU on January 29, 2026, with Class A shares and rights to trade separately as KTWO and KTWOR after separate trading begins. D. Boral Capital served as sole book-running manager and underwriters have a 45-day option to buy up to 1.8 million additional units. The offering is expected to close January 30, 2026, after the SEC declared the registration statement effective on January 28, 2026.