Newbridge Acquisition Limited announced the pricing of its initial public offering of 5 million units at $10.00 per unit, representing gross proceeds of $50 million before any exercise of the underwriters' option. The company said the units are expected to begin trading on the NASDAQ Capital Market under the symbol "NBRGU" on January 30, 2026.
Each unit comprises one Class A ordinary share and one right. The rights are structured so that each right entitles its holder to receive one-eighth of a Class A ordinary share upon the closing of an initial business combination - meaning eight rights will be required to convert into one whole Class A ordinary share at the closing of that transaction.
Newbridge said that once the securities that make up the units begin trading separately, investors should expect the Class A ordinary shares and the rights to be listed on NASDAQ under the symbols "NBRG" and "NBRGR," respectively.
Underwriters in the offering have been granted a 45-day option to purchase up to an additional 750,000 units to cover any over-allotments. The company indicated the offering is expected to close on February 2, 2026, subject to customary closing conditions.
Kingswood Capital Partners, LLC is acting as the sole book-running manager for the offering. Legal counsel to the company is Loeb & Loeb LLP, while Greenberg Traurig, LLP is serving as legal counsel to Kingswood Capital Partners, LLC.
Newbridge Acquisition Limited is organized as a blank check company under the laws of the British Virgin Islands. The company was formed to seek a business combination through means such as a merger, share exchange, asset acquisition, share purchase, recapitalization, or reorganization. Management has not restricted the search for a target to any specific industry or geographic region.
The Securities and Exchange Commission declared the registration statement relating to these securities effective on September 30, 2025. A post-effective amendment to that registration statement was declared effective on December 18, 2025.
Summary
Newbridge priced 5 million units at $10 per unit, with trading expected to start under "NBRGU" on January 30, 2026. Each unit contains one Class A ordinary share and one right, where each right equals one-eighth of a Class A ordinary share upon closing of an initial business combination. Separate listings for the Class A shares and rights are expected under "NBRG" and "NBRGR" when they begin separate trading.
Key points
- Offering size and price: 5 million units priced at $10.00 each, for $50 million gross proceeds before potential over-allotment exercise.
- Structure of the securities: Each unit includes one Class A ordinary share plus one right; eight rights convert to one Class A ordinary share at closing of a business combination.
- Market and timing: Units to trade on NASDAQ Capital Market as "NBRGU" starting January 30, 2026; separate listings expected for shares and rights under "NBRG" and "NBRGR" once split.
Risks and uncertainties
- Timing and closing conditions: The planned closing date of February 2, 2026 is subject to customary closing conditions and could be delayed or altered.
- Over-allotment variability: The underwriters have a 45-day option to purchase up to 750,000 additional units, which could change the final size of the offering.
- Target search scope: As a blank check company with no industry or geographic limitations on its search for a business combination, the company faces uncertainty regarding the nature, timing, and terms of any eventual target transaction.
Investors should note that the SEC declared the registration statement effective on September 30, 2025, with a post-effective amendment declared effective December 18, 2025. Further updates and disclosures will be provided by the company as the offering and its search for a target progress.