West Enclave Merger Corp. disclosed the pricing of its initial public offering, selling 10 million units at $10 apiece for total gross proceeds of $100 million. The units are expected to commence trading on the New York Stock Exchange on April 30, 2026, under the trading symbol "WENC U".
Organized as a special purpose acquisition company, West Enclave said it will pursue mergers or business combinations. The firm has signalled a strategic focus on companies operating in Latin America or U.S.-based businesses positioned to benefit from economic ties between the United States and Latin America, with particular emphasis on Mexico.
Each unit offered in the IPO consists of one ordinary share and one right. The right entitles the holder to receive one-tenth of one ordinary share following the completion of an initial business combination. West Enclave noted that, once the securities begin separate trading, its ordinary shares and its rights will be listed on the NYSE under the symbols "WENC" and "WENC RT," respectively.
EarlyBirdCapital, Inc. is acting as the sole book-running manager for the offering. Underwriters have been granted a 45-day option to purchase up to 1.5 million additional units at the IPO price to cover any over-allotments.
The company indicated the offering is expected to close around May 1, 2026, subject to customary closing conditions. A registration statement related to the securities became effective on April 29, 2026.
West Enclave is led by Co-Chairmen and Co-Chief Executive Officers Emilio Mahuad Quijano and Adrian Otero Rosiles. The leadership team will oversee the SPAC's efforts to identify and execute a qualifying business combination within its stated geographic and strategic remit.
Context and next steps
With units trading first and separate listings for shares and rights to follow, investors will have multiple security types to evaluate once trading of the component securities begins. The underwriters' over-allotment option provides a mechanism to manage demand during the offering period. The offering's completion remains contingent on customary closing conditions as the company moves toward an anticipated close near May 1, 2026.