Cayson Acquisition Corp Announces Closing of $60,000,000 Initial Public Offering
24 September 2024 - 6:00AM
Cayson Acquisition Corp (the “Company”) announced today that it
closed its initial public offering of 6,000,000 units at $10.00 per
unit. The offering resulted in gross proceeds to the Company of
$60,000,000.
The Company’s units are listed on the Nasdaq
Global Market (“Nasdaq”) and commenced trading under the ticker
symbol “CAPNU” on September 20, 2024. Each unit consists of one
ordinary share and one right entitling its holder to receive one
tenth of one ordinary share upon the Company’s completion of an
initial business combination. Once the securities comprising the
units begin separate trading, the ordinary shares and rights are
expected to be listed on Nasdaq under the symbols “CAPN” and
“CAPNR,” respectively.
The Company is a Cayman exempt company, formed
as a blank check company for the purpose of entering into a merger,
share exchange, asset acquisition, share purchase,
recapitalization, reorganization or similar business combination
with one or more businesses or entities. The Company intends to
focus its search for a target business on entities located
throughout Asia but will not be limited to a particular industry or
geographic location. The Company is led by its Chairman of the
Board and Chief Executive Officer, Yawei Cao.
Of the proceeds received from the consummation
of the initial public offering and a simultaneous private placement
of units, $60,000,000 was placed in trust.
EarlyBirdCapital, Inc. acted as the book-running
manager for the offering and Revere Securities acted as co-manager
for the offering. The Company has granted the underwriters a 45-day
option to purchase up to an additional 900,000 units at the initial
public offering price to cover over-allotments, if any. The
offering was made only by means of a prospectus. Copies of the
prospectus may be obtained, when available, from EarlyBirdCapital,
Inc., 366 Madison Avenue, New York, New York 10017, Attention:
Syndicate Department, or (212) 661-0200.
A registration statement relating to these
securities was filed with the Securities and Exchange Commission
(the “SEC”) and was declared effective on September 19, 2024. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that
constitute “forward-looking statements,” including with respect to
the anticipated use of net proceeds. No assurance can be given that
the net proceeds of the offering will be used as indicated.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company’s registration
statement and preliminary prospectus for the offering filed with
the SEC. Copies are available on the SEC’s
website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
Contact:Taylor
Zhangtaylorzhang@caysonspac.com
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