Vernal Capital Acquisition Corp. said it has priced its initial public offering at 10,000,000 units at $10.00 per unit, for gross proceeds of $100 million. The units are expected to begin trading on the New York Stock Exchange on May 6, 2026 under the ticker VECAU.
Each unit includes one ordinary share and one right to receive one-fourth of one ordinary share when the company completes its initial business combination. Once the securities begin separate trading, the ordinary shares and rights are expected to list on the NYSE under VECA and VECAR.
Book-running role and over-allotment option
D. Boral Capital LLC is serving as the sole book-running manager for the offering. Underwriters were granted a 45-day option to purchase up to 1,500,000 additional units to cover over-allotments. The company said the offering is expected to close on May 7, 2026, subject to customary closing conditions.
The registration statement covering the securities was declared effective by the U.S. Securities and Exchange Commission on May 5, 2026. Vernal said the offering is being made only by means of a prospectus, which can be obtained through D. Boral Capital LLC.
Blank-check structure leaves target search open
Vernal described itself as a blank-check company formed to pursue a merger, share exchange, asset acquisition, share purchase, reorganization, or a similar business combination with one or more businesses. According to the release, its search for a target will not be limited to any specific industry or geographic region.
The company also included a forward-looking statements notice tied to the IPO. It said actual results could differ materially because of risks and uncertainties, and gave no assurance that the offering would be completed on the terms described, or completed at all. Additional risk factors were referenced in the company’s SEC registration materials.