Xsolla SPAC 1 (NASDAQ: XSLL), a blank check company formed for the purpose of effecting a merger or business combination, announced that the underwriters of its initial public offering partially exercised their over-allotment option to purchase an additional 419,385 units at $10.00 per unit. This move generated approximately $4.2 million in additional gross proceeds, increasing the total units sold to 20,419,385 and aggregate gross proceeds to $204,193,850.
Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. D. Boral Capital LLC acted as the sole book-running manager for the offering. The partial exercise of the over-allotment option indicates continued confidence from investors in the SPAC's potential to identify and complete a successful business combination.
Xsolla SPAC 1 is led by a seasoned management team, including Chairman Aleksandr Agapitov, CEO Dmitry Burkovskiy, CFO Rytis Joseph Jan, and Chief Legal Officer Carla Bedrosian, Esq. The board also includes Xuan Li, Maxwell Gover, Wenfeng Yang, Perry Michael Fischer, and Eugenie Levin. The company has not yet selected a specific target for its initial business combination and has not engaged in substantive discussions with any potential target.
The additional capital strengthens Xsolla SPAC 1's ability to pursue attractive merger opportunities. For more details on the offering, the full press release is available at https://ibn.fm/XUYRN. Additional information about the company can be found on its website at http://xsollaspac.com/.
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