Stellar V Capital Corp., a newly organized special purpose acquisition company formed as a Cayman Islands exempted company, announced the closing of its initial public offering of 15,000,000 units. The offering was priced at $10.00 per unit, resulting in gross proceeds of $150,000,000.
The Company’s units began trading on January 30, 2025 on the Nasdaq Global Market under the ticker symbol “SVCCU.” Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at $11.50 per share. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and the warrants will be traded on Nasdaq under the symbols “SVCC” and “SVCCW,” respectively.
The Company’s management team is led by co-CEOs Prokopios Tsirigakis and George Syllantavos who are also the Company’s directors. In addition, the Company’s board includes Nicolas Bornozis, Christopher Thomas and Harry Braunstein.
The Company intends to use the net proceeds from the offering, and the simultaneous private placements of units and warrants, to consummate the Company’s initial business combination.
BTIG, LLC acted as sole book-running manager for the offering.