Lake Superior Acquisition Corp. closes $115 million IPO

NEW YORK - Lake Superior Acquisition Corp. announced today the completion of its initial public offering, raising $115 million through the sale of 11.5 million units priced at $10.00 each, according to a press release statement. According to InvestingPro data, the stock has maintained stable trading around its IPO price, with relatively low price volatility.

The offering included the full exercise of the underwriters’ over-allotment option. Each unit consists of one Class A ordinary share and one-seventh of a right, with each whole right entitling the holder to receive one Class A ordinary share upon completion of an initial business combination.

The units began trading on the Nasdaq Global Market under the ticker symbol "LKSPU" on Tuesday. Once the securities begin separate trading, the Class A ordinary shares and rights will trade under the symbols "LKSP" and "LKSPR," respectively. The stock has seen healthy trading volume, with a 3-month average daily volume of 5.22 million USD, as reported by InvestingPro.

The company has placed the entire $115 million of proceeds from the IPO and a simultaneous private placement into a trust account, representing $10.00 per unit sold in the public offering.

Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, served as the sole book-running manager for the offering. Loeb & Loeb LLP acted as legal advisor to the company, while Morgan, Lewis & Bockius LLP provided legal counsel to the underwriter.

Lake Superior Acquisition Corp. is a special purpose acquisition company (SPAC) formed to effect a merger, share exchange, asset acquisition, or similar business combination with one or more businesses. The SPAC is led by Edward Cong Wang, who serves as CEO and Chairman. Financial metrics from InvestingPro indicate the company maintains a current ratio of 0.85, with additional financial health indicators and analysis available to Pro subscribers.

The U.S. Securities and Exchange Commission declared effective the company’s registration statement on Form S-1 on September 30, 2025.

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