Street Calls of the Week
AI Infrastructure Acquisition Corp. (NYSE:AIIA) announced that it completed its initial public offering on Monday, raising $138 million through the sale of 13,800,000 units, which included 1,800,000 units issued following the full exercise of the underwriters’ over-allotment option. Each unit consists of one Class A ordinary share and one right to receive one-fifth of a Class A ordinary share upon the company’s initial business combination. The units were priced at $10.00 each.
Simultaneously with the IPO closing, the company completed a private placement of 407,000 units at $10.00 per unit, resulting in an additional $4.07 million in gross proceeds. Of these, 269,000 units were purchased by AIIA Sponsor Ltd., and 138,000 units by Maxim Partners LLC.
According to the company’s statement in a press release based on a SEC filing, as of Monday, a total of $138 million from the IPO and private placement proceeds was deposited into a U.S.-based trust account managed by Odyssey Transfer and Trust Company.
An audited balance sheet as of Monday, reflecting the proceeds from the IPO and private placement, was included as an exhibit to the SEC filing. AI Infrastructure Acquisition Corp. is incorporated in the Cayman Islands and is listed on the New York Stock Exchange under the symbols NYSE:AIIA (Class A shares), NYSE:AIIA U (units), and NYSE:AIIA R (rights).
No additional business updates or financial statements beyond the IPO and private placement details were disclosed in the filing.
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