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A Paradise Acquisition Corp. (APADU) completed its initial public offering of 20 million units at $10 per unit on July 31, 2025, according to a company statement. The British Virgin Islands-incorporated blank check company raised $200 million through the offering.
Each unit consists of one Class A ordinary share and one right, with each right entitling the holder to receive one-eighth of a Class A ordinary share upon completion of the company’s initial business combination. The units began trading on the NASDAQ Capital Market under ticker symbol "APADU" on July 30, 2025.
Once separate trading begins, the Class A ordinary shares and rights will trade under symbols "APAD" and "APADR" respectively.
Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, served as the sole book-running manager for the offering. The company granted the underwriter a 45-day option to purchase up to 3 million additional units at the IPO price minus underwriting discount to cover over-allotments.
The U.S. Securities and Exchange Commission declared the registration statement effective on July 29, 2025. A Paradise Acquisition Corp. is a special purpose acquisition company formed to pursue mergers, share exchanges, asset acquisitions or similar business combinations with one or more businesses in the leisure and entertainment sector.