Silicon Valley Acquisition Corp. announced the closing of the over-allotment option related to its IPO.
1,500,000 additional units were sold at $10.00 per unit, generating $15,000,000 of gross proceeds.
In total, 21,500,000 units were issued in the IPO, raising $215,000,000.
Unit Composition
Each unit includes one Class A ordinary share and one-half of a redeemable public warrant.
Separate Trading
Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols "SVAQ" and "SVAQW" respectively after separate trading.
Business Focus
The company aims to target businesses in fintech, crypto/digital assets, AI-driven infrastructure, and other sectors.
- The additional sale of units through the over-allotment option boosted the gross proceeds of the IPO.
- The focus on diverse industries indicates the company's broad business strategy and investment approach.
Silicon Valley Acquisition Corp. successfully closed the over-allotment option, securing additional funds for future business combinations. The diverse industry focus positions the company for potential growth opportunities ahead.