American Drive Acquisition Co 8-K

What Happened
American Drive Acquisition Company announced it consummated its initial public offering on December 19, 2025. The company sold 23,000,000 units at $10.00 per unit, generating $230,000,000 in gross proceeds. Each Unit consists of one Class A ordinary share and one‑third of one redeemable warrant; each whole warrant entitles the holder to buy one Class A ordinary share at $11.50. On the same date the company completed a private placement of 4,000,000 private placement warrants to Petit Monts LLC (the Sponsor) and Cantor Fitzgerald & Co. at $1.50 per warrant, generating $6,000,000. The company placed $230,000,000 of the proceeds into a U.S.-based trust account maintained by Continental Stock Transfer & Trust Company. An audited balance sheet as of December 19, 2025 reflecting these transactions was filed as Exhibit 99.1 to the Form 8‑K.

Key Details

• IPO: 23,000,000 units at $10.00 per unit → $230,000,000 gross proceeds (Dec 19, 2025)
• Unit makeup: 1 Class A ordinary share + 1/3 of a warrant; warrant exercise price $11.50 per share
• Private placement: 4,000,000 private placement warrants to Sponsor (Petit Monts LLC) and Cantor Fitzgerald & Co. at $1.50 each → $6,000,000 gross proceeds
• Trust: $230,000,000 placed in a U.S.-based trust account held by Continental Stock Transfer & Trust Company; audited balance sheet included as Exhibit 99.1

Why It Matters
The filing confirms the SPAC has completed its public listing and now holds substantial funds in trust to pursue a business combination, while outstanding public and private warrants create potential future dilution or capital if exercised. Retail investors should note the number and price of warrants (exercise price $11.50) and the amount held in trust ($230M), as these are key factors in evaluating the company’s capital structure and potential outcomes from a future merger or acquisition.