PALOMA ACQUISITION CORP I 8-K

What Happened

• Paloma Acquisition Corp I announced it completed its initial public offering on February 20, 2026, selling 15,000,000 units at $10.00 each for $150,000,000 gross proceeds. Each Unit includes one Class A ordinary share and one-half of a warrant (one whole warrant exercisable at $11.50).
• The underwriter, Jefferies LLC, had a 45‑day over‑allotment option and on February 23–25, 2026 partially exercised it, purchasing an additional 1,450,000 Units for $14,500,000. The sponsor and the underwriter also bought 500,000 private placement units at $10.00 each on February 20 ($5,000,000) and an additional 29,000 private placement units on February 25 ($290,000).
• Proceeds of $150,000,000 were initially placed in a U.S.-based trust on February 20, 2026; after the over‑allotment and additional private placement funds were deposited on February 25, 2026, a total of $164,500,000 is held in the trust. An audited balance sheet as of February 20, 2026 reflecting the IPO proceeds was filed as Exhibit 99.1.

Key Details

• IPO: 15,000,000 Units at $10.00 each → $150,000,000 gross proceeds (Feb 20, 2026).
• Over‑allotment: 1,450,000 additional Units purchased by underwriters → $14,500,000 (Feb 23–25, 2026).
• Private placements: 500,000 units to sponsor/underwriter ($5,000,000) + 29,000 additional units ($290,000).
• Total in trust after closings: $164,500,000; warrant exercise price: $11.50 per share.

Why It Matters

• For investors, this filing confirms the SPAC has closed its IPO, completed related private placements, and holds $164.5M in trust to pursue a future business combination. The amount in trust is the cash pool available to fund the acquisition that will be proposed to public shareholders.
• The Units include warrants (exercise price $11.50), which can affect future dilution and potential upside depending on any target deal and stock performance. The sponsor and underwriter participation (private placement and over‑allotment) are typical SPAC structuring items that influence initial ownership and available capital.