Southern Cross Acquisition II Corp. Completes IPO, Places Proceeds in Trust

What Happened
Southern Cross Acquisition II Corp. announced on August 27, 2026 that it consummated its initial public offering (IPO) of 7,652,630 units (including the partial exercise of the underwriters’ over-allotment option for 152,630 units). Each Unit includes one ordinary share, one warrant (exercise price $11.50) and one right (each right entitles the holder to one-fourth of a share upon the company’s initial business combination). The Units were sold at $10.00 per Unit. Substantially concurrently, the company sold 224,932 Private Units to its Sponsor (Southern Cross Acquisition II Sponsor Corp.) and D. Boral Capital LLC for $10.00 per Private Unit. An audited balance sheet as of August 27, 2026 reflecting receipt of proceeds was filed as Exhibit 99.1 to the 8-K.

Key Details

• IPO sold 7,652,630 Units at $10.00 each, generating gross IPO proceeds of $76,526,300.
• Private sale of 224,932 Units generated $2,249,320 in gross proceeds.
• $76,717,616 (net of transaction expenses and working capital) was placed in the company’s trust account with Equiniti Trust Company, LLC as trustee.
• Each Warrant entitles the holder to purchase one ordinary share at $11.50; each Right converts to one-fourth of a share upon completion of the initial business combination.

Why It Matters
This 8-K confirms Southern Cross Acquisition II is now a publicly listed blank‑check (SPAC) vehicle with capital held in a trust to fund a future business combination. The amount in the trust and the unit structure (shares, warrants, rights) determine investor protections, potential dilution, and the company’s buying power for a target acquisition. The filed audited balance sheet provides a verified snapshot of the company’s cash position following the IPO and related transactions.