Wilmington, DE, Dec. 06, 2024 (GLOBE NEWSWIRE) — Shepherd Ave Capital Acquisition Corporation (NASDAQ: SPHAU) (“SPHA” or the “Company”) announced today that it closed its initial public offering of 8,625,000 units at a price of $10.00 per unit, for aggregate gross proceeds of $86,250,000. The offering size reflects the full exercise of the underwriter’s over-allotment option. Each unit consists of one of the Company’s Class A ordinary shares (the “Class A Ordinary Shares”) and one right (the “Rights”), with each whole right entitling the holder thereof to receive one-fifth (1/5th) of one Class A Ordinary Share upon the consummation of an initial business combination. No fractional rights will be issued upon separation of the units and only whole rights will trade.
Source: Shepherd Ave Capital Acquisition Corp Announces Closing of Initial Public Offering