Southern Cross Acquisition II Corp. (Nasdaq: SCAT) announced that holders of 7,652,630 units sold in its initial public offering may elect to separately trade the ordinary shares, warrants, and rights commencing October 8, 2026.

This separation allows investors to trade the constituent securities individually on the Nasdaq Capital Market. Units that are not separated will continue to trade under the symbol "SCATU." The underlying ordinary shares, warrants, and rights will trade under the symbols "SCAT," "SCATW," and "SCATR," respectively.

Trading mechanics and transfer agent details

Holders of the units must instruct their brokers to contact the company's transfer agent, VStock Transfer, LLC, to facilitate the separation of their holdings into individual securities. This process enables market participants to engage with the specific components of the SPAC structure rather than the bundled unit.

Offering background

The units were initially offered in an underwritten offering with D. Boral Capital LLC serving as the sole book-running manager. The registration statement on Form S-1 (File No. 333-297331) relating to these securities was declared effective by the Securities and Exchange Commission (SEC) on August 25, 2026.

Company profile

Southern Cross Acquisition II Corp. is a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities. The company's target search is not limited to a particular industry or geographic region.

Southern Cross Acquisition II Corp. (NASDAQ: SCATU) has closed its initial public offering, raising gross proceeds of $76,526,300. The Cayman Islands-incorporated special purpose acquisition company (SPAC) sold 7,652,630 units at $10.00 per unit, reflecting the partial exercise of the underwriters' over-allotment option.

The closing follows the pricing of the base offering of 7.5 million units announced on August 25, 2026. The underwriters exercised their option to purchase an additional 152,630 units, increasing the total size of the public offering beyond the initial target of $75 million.

Offering Structure and Terms

Each unit offered consists of:

• One ordinary share
• One redeemable warrant
• One right to receive one-fourth (1/4) of one ordinary share

Once separate trading begins, the ordinary shares, warrants, and rights will be listed on Nasdaq under "SCAT," "SCATW," and "SCATR," respectively. Each whole redeemable warrant entitles the holder to purchase one ordinary share at an exercise price of $11.50 per share. Warrants become exercisable on the later of 30 days after the completion of an initial business combination or one year from the date the registration statement is declared effective.

Rights holders must hold rights in multiples of four to receive whole shares upon the consummation of a business combination, as fractional shares will not be issued. Holders of public shares sold in this offering will have the opportunity to redeem their shares.

Private Placement and Trust Account

Concurrently with the IPO closing, the company completed a private placement of 224,932 units at $10.00 per unit, generating gross proceeds of $2,249,320. These private placement units are identical to those sold in the IPO, subject to limited exceptions described in the final prospectus.

Of the net proceeds from the IPO and simultaneous private placement, approximately $76,717,616 ($10.025 per unit sold in the public offering) was placed in trust. An audited balance sheet as of August 27, 2026, reflecting these proceeds, will be included as an exhibit to a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (SEC).

Underwriting and Regulatory Status

D. Boral Capital LLC acted as sole book-running manager of the offering. Robinson & Cole LLP served as legal counsel to the Company, while Norton Rose Fulbright US LLP served as legal counsel to D. Boral Capital LLC.

Southern Cross Acquisition II qualifies as an "emerging growth company" under applicable federal securities laws and will be subject to reduced public company reporting requirements. No offer or invitation to subscribe for securities may be made to the public in the Cayman Islands.

Target Search Strategy

The company stated that its efforts to identify a prospective target will not be limited to a particular industry or geographic region. However, due to significant ties to China, Southern Cross Acquisition II may pursue opportunities in China, including Hong Kong and Macau.