Melar Acquisition Corp. I has successfully closed its initial public offering (IPO) raising $160 million. The IPO involved the issuance of 16,000,000 units at $10.00 per unit, inclusive of an over-allotment option for underwriters to purchase an additional 1,250,000 units. The units began trading on the Nasdaq Global Market under the ticker symbol MACIU on June 18, 2024. Each unit consists of one Class A ordinary share and half of one redeemable warrant, with exercisable warrants at $11.50 per share. The company places all proceeds into a trust account. Melar Acquisition Corp. I, led by CEO Gautam Ivatury, is a special purpose acquisition company (SPAC) aimed at pursuing mergers or other business combinations. The IPO received support from Cohen & Company Capital Markets and Seaport Global Securities. A registration statement was declared effective by the SEC on June 17, 2024.

Finance, Capital Markets,United States, Cayman Islands