Xsolla SPAC 1 has priced its initial public offering at $10.00 per unit, selling 20 million units and raising $200 million in gross proceeds. Each unit consists of one Class A ordinary share together with one-half of one redeemable warrant, as set out in the companys offering documents.
The units are expected to begin trading on the NASDAQ exchange under the ticker symbol "XSLLU" on January 29, 2026. When the securities begin to trade separately, the Class A ordinary shares will trade under the symbol "XSLL" and the warrants will trade under the symbol "XSLLW". The offering is expected to close on January 30, 2026.
Each whole warrant will become exercisable on the later of two events: the completion of the companys initial business combination or 12 months after the effective date of the registration statement. Holders that exercise a whole warrant will be able to purchase one Class A ordinary share at an exercise price of $11.50 per share.
D. Boral Capital LLC acted as the sole book-running manager for the offering. The underwriter received a 45-day option to purchase up to an additional 3 million units at the initial offering price to cover any over-allotments that may occur.
The Securities and Exchange Commission declared the companys registration statement on Form S-1 effective on January 28, 2026. The company is incorporated as a Cayman Islands exempted company.
Company leadership listed in the filing includes Aleksandr Agapitov as Chairman, Dmitry Burkovskiy as Chief Executive Officer, Rytis Joseph Jan as Chief Financial Officer, and Carla Bedrosian as Chief Legal Officer. The filing states that the company has not selected any specific business combination target nor has it engaged in substantive discussions with potential targets.
According to the registration materials, the company was formed with the purpose of effecting a business combination through a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or a similar transaction with one or more businesses.
Key transaction terms at a glance
- Units offered: 20 million
- Price per unit: $10.00
- Gross proceeds: $200 million
- Unit composition: 1 Class A share + 1/2 redeemable warrant
- Warrant exercise price: $11.50 per whole warrant
- Expected NASDAQ unit listing date: January 29, 2026 (XSLLU)
- Expected offering close date: January 30, 2026