SPACSphere Acquisition, a blank check company led by SPAC veteran Bala Padmakumar targeting digital assets, technology, and healthcare, raised $150 million by offering 15 million units at $10. Each unit consists of one share of common stock, one-half of one redeemable warrant exercisable at $11.50, and one right to receive one-fifth of one common stock upon the consummation of an initial business combination.
The company is led by CEO and Chairman Bala Padmakumar, who served as the CEO and Chairman of ChampionsGate Acquisition (CHPGU; +2.9% from offer price), Chairman of Four Leaf Acquisition (FORL; +17.5%) which has a pending merger agreement with Chinese car wash chain Xiaoyu Dida Interconnect International, and former CEO and Chairman of Monterey Capital Acquisition through its merger with ConnectM Technology Solutions (CNTM; -97%). He is joined by CFO Soumen Das, the Director of Finance for Meditab Software and CFO of DosePacker Inc., and former Director of Capital Markets at VIKASA Capital, where he advised Stardust Power (SDST; -65.1%) on its merger with Global Partner Acquisition II.
The SPAC plans to target industries where its executives have core competencies and experiences, such as digital assets, technology, and healthcare industries.
The Sacramento, CA-based company was founded in 2025 and plans to list on the Nasdaq under the symbol SSACU. D. Boral Capital acted as sole bookrunner on the deal.
