Vernal Capital Acquisition, a blank check company targeting businesses in the APAC region, raised the proposed deal size for its upcoming IPO on Wednesday.
The New York, NY-based company now plans to raise $100 million by offering 10 million units at a price of $10. Each unit consists of one share of common stock and one right to receive one-fifth of one ordinary share upon the consummation of an initial business combination. The company had previously filed to raise $60 million by offering 6 million units, with each unit containing one right to receive one-seventh of one ordinary share.
Vernal Capital Acquisition is led by CEO and Chairman Jun Du, the founder and CEO of Vernal and ABCDE Capital, and the co-founder of Chainup Technic. He is joined by CFO and Director Binghan Yi, who previously served as head of existing portfolio management at Munich Re. The SPAC plans to focus on companies located in China, including Hong Kong and Macau.
Vernal Capital Acquisition was founded in 2025 and plans to list on the NYSE under the symbol VECAU. D. Boral Capital is the sole bookrunner on the deal.
