ARC Group Securities Acquisition I, a blank check company led by ARC Group executives, lowered the proposed deal size for its upcoming IPO on Tuesday.
The Tempe, AZ-based company now plans to raise $105 million by offering 10.5 million units at $10. The company had previously filed to offer 15 million units at the same price. Each unit now contains one share of common stock, one warrant exercisable at $11.50, and one right to receive one-fourth of one ordinary share upon the consummation of an initial business combination. Units previously contained one share and one-half of a warrant. At the midpoint, ARC Group Securities Acquisition I will raise 30% less in proceeds than previously anticipated.
ARC Group Securities Acquisition I is led by CEO and Chairman Ian Hanna, the CEO of ARC Group Securities. He is now joined by CFO Jake Carney, the former Managing Director of the UAE office of ARC Group. The SPAC plans to target companies with an attractive competitive position, knowledgeable management teams, and potential for high revenue growth, among other characteristics. It plans to focus on businesses with an aggregate enterprise value of $700 million or greater.
ARC Group Securities Acquisition I was founded in 2025. It plans to list on the Nasdaq under the symbol FJDIU. Arc Group Securities is the sole bookrunner on the deal.
