Southern Cross Acquisition II, a blank check company targeting businesses with defensible market positions, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
The company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock, one warrant to purchase a share exercisable at $11.50, and one right to receive one-fourth of one share at the time of the business combination.
Southern Cross Acquisition II is led by CEO and Chairwoman Ally Zhang, whose previous roles include serving as General Manager of Shanghai Stockstar and Director of Investor Relations at China Finance Online. Her other SPAC, Southern Cross Acquisition I (NCOU), filed in June 2026 and is targeting businesses with industry leadership and revenue visibility. While it hasn't selected a target industry or geography, the SPAC plans to focus on businesses with defensible market positions and robust revenue growth, among other characteristics.
The New York, NY-based company was founded in 2025. It plans to list on the Nasdaq under the symbol SCATU. Southern Cross Acquisition II filed confidentially on June 1, 2026. D. Boral Capital is the sole bookrunner on the deal.
