American Ventures Acquisition I, a blank check company targeting the tech, healthcare, and logistics industries, lowered the proposed deal size for its upcoming IPO on Thursday.
The Jupiter, FL-based company now plans to raise $75 million by offering 15 million shares at $5, rather than the typical $10 set by most SPACs. The company originally filed in June 2026 to offer 20 million shares at $5. At the revised terms, American Ventures Acquisition I will raise 25% less in proceeds than previously anticipated. The offering does not contain warrants or rights.
American Ventures Acquisition I is led by Chairman Kyle Wool and CEO Christopher Devall, who serve as President and COO of Dominari Holdings (Nasdaq: DOMH), respectively. Devall, previously the SPAC’s President, replaced Anthony Hayes as CEO in August 2026; Hayes remains a director. Devall has experience with other SPACs and concurrently serves as CEO of SIM Acquisition I (Nasdaq: SIMA). They are joined by CFO David Kutcher, the co-founder, CFO, and Director of Sauvegarder Investment Management.
The SPAC intends to target businesses with US industrial capacity, technological leadership and innovation, and economic resilience, with a focus on domestic manufacturing, expanding innovation ecosystems, and strengthening critical supply chains.
American Ventures Acquisition I was founded in 2025. It plans to list on the Nasdaq under the symbol AVAC. JonesTrading and D. Boral Capital are the joint bookrunners on the deal.
