White Pearl Acquisition (WPACU) Raises $115M in NYSE IPO

SPAC Completes $115 Million Public Offering

White Pearl Acquisition Corp. (WPACU), a special purpose acquisition company, has successfully completed its initial public offering on the New York Stock Exchange, raising $115 million.

The offering consisted of 11.5 million units priced at $10.00 per unit, a figure that includes the full exercise of the underwriters’ 1.5 million unit over-allotment option.

Offering Details and Market Debut

Each unit sold comprises one Class A ordinary share and one right, which entitles the holder to receive one-fifth of one Class A ordinary share upon the company's initial business combination.

The units began trading on the NYSE under the ticker symbol "WPACU" on February 2, 2026. The registration statement was declared effective by the Securities and Exchange Commission on January 30, 2026.

Company's Strategic Focus

As a SPAC, White Pearl Acquisition Corp. aims to effect a merger, asset acquisition, or similar business combination. The company has announced its intention to focus on targets within the financial technology, information technology, and business services sectors.

Upon separate trading, the shares and rights are expected to be listed under the symbols "WPAC" and "WPACR."

Summary

The completion of this IPO provides White Pearl Acquisition Corp. with the necessary capital to identify and merge with a target company. Stakeholders will now watch for the company's next steps in pursuing a business combination within its chosen high-growth sectors.

FAQ

Q: What is White Pearl Acquisition Corp.?
A: It is a Special Purpose Acquisition Company (SPAC) that raised $115 million to merge with a private company, focusing on the fintech, IT, and business services industries.

Q: What are the components of a WPACU unit?
A: Each unit includes one Class A ordinary share and one right, convertible to one-fifth of a share after a business combination.

Source

Source: Investing.com