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AI brief of an SEC Form 8-K · Southern Cross Acquisition I Corp. (NCO)

Southern Cross Acquisition I closes $115 million IPO of 11.5 million units

Neutral Impact 3 of 5 financing Written later

Southern Cross Acquisition I Corp., a blank check company listed on Nasdaq under the ticker NCO, closed its initial public offering of 11,500,000 units at $10.00 per unit on July 22, 2026, for gross proceeds of $115,000,000, including the full exercise of the underwriters' over-allotment option. The company placed $115,000,000 in a trust account, which will not be released until a business combination is completed, shareholders redeem shares in certain circumstances, or the company fails to complete a business combination within 12 months of the IPO.

Key points

  • 11,500,000 units sold at $10.00 per unit, for gross proceeds of $115,000,000, including 1,500,000 over-allotment units
  • Private sale of 239,300 units to the sponsor for $2,393,000, completed concurrently with the IPO closing
  • $115,000,000 placed in trust; funds are generally held until a business combination, or are returned if none is completed within 12 months of the IPO
  • Directors Zhiqiang Du, Zhuo Liang and Qian Xu became directors effective July 21, 2026; Ally Tong Zhang is chief executive officer

The filing

CompanySouthern Cross Acquisition I Corp. (NCO)
Form8-K, current report
Filed with the SECJul 23, 2026, 4:16 PM ET
Accession number0001929980-26-000375

Items reported: 1.01 Material Definitive Agreement3.02 Unregistered Equity Sale5.02 Director / Officer Change5.03 Bylaw / Charter Amendment8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 11:48 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 23, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.