SUMA Acquisition Corp 8-K

What Happened

• SUMA Acquisition Corp announced it completed its initial public offering on March 12, 2026, selling 17,250,000 units at $10.00 per unit for gross proceeds of $172,500,000 (this includes a full 2,250,000‑unit over‑allotment exercise).
• Each unit consists of one Class A ordinary share and one right to receive one‑fifth (1/5) of a Class A ordinary share upon the company’s initial business combination. The company entered into customary underwriting, trust, registration‑rights, sponsor purchase and other related agreements in connection with the IPO.

Key Details

• IPO size: 17,250,000 units at $10.00 each; gross proceeds $172,500,000 (includes 2,250,000 over‑allotment units).
• Private placement: 446,250 units sold privately at $10.00 each for $4,462,500 to sponsors and the underwriter; $2,617,500 of those proceeds were placed in the trust account.
• Trust account: $172,500,000 was deposited into a U.S. trust (Continental Stock Transfer & Trust Co. as trustee). Except for interest to pay taxes and up to $100,000 for dissolution expenses, funds won’t be released until the earliest of (i) completion of an initial business combination, (ii) redemption if no business combination within 24 months, or (iii) certain shareholder redemptions tied to amendments.
• Governance and corporate actions: Effective March 10, 2026, five directors (Audie Attar, Christopher Bradley, Bogdan Cenanovic, Lawrence Hu and Ted Fike) were appointed; committee assignments and indemnity agreements for directors and officers were put in place; the company filed amended and restated memorandum and articles of association (effective March 10, 2026).

Why It Matters

• For investors, the filing confirms SUMA is now a publicly traded special purpose acquisition company (SPAC) with $172.5M held in trust to pursue an initial business combination. The 24‑month deadline and trust restrictions define the timeline and investor protections: public shareholders generally may redeem shares if a deal is not completed within that window. Board appointments, indemnities and the corporate charter updates are standard governance steps that enable the company to operate as a public SPAC.