Ogier's Cayman Corporate team advises SUMA Acquisition Corporation onUS$172.5 million IPO

Ogier's Corporate team in the Cayman Islands has advised SUMA Acquisition Corporation on its US$172.5 million initial public offering on The Nasdaq Stock Market LLC.

The initial public offering (IPO) of 17,250,000 units (which includes 2,250,000 units issued pursuant to the full exercise by the underwriters of their over-allotment option) priced at US$10.00 per unit. The units began trading under the ticker symbol SUMAU on 11 March 2026. Each unit consisted of one class A ordinary share and one right to receive one fifth of one Class A ordinary share at the closing of the company's initial business combination.

SUMA Acquisition Corporation (SUMA) is a special purpose acquisition company (SPAC) which intends to focus on targets in the United States and other developed markets across several technology-enabled sectors.

Ogier provided Cayman Islands legal advice to SUMA. The team was led by partner Natalie Bell with support from Bradley Kruger, the lead partner of Ogier's Corporate team in the Cayman Islands and senior associate Ali Pasley. Seaport Global Securities LLC acted as the lead book-running manager for the offering.

For further information or to discuss how Ogier can support your SPAC or de-SPAC transaction, contact our team. Read more about Ogier's SPAC and de-SPAC services.