Jupiter-Based SPAC American Ventures Acquisition I Cuts IPO to $75 Million
American Ventures Acquisition I, a blank-check company based in Jupiter, lowered the size of its upcoming initial public offering by 25% on Nov. 5, Renaissance Capital reported.
The special purpose acquisition company now plans to sell 15 million shares at $5 each, raising $75 million. Its original June 2026 filing called for 20 million shares, or about $100 million. The $5 price is half the $10 most SPACs use, and the offering includes no warrants or rights.
The company plans to list on the Nasdaq under the symbol AVAC.
What it's looking for
Founded in 2025, the SPAC is targeting a merger in tech, healthcare or logistics, with a focus on domestic manufacturing, innovation and critical supply chains.
Who runs it
- Chairman: Kyle Wool, president of Dominari Holdings
- CEO: Christopher Devall, COO of Dominari Holdings, who took over from Anthony Hayes in August
- CFO: David Kutcher of Sauvegarder Investment Management
JonesTrading and D. Boral Capital are the joint bookrunners.
Source: Renaissance Capital.