Item 8.01 Other Events. On August 27, 2026, Southern Cross Acquisition II Corp., a Cayman Islands exempted company (the “Company”) consummated its initial public offering (the “IPO”) of 7,652,630 units (the “Units”), which includes the partial exercise of the underwriters’ option to purchase an additional 152,630 Units to cover over-allotments.…
We are a blank check company incorporated in the Cayman Islands on September 30, 2025 as an exempted company with limited liability (meaning that our public shareholders have no liability, as shareholders of our company, for the liabilities of our company over and above the amount paid for their shares). We were formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities, which we refer to as a “target business.” Our efforts to identify a prospective target business will not be limited to a particular industry or geographic location. Because of our significant ties to China, we may pursue opportunities in China (including Hong Kong and Macau). Due to the relevant PRC laws and regulations against foreign ownership of and investment in certain assets and industries, known as restricted industries, which including but not limited to, value-added telecommunications services (inclusive of internet content providers), we may have a limited pool of acquisition candidates we may acquire in China. We do not have any specific business combination under consideration and we have not (nor has anyone on our behalf), directly or indirectly, contacted any prospective target business or had any substantive discussions, formal or otherwise, with respect to such a transaction. Additionally, we have not engaged or retained any agent or other representativ
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Item 8.01Item 8.01 - Other Events
Item 8.01 Other Events.
On August 27, 2026, Southern Cross Acquisition II Corp., a Cayman Islands exempted company (the “Company”) consummated its initial public offering (the “IPO”) of 7,652,630 units (the “Units”), which includes the partial exercise of the underwriters’ option to purchase an additional 152,630 Units to cover over-allotments. Each Unit consists of one ordinary share, $0.0001 par value per share (each, a “Ordinary Share”), one redeemable warrant (the “Warrant”), each Warrant entitling the holder thereof to purchase one Ordinary Share at an exercise price of $11.50 per share, and one right (each, a “Right”), each Right entitling the holder thereof to receive one-fourth of one Ordinary Share upon the completion of the Company’s initial business combination. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $76,526,300.
Substantially concurrently with the closing of the IPO, the Company completed the private sale of an aggregate of 224,932 units (the “Private Units”) to the Company’s Sponsor, Southern Cross Acquisition II Sponsor Corp., a Cayman Islands exempted company (the “Sponsor”), and D. Boral Capital LLC, the representative of the underwriters of the IPO (the “Representative”). Each Private Unit consists of one Ordinary Share, one Warrant (the “Private Warrants”), and one Right (the “Private Rights”). The Private Units are identical to the Units sold in the IPO, subject to limited exceptions as further described in the Registration Statement on Form S-1 (File No. 333-297331). The Private Units were sold at $10.00 per Unit, generating gross proceeds of $2,249,320.
A total of $76,717,616, from the proceeds of the IPO and the sale of the Private Units (net of transaction expenses and working capital) were placed in the Company’s trust account established for the benefit of the Company’s public shareholders and the underwriters of the IPO with Equiniti Trust Company, LLC acting as trustee.
An audited balance sheet as of August 27, 2026, reflecting receipt of the proceeds upon consummation of the IPO and the sale of Private Units has been issued by the Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.
Filed exhibits (1)
EX-99.1 (by filename) scacii_ex991.htm
EX-99.1
2
scacii_ex991.htm
AUDITED BALANCE SHEET
scacii_ex991.htm
EXHIBIT 99.1
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and
Shareholders of Southern Cross Acquisition II Corp.
Opinion on the Financial Statements
We have audited the accompanying balance sheet of Southern Cross Acquisition II Corp. (the Company) as of August 27, 2026, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of August 27, 2026, in conformity with accounting principles generally accepted in the United States of America.
Substantial Doubt about the Company’s Ability to Continue as a Going Concern
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As more fully described in Note 1 to the financial statements, the Company is a Special Purpose Acquisition Corporation that was formed for the purpose of completing a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more busi…