OTG Acquisition(OTGAU)
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OTG Acquisition(OTGAU) - 2025 Q3 - Quarterly Report
2025-11-12 21:17
Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $224,370, consisting of interest earned on marketable securities held in the Trust Account of $343,797, offset by general and administrative costs of $119,427[123]. - The company incurred cash used in operating activities of $335,950 from inception through September 30, 2025, with net income of $209,856 affected by income earned on marketable securities[128]. Initial Public Offering - The company completed its Initial Public Offering on September 15, 2025, raising gross proceeds of $230,000,000 from the sale of 23,000,000 Units, including the full exercise of the over-allotment option[125]. - Following the Initial Public Offering, a total of $231,150,000 was placed in the Trust Account, with transaction costs amounting to $5,370,179[127]. - The underwriters were granted a 45-day option to purchase up to 3,000,000 additional Units, which was fully exercised, generating additional proceeds for the company[135]. Trust Account and Cash Management - As of September 30, 2025, the company had cash and marketable securities held in the Trust Account totaling $231,493,797.08, intended for use in completing a Business Combination[129]. - The company intends to utilize funds held outside the Trust Account primarily for identifying and evaluating target businesses and conducting due diligence[130]. - The company has a share subscription receivable of $971,902 from the Sponsor, which will be used for operational purposes[130]. Debt and Financing - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2025, and has a monthly obligation of $20,000 for office space and administrative services[133][134]. - The company may require additional financing to complete a Business Combination or to cover redemptions of Public Shares, which could involve issuing additional securities or incurring debt[132].
OTG Acquisition Corp. I Announces the Separate Trading of its Ordinary Shares and Warrants, Commencing on or about November 3, 2025
Globenewswire· 2025-10-29 20:30
Core Viewpoint - OTG Acquisition Corp. I announced that starting on or about November 3, 2025, holders of units from its initial public offering can separately trade ordinary shares and warrants included in those units [1][2]. Company Information - OTG Acquisition Corp. I is a public acquisition vehicle targeting companies in the digital infrastructure services sector, leveraging its management's extensive investment and operational experience [4]. - The company plans to focus on sectors driven by the expansion of data centers, digital infrastructure, power generation, communication technology, and their related ecosystems [4]. Trading Details - No fractional warrants will be issued upon the separation of units, and only whole warrants will be available for trading [2]. - The ordinary shares and warrants will trade on The Nasdaq Global Market under the symbols "OTGA" and "OTGAW," while units that are not separated will continue to trade under the symbol "OTGAU" [2]. - Holders of units must contact Continental Stock Transfer & Trust Company to separate the units into ordinary shares and warrants [2]. Regulatory Information - A registration statement for these securities was declared effective by the U.S. Securities and Exchange Commission on September 11, 2025 [3].
OTG Acquisition(OTGAU) - 2025 Q2 - Quarterly Report
2025-10-24 20:30
Financial Performance - The company reported a net loss of $14,514 for the period from June 12, 2025, to June 30, 2025, primarily due to general and administrative costs[122]. - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2025[131]. - The company has a contractual obligation to pay $20,000 per month for office space and administrative services[132]. Initial Public Offering (IPO) - The Initial Public Offering (IPO) generated gross proceeds of $230,000,000 from the sale of 23,000,000 Units, including the full exercise of the over-allotment option[124]. - An additional $7,750,000 was raised from the sale of 775,000 Private Placement Units at $10.00 per unit[124]. - Total funds placed in the Trust Account after the IPO amounted to $231,150,000, with transaction costs incurred totaling $5,370,179[126]. - The underwriters were granted a 45-day option to purchase up to 3,000,000 additional Units, which was fully exercised[133]. - The company will pay underwriters a cash fee of 4.0% of the gross proceeds of the IPO, amounting to $9,200,000, upon the consummation of the initial Business Combination[134]. Future Plans - The company intends to use substantially all funds in the Trust Account to complete its Business Combination and for working capital purposes[127]. - The company does not anticipate needing to raise additional funds for operating expenditures prior to the Business Combination[130].
Expedition Infrastructure Partners Supports OTG Acquisition Corp. I, a Newly Closed $230 mm SPAC Targeting the Digital Infrastructure Ecosystem
Prnewswire· 2025-09-17 20:45
Core Insights - Expedition Infrastructure Partners ("XIP") serves as a strategic institutional advisor to OTG Acquisition Corp. I, which has successfully raised $230 million in its initial public offering, targeting the rapidly growing Digital Infrastructure Services sector [1][6] - OTG aims to focus on established companies that provide essential products and services in IT infrastructure, power systems, connectivity, environmental controls, IT services, and engineering and construction, which are critical for next-generation data centers [2][6] - The digital infrastructure market is at a pivotal inflection point, with significant demand for computing power, connectivity, and energy management driven by artificial intelligence and data growth, presenting extraordinary opportunities for businesses in this ecosystem [3][6] Company Overview - OTG Acquisition Corp. I is a newly formed special purpose acquisition company focused on the expanding Digital Infrastructure Services sector, led by a management team with extensive investment, operational, and transactional expertise [6] - The company intends to identify and merge with an established, scalable business that provides mission-critical products and services supporting data centers and related infrastructure [6] - XIP will collaborate closely with OTG's board of directors to source and execute transactions in companies well-positioned to thrive in the evolving digital landscape [4]
OTG Acquisition Corp. I Announces Closing of $230,000,000 Initial Public Offering
Globenewswire· 2025-09-15 20:30
Company Overview - OTG Acquisition Corp. I is a special purpose acquisition company targeting companies in the digital infrastructure services sector, focusing on areas driven by the expansion of data centers, digital infrastructure, power generation, and communication technology [9] Initial Public Offering (IPO) - The company closed its initial public offering of 23,000,000 units at $10.00 per unit, generating gross proceeds of $230,000,000, including 3,000,000 units from the underwriters' over-allotment option [1] - The units began trading on the Nasdaq Global Market under the ticker symbol "OTGAU" on September 12, 2025, with each unit consisting of one Class A ordinary share and one-half of one redeemable warrant [2] - Each whole warrant allows the holder to purchase one Class A ordinary share at a price of $11.50 per share [2] Private Placement - Concurrently with the IPO, the company closed on private placements of 775,000 units at $10.00 per unit, resulting in gross proceeds of $7,750,000 [3] Financial Management - Of the net proceeds from the IPO and private placements, $231,150,000 was placed in trust, equating to $10.05 per unit sold in the public offering [7] Leadership and Advisory - The company is led by CEO Scott Troeller and CFO Joseph Dunfee, with support from strategic institutional advisor Expedition Infrastructure Partners, LLC, which has expertise in digital infrastructure and related sectors [4]
OTG Acquisition Corp. I Announces Pricing of $200,000,000 Initial Public Offering
Globenewswire· 2025-09-12 11:00
Company Overview - OTG Acquisition Corp. I is a public acquisition vehicle targeting companies in the digital infrastructure services sector, leveraging management's extensive investment and operational experience [5] Initial Public Offering (IPO) Details - The company announced the pricing of its IPO, offering 20,000,000 units at $10.00 per unit, with units expected to trade on Nasdaq under the ticker symbol "OTGAU" starting September 12, 2025 [1] - The offering is expected to close on September 15, 2025, subject to customary closing conditions, with B. Riley Securities acting as the lead book-running manager [2] - Underwriters have a 45-day option to purchase up to an additional 3,000,000 units to cover over-allotments [2] Regulatory and Compliance Information - A registration statement on Form S-1 related to these securities was filed with the SEC and declared effective on September 11, 2025, with the offering being made only by means of a prospectus [3]