Core Viewpoint - BHAV Acquisition Corp successfully closed its initial public offering (IPO) of 10,000,000 units at a price of $10.00 per unit, with the units beginning to trade on Nasdaq under the ticker symbol "BHAVU" on March 19, 2026 [1]. Group 1 - The offering consists of one Class A ordinary share and one right per unit, with each right entitling the holder to receive one-fourth of a Class A ordinary share upon the completion of the Company's initial business combination [1]. - An amount equal to $10.00 per unit was deposited into a trust account with Continental Stock Transfer & Trust Company acting as trustee upon the closing of the offering [1]. - The Company has granted the underwriter a 45-day option to purchase up to 1,500,000 additional units at the offering price to cover over-allotments [3]. Group 2 - BHAV intends to utilize the net proceeds from the offering and a simultaneous private placement of units to pursue and complete a business combination [2]. - The Company is led by Giri Devanur as Chief Executive Officer and Chaitanya Kumar Setti as Chief Financial Officer [2]. - Maxim Group LLC acted as the sole book-running manager for the offering [2]. Group 3 - A registration statement on Form S-1 related to the securities sold in the offering was declared effective by the U.S. Securities and Exchange Commission on March 18, 2026 [4]. - The offering was conducted solely by means of a prospectus, which can be obtained from Maxim Group LLC or accessed via the SEC's website [4]. Group 4 - BHAV Acquisition Corp is classified as a blank check company or special purpose acquisition company (SPAC), formed to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses [6].
BHAV Acquisition Corp Announces Closing of $100 Million Initial Public Offering