Arc Group Securities Acquisition I cuts IPO target to $105M

Arc Group Acquisition I, a SPAC led by executives from Bio Green Med Solution and ARC Group, has reduced the size of its IPO to $105 million, down from a previously proposed $150 million. The company now plans to offer 10.5 million units at $10 per unit, with each unit consisting of one share of common stock, one warrant exercisable at $11.50, and one right to receive one-fourth of one ordinary share upon the completion of a business combination. This marks a significant reduction from its original filing of 25 million units.

The SPAC, founded in 2025, intends to list on Nasdaq under the symbol ARCLU. The management team includes Datuk Wong, CEO of Bio Green Med Solution (Nasdaq: BGMS), as CEO and Director, along with CFO Cu Seng Kui and COO Ian Hanna. While no specific target industry or geography has been identified, the SPAC has stated its focus will be on acquiring businesses with enterprise values of $700 million or more. Arc Group Securities and IB Capital are serving as joint bookrunners for the offering.