Karmen Line acquisition opens at $9.95, IPO at $10

KARMAN LINE ACQUISITION CORP. (XTERU) began trading on the Nasdaq Global Market on August 18, 2026, with an opening price of $9.95 per unit, slightly below the $10.00 IPO price. The company raised $200 million through the offering of 20,000,000 units, each consisting of one Class A ordinary share and one-half of a redeemable warrant. The offering is expected to close on August 19, 2026, subject to customary conditions.

Each whole warrant allows the holder to purchase one Class A ordinary share at $11.50, subject to adjustments. Once the units begin separate trading, the Class A ordinary shares and warrants are expected to trade under the symbols “XTER” and “XTERW,” respectively.

The company, a special purpose acquisition company (SPAC), is focused on pursuing business combinations in sectors related to space-based infrastructure, with an emphasis on aerospace and defense. Cohen & Company Capital Markets and Clear Street LLC are serving as book-running managers for the offering.

The underwriters have a 45-day option to purchase additional units to cover over-allotments, if necessary. The registration statement for the offering was declared effective by the SEC on August 17, 2026.