UY Scuti Acquisition Corp. Announces Separate Trading of Ordinary Shares and Rights.

UY Scuti Acquisition Corp. announced that holders of units sold in the company's initial public offering can separate the underlying component securities, including one ordinary share and one right to receive one-fifth of a share, starting May 27, 2025. Units not separated will continue to trade on Nasdaq under the symbol "UYSCU," while separated shares and rights will trade under "UYSCU" and "UYSCR," respectively.

UY Scuti Acquisition Corp. (NASDAQ: UYSCU) has announced that holders of units sold in the company's initial public offering (IPO) can separate the underlying component securities, including one ordinary share and one right to receive one-fifth of a share, starting May 27, 2025. Units not separated will continue to trade on Nasdaq under the symbol "UYSCU," while separated shares and rights will trade under "UYSC" and "UYSCR," respectively.

The company, established in the Cayman Islands as a blank check company, aims to effect a merger, capital stock exchange, asset acquisition, or similar business combination with one or more businesses. The IPO, managed by Maxim Group LLC, was completed successfully by selling 5 million units at $10 each, generating $50 million in gross proceeds. Each unit includes one ordinary share and a right to receive one-fifth of a share upon a future business combination.

In conjunction with the IPO, UY Scuti Acquisition Corp. conducted a private placement with its sponsor, UY Scuti Investments Limited, selling 227,500 units at the same price, which contributed an additional $2.275 million to its funds. This amount includes a $275,000 debt cancellation. The underwriters also exercised a portion of their over-allotment option, purchasing an additional 357,622 units and bringing in $3.576 million more. As a result, the trust account’s balance has reached approximately $53.576 million.

An audited balance sheet as of April 1, 2025, reflecting these proceeds, was released and filed with the Securities and Exchange Commission (SEC). The registration statement for these securities was declared effective by the SEC on March 31, 2025, and is accessible on the SEC’s website.

The press release contains forward-looking statements, which are not historical facts and involve risks and uncertainties. These statements reflect the company’s current expectations concerning its search for an initial business combination. The company has cautioned that actual results could differ materially from those projected in the forward-looking statements due to various risks and uncertainties, as detailed in the Risk Factors section of the company’s registration statement and final prospectus filed with the SEC. UY Scuti Acquisition Corp. has also stated that it does not undertake any obligation to publicly update or revise any forward-looking statements, except as required by law.

References:
[1] https://kr.investing.com/news/company-news/article-93CH-1487471
[2] https://www.nasdaq.com/articles/sizzle-acquisition-corp-ii-announces-separation-class-ordinary-shares-and-rights-trading