Wall Street closes at a record for the first time since end of January
NEW YORK - Harvard Ave Acquisition Corporation (Nasdaq:HAVAU) completed its initial public offering, raising $145 million before deducting underwriting discounts and expenses, according to a press release statement. The SPAC’s units have maintained stability since listing, trading at $9.99 with average daily volume of 3.13 million shares.
The blank check company sold 14.5 million units at $10.00 each. The units, which began trading on Nasdaq on October 23, 2025, consist of one Class A ordinary share and one right to receive one-tenth of one Class A ordinary share. Trading data from InvestingPro shows the stock has maintained a narrow range between $9.98 and $10.00 since its debut.
Once the securities begin separate trading, the Class A ordinary shares and rights are expected to trade under the symbols HAVA and HAVAR, respectively.
Harvard Ave Acquisition, incorporated as an exempted company under Cayman Islands law, intends to pursue a business combination with one or more businesses. While the company may target any industry, it plans to focus on sectors that complement its management team’s background.
D. Boral Capital LLC served as the sole book-running manager for the offering. Legal counsel was provided by Robinson & Cole LLP for the company and Winston & Strawn LLP for the underwriter.
The offering was made through a registration statement on Form S-1 that was declared effective by the Securities and Exchange Commission on September 30, 2025.
Harvard Ave Acquisition is led by Chief Executive Officer Sung Hyuk Lee. The company joins the growing list of special purpose acquisition companies (SPACs) seeking merger targets in various sectors. For detailed analysis and exclusive insights on SPAC opportunities, visit InvestingPro for comprehensive financial metrics and expert research.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.