Vernal Capital Acquisition Corp

What Vernal Capital Acquisition Corp does

Vernal Capital Acquisition Corp. is a Cayman Islands-incorporated blank check company (special purpose acquisition company, or SPAC) formed to effect a business combination with one or more businesses, without stated geographic or industry limitations on potential targets. The company completed its initial public offering on May 7, 2026, on the New York Stock Exchange under the ticker symbol VECAU (units), with ordinary shares and rights expected to trade separately under VECA and VECAR respectively. Each IPO unit comprised one ordinary share and one right to receive one-quarter of an ordinary share upon completion of an initial business combination.

The IPO raised $100.0 million in gross proceeds from 10,000,000 units priced at $10.00 per unit, supplemented by a concurrent private placement of 251,250 units that generated an additional $2,512,500, bringing total gross proceeds to $102,512,500. Of these proceeds, approximately $100.5 million has been placed in a trust account for use in a future qualifying business combination. D. Boral Capital LLC acted as sole book-running manager for the offering.

Vernal Capital Acquisition Corp. has no operating business, no product or service revenue, and no disclosed headcount. Its leadership is led by Chief Executive Officer and Chairman Mr. Du Jun and Chief Financial Officer and Executive Director Mr. Yi Binghan, supported by three independent directors: Ms. Wang Pei, Mr. Saloon Tham, and Dr. Fu Qiang. The company's sole disclosed investment activity to date is participation alongside Avenir Group in a nearly US$10 million funding round for WasabiCard, a stablecoin-based global payments infrastructure company. The entity functions as a capital-raising vehicle whose investment thesis will be defined by the identity and quality of its yet-to-be-announced business combination target.

Name

Vernal Capital Acquisition Corp

Legal name

Vernal Capital Acquisition Corp.

Website

https://vernalspac.com

Company type

Public

Founded year

2025

Operating status

Ipo

Short description

Vernal Capital Acquisition Corp. is a Cayman Islands-incorporated SPAC that completed a $102.5 million NYSE IPO in May 2026, led by CEO Du Jun and CFO Yi Binghan, to pursue a business combination with one or more businesses across any geography or industry.

Ownership category

akta.pro rank

Product category

Special Purpose Acquisition Company (SPAC)

NAICS

Securities and Commodity Exchanges (5232), Other Financial Investment Activities (5239)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

SME / Growth Market Stock Exchanges (FSAFAAAC)

akta.pro secondary industry

Corporate Fintech / Insurtech CVC (Financial-services-led CVC) (FSANAHAK)

Keywords

• Blank check company
• Special purpose acquisition
• Business combination vehicle
• SPAC IPO units
• Capital formation services

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Others, Marketing or Sales

Core offering

Vernal Capital Acquisition Corp. is a Cayman Islands-incorporated blank check company (SPAC) formed to effect a business combination with one or more businesses, with no geographic or industry limitations on potential targets. It raised approximately $102.5 million in gross proceeds through an IPO of 10,000,000 units at $10.00 per unit on the NYSE, with proceeds placed in trust to fund a future acquisition or merger.

Product overview

Vernal Capital Acquisition Corp. is a blank check company (SPAC) incorporated in the Cayman Islands, formed to effect a business combination with one or more businesses. The company conducted an IPO of 10,000,000 units at $10.00 per unit, raising $100 million. Each unit consists of one ordinary share and one right to receive one-quarter of a share upon completing a business combination. The company has no stated limitations on industry or geographic region for potential target acquisitions. Ordinary shares and rights are expected to trade separately under "VECA" and "VECAR" respectively.

Differentiator

Problem solved

Functional benefit

Products and services

• VECAU Units (IPO Units) Investment units offered in the IPO, each comprising one ordinary share and one right to receive one-quarter of an ordinary share upon completion of an initial business combination. Units trade on NYSE under ticker symbol VECAU; ordinary shares and rights are expected to trade separately under VECA and VECAR.

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• Yellowstone Acquisition Company: Yellowstone Acquisition Company is a small-cap SPAC pursuing an initial business combination. Its size, blank-check structure, and pre-deal status closely mirror Vernal's profile, making it a comparable for both target competition and valuation benchmarking.
• ESM Acquisition Corporation: ESM Acquisition Corporation is an active NYSE-listed SPAC of broadly comparable size pursuing a single business combination. It is the most direct structural and operational analogue to Vernal: same blank-check mandate, similar trust scale, and same pre-deal operating profile.
• Spring Valley Acquisition Corp. Spring Valley Acquisition Corp. is a recently IPO'd SPAC structured as a blank check company seeking an initial business combination. Like Vernal, it is a small, sector-agnostic Cayman vehicle raising comparable trust proceeds and competing for the same pool of mid-cap targets.
• CF Acquisition Corp. IV: CF Acquisition Corp. IV is part of the CF Acquisition SPAC series, a repeat SPAC sponsor with multiple prior vehicles. It is comparable to Vernal as a publicly listed blank check company competing for targets, with the additional distinction of a sponsor that has executed prior deals.
• American Exceptionalism Acquisition Corp. American Exceptionalism Acquisition Corp. is a publicly listed SPAC with a flexible, industry-agnostic acquisition mandate. It is comparable to Vernal in structure, stage (pre-business-combination), and investor base, making it a near-direct competitor for target opportunities.

Broad incumbents

• SoFi Technologies, Inc. SoFi Technologies completed its public listing via a SPAC merger and has since scaled into a broad consumer finance platform. While much larger, it illustrates the scale potential of a successful SPAC business combination in the fintech vertical where Vernal has signaled interest.
• Pagaya Technologies Ltd. Pagaya Technologies went public via a SPAC business combination and now operates as a publicly listed AI-driven fintech. It is relevant as a downstream comparable showing what a successful Vernal target/deal could evolve into post-listing in the financial technology category.

Others

• D. Boral Capital LLC: D. Boral Capital served as sole book-running manager on Vernal's IPO and is a repeat SPAC underwriter and capital markets advisor. It is comparable as an ecosystem participant that can source co-advisory, PIPE financing, and follow-on offerings for SPAC clients like Vernal.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat2 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vernal Capital Acquisition Corp