Norton Rose Fulbright advises D. Boral Capital on US$115 million IPO

Global law firm Norton Rose Fulbright represented D. Boral Capital LLC as underwriter in connection with the US$115 million initial public offering (IPO) of Southern Cross Acquisition I Corp. (Nasdaq: NCOOU), a special purpose acquisition company (SPAC). The transaction closed on July 22, 2026.

The IPO comprised 11.5 million units priced at US$10 each, including 1.5 million units sold pursuant to the full exercise of the underwriter's over-allotment option. Each unit consists of one ordinary share, one redeemable warrant and one right to receive one-fourth of an ordinary share upon completion of an initial business combination. The units began trading on the Nasdaq Global Market under the ticker symbol "NCOOU" on July 21, 2026.

Concurrently with the closing of the IPO, Southern Cross Acquisition I Corp. completed a private placement of 239,300 units at US$10 per unit, resulting in gross proceeds of approximately US$2.4 million. The private placement units are identical to the units sold in the IPO, subject to certain limited exceptions described in the final prospectus. D. Boral Capital LLC acted as sole book-running manager of the offering.

"This offering comes as the SPAC market is experiencing a strong resurgence, with disciplined, experienced sponsors leading a return to activity we haven't seen in years," said Amelia Zhang, who led Norton Rose Fulbright's representation. "We were proud to help D. Boral Capital capitalize on that momentum and give Southern Cross Acquisition I Corp. a strong platform to execute its growth strategy."

Norton Rose Fulbright's team was led by Amelia Zhang and included Danielle Bodunrin (Houston) and Kevin Chen (New York). The firm's global corporate, M&A and securities practice advises corporations and financial institutions across the full spectrum of transactions, including public takeovers, private M&A, joint ventures, disposals, debt and equity capital markets, governance and corporate advisory matters.