Acri Capital Acquisition Corporation
ACACW
NASDAQ Global Market0.26
USD
+0.08
- -
CIK
0001914023
ISIN
US00501A1198
CUSIP
00501A119
Return %
Stock
S&P500
1Y
160.00
26.84
3Y
420.00
77.03
5Y
-82.89
80.55
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Yi Hua
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- Austin DE United States of America
- CIK
- 0001914023
- Similar Companies
- Business
- Acri Capital Acquisition Corporation (Nasdaq: ACACW) operates as a blank check company, or special purpose acquisition company, focused on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses; it targets technology-enabled sectors including e-commerce, financial services, edtech, and health information services primarily in North America. The company offers no independent products or services beyond its SPAC structure, which facilitates public listings for target entities through its trust account backed by proceeds from its 2022 initial public offering of 8.625 million units at $10 each. Incorporated in 2022 as a Delaware corporation, Acri Capital maintains headquarters at 13284 Pond Springs Road, Suite 405, Austin, Texas 78729. In its major recent development, Acri Capital completed a reverse merger with Foxx Development Inc., a consumer electronics and integrated Internet-of-Things (IoT) solutions provider serving retail and institutional clients, on September 26, 2024, following stockholder approval on August 27, 2024; this transaction marked the culmination of a business combination initially announced in February 2024 with up to $50 million in stock issuance and potential earnouts. Prior to closing, the company secured multiple monthly extensions of its initial business combination deadline from April 2024 through January 2025, funded by $50,000 deposits from Foxx into the trust account, including the final extension from September 14 to October 14, 2024. Post-merger, trading of Foxx Development's common stock and warrants commenced under new symbols, reflecting the combined entity's shift to active IoT operations globally via partnerships with mobile network operators, distributors, and suppliers.