- Business
- Stellar V Capital Corp. is a blank check company, or special purpose acquisition company (SPAC), incorporated as a Cayman Islands exempted company whose business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company offers no operating products or services, focusing instead solely on identifying and executing an initial business combination with a target business of scale led by proven management; it generates no revenue and maintains minimal operations pending such a transaction. Founded in 2024 by Greek shipping executives Prokopios Tsirigakis and George Syllantavos, who serve as co-CEOs, the company is headquartered at 230 Park Avenue, Suite 1540, New York, NY, with its management team boasting a track record of completing four prior SPAC IPOs and business combinations globally. In its most recent development, Stellar V Capital closed a $150 million initial public offering of 15 million units priced at $10.00 each on January 31, 2025, listed on Nasdaq under SVCCU, with separate trading of Class A ordinary shares (SVCC) and warrants (SVCCW) commencing March 24, 2025; the offering included a simultaneous private placement of 555,000 units to sponsor Stellar V Sponsor LLC and BTIG, LLC, generating additional proceeds of $5.55 million for funding the initial business combination. The company, led by directors including Nicolas Bornozis, Christopher Thomas and Harry Braunstein, targets established businesses across industries without geographic restrictions.