BHAV Acquisition Corp. has successfully closed its initial public offering, raising $100 million. The special purpose acquisition company (SPAC) priced 10,000,000 units at $10.00 per unit. The funds raised will be utilized to pursue and complete a business combination with a target company.
The offering consisted of 10,000,000 units, with each unit priced at $10.00. Each unit comprises one Class A ordinary share and one right. These rights entitle the holder to receive one-fourth of a Class A ordinary share upon the successful completion of the company’s initial business combination. A total of $10.00 per unit was deposited into a trust account managed by Continental Stock Transfer & Trust Company.
The units commenced trading on the Nasdaq Global Market under the ticker symbol “BHAVU” on March 19, 2026. Following the separate trading of the constituent securities, the Class A ordinary shares are expected to trade as “BHAV” and the rights as “BHAVR” on the Nasdaq.
BHAV Acquisition Corp. is a blank check company formed with the specific purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses. The company intends to leverage the net proceeds from this offering and a simultaneous private placement to identify and complete such a business combination. While not explicitly stated in all releases, some sources suggest a focus on sectors including industrial robotics, electric vehicles (EVs), drones, and fintech.
The company is led by Giri Devanur, serving as Chief Executive Officer and Director, and Chaitanya Kumar Setti, who holds the positions of Chief Financial Officer and Director. Maxim Group LLC acted as the sole book-running manager for the offering. The underwriter has been granted a 45-day option to purchase up to an additional 1,500,000 units at the IPO price, less underwriting discounts, to cover any potential over-allotments.
The U.S. Securities and Exchange Commission (SEC) declared the company’s registration statement on Form S-1 effective on March 18, 2026. The offering was made exclusively through a prospectus. The offering was expected to close on March 20, 2026, subject to customary closing conditions.