SPAC ARC Group Acquisition I lowers unit offering by 40%, changes name, and overhauls management ahead of $150 million IPO
April 9, 2026 News
SPAC ARC Group Acquisition I decreases units offered by 30% ahead $105 million IPO
ARC Group Acquisition I, a blank check company led by executives from Bio Green Med Solution and ARC Group, lowered the proposed deal size for its upcoming IPO on Thursday.
IPO Overview
ARC Group Acquisition I, formerly D. Boral ARC Acquisition II, is a blank check company led by executives from Bio Green Med Solution and ARC Group, lowered the proposed deal size for its upcoming IPO on Wednesday. The SPAC also changed its name and management after D. Boral Capital withdrew as a co-sponsor of the company.
The New York, NY-based company now plans to raise $150 million by offering 15 million units at a price range of $10. The company had previously filed to offer 25 million units. Each unit still consists of one share of common stock and one-half of one warrant, exercisable at $11.50. At the revised deal size, ARC Group Acquisition I will raise 40% less in proceeds than previously anticipated.
Arc Group is now led by CEO and Director Datuk Wong, the CEO of Bio Green Med Solution （Nasdaq: BGMS）。 He is joined by CFO Cu Seng Kui, the CFO of Bio Green Med Solution, and COO and Director Ian Hanna, the CEO and Partner of ARC Group Securities.
While it hasn’t selected a target industry or geography, the SPAC plans to focus on businesses with enterprise values of $700 million or greater.
ARC Group Acquisition I was founded in 2025 and plans to list on the Nasdaq under the symbol ARBCU. Arc Group Securities is the sole bookrunner on the deal.
About the Company
We are a blank check company. While we may pursue an acquisition opportunity in any business, industry, sector or geographical location, we intend to focus on industries that complement our management team’s background, and to capitalize on the ability of our management team to identify and acquire a business. We will seek to acquire one or more businesses with an aggregate enterprise value of $700 million or greater, although, if we believe it is in the best interests of our shareholders, we may pursue a business combination with a target below that size. We believe that the experience and capabilities of our management team will make us an attractive partner to potential target businesses, enhance our ability to complete a successful business combination, and bring value to the business post-business combination. Not only does our management team bring a combination of operating, investing, financial and transactional experience, but members of our management team have also worked closely together in the past at multiple operating companies and have successfully identified and closed two special purpose acquisition company （“SPAC”） business combinations. Our team has broad sector knowledge though their collective involvement across a variety of industries, as well as extensive global capital markets experience, with local and cross-border capabilities allowing access to different sectors of the capital markets.