Shepherd Ave Capital Acquisition Corporation closed its initial public offering of 8,625,000 units at a price of $10.00 per unit, for aggregate gross proceeds of $86,250,000. The offering size reflects the full exercise of the underwriter’s over-allotment option. Each unit consists of one of the Company’s Class A ordinary shares (the “Class A Ordinary Shares”) and one right (the “Rights”), with each whole right entitling the holder thereof to receive one-fifth (1/5th) of one Class A Ordinary Share upon the consummation of an initial business combination. No fractional rights will be issued upon separation of the units and only whole rights will trade.

The units are listed on the Nasdaq Global Market LLC (“Nasdaq”) and began trading under the ticker symbol “SPHAU” on December 5, 2024. Once the securities comprising the units begin separate trading, the Class A Ordinary Shares and Rights are expected to be listed on the Nasdaq under the symbols “SPHA” and “SPHAR,” respectively.

SPAC Advisory Partners LLC, a division of Kingswood Capital Partners, LLC, acted as the sole book-running manager for the initial public offering.

Winston & Strawn LLP represented SPAC Advisory Partners LLC, a division of Kingswood Capital Partners, LLC, as underwriter, in connection with the closing of Shepherd Ave Capital Acquisition Corporation’s (NASDAQ: SPHAU) initial public offering. The offering comprised 8,625,000 units priced at $10.00 per unit, resulting in gross proceeds of $86,250,000, including the full exercise of the underwriter’s over-allotment option. Each unit consisted of one Class A ordinary share and one right entitling the holder to one-fifth of a share upon the consummation of a business combination.

SPHA is a newly incorporated, blank check company formed in the Cayman Islands for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. While the Company may pursue an initial business combination target in any business or industry, it intends to identify companies with strong management team, niche deal size with growth potential, long-term revenue visibility with defensible market position, and benefits from being a U.S. public company. The sponsor of the Company is Aitefund Sponsor LLC.