secwatch.observer — SEC 8-K summary
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Issuer:     American Drive Acquisition Co (ADAC)
CIK:        0002083002
Form:       8-K
Filed at:   2025-12-29T23:59:59+00:00
Accession:  0001104659-25-124916
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

American Drive Acquisition closes $230M SPAC IPO; $230M placed in trust
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- IPO of 23,000,000 units at $10.00/unit raised $230,000,000 in gross proceeds.
- Private placement of 4,000,000 warrants at $1.50/warrant to sponsor and Cantor Fitzgerald raised $6,000,000.
- Net proceeds of $230,000,000 deposited into trust account; 24-month deadline to complete initial business combination.
- Underwriters' over-allotment option exercised in full for 3,000,000 additional units.
- Audited balance sheet as of December 19, 2025 filed; company has $1.73M cash outside trust.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2083002/000110465925124916/0001104659-25-124916-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2083002/000110465925124916/tm2534036d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-124916

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