Vernal Capital Acquisition Corp. closes IPO of 10M units at $10, deposits $100.5M into trust

Vernal Capital Acquisition Corp.

IPO gross proceeds of $100M from 10M units at $10.00 per unit.
Private placement of 251,250 units to sponsors at $10.00 per unit, generating $2.5M.
$100.5M from IPO and private placement deposited into trust account ($10.05 per unit).
Audited balance sheet shows total assets of $101.5M, cash outside trust of $943,073.
Auditor notes substantial doubt about going concern if business combination not completed within 15 months.

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