UY Scuti Acquisition Corp completes $50M IPO, deposits $53.6M in trust

UY Scuti Acquisition Corp.

IPO of 5M units at $10/unit closed April 1, gross proceeds $50M; 357,622 over-allotment units sold April 7 for $3.58M.
Private placement of 227,500 units to sponsor at $10/unit raised $2.275M (incl. $275k debt cancellation); additional 6,258 units at $62.6k.
Total trust deposit $53.58M as of April 7; balance sheet shows $50.8M assets, $45.3M redeemable shares, $5.38M equity.
Going concern: company must complete business combination by April 1, 2026 (or up to Oct 1, 2026 with two 3-month extensions) or liquidate.
Underwriters have remaining over-allotment option for 392,378 units at $10; sponsor may fund $0.10/share per extension period.

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