Indigo Sponsor Group sponsors this SPAC, which raised $115M in its IPO completed in July 2025. Like all SPACs, it has no operating business — it exists solely to identify, negotiate, and close a merger or acquisition with a private company, taking that company public through what is called a Business Combination. The SPAC has until April 2, 2027 to close a deal; if it fails, it must return trust proceeds to public shareholders. IPO investors paid $10.00/unit, with proceeds held in trust invested in U.S. government securities or money market funds, allowing shareholders to redeem at roughly par if no deal closes or if they dislike the target. The sponsor received Founder Shares for a nominal investment, which only convert to real equity upon deal close, giving the sponsor a strong incentive to complete a transaction. The SPAC has no stated industry or geographic focus, and management says it is targeting established, profitable companies with attractive market positions or growth potential. Because the SPAC intends to target businesses with enterprise values larger than the ~$115M in trust, it would likely layer in additional debt or equity financing to fund a larger acquisition.