Southern Cross operates as a special purpose acquisition company, or SPAC, formed to merge with or acquire a private business. As a blank check company, Southern Cross has no current operations and exists solely to identify and complete an initial business combination. The company holds its IPO proceeds in a trust account until a transaction occurs or the company liquidates. Southern Cross maintains a 12-month window from its IPO to close a deal, after which it must return funds to shareholders. The business model relies on a sponsor structure where the sponsor holds founder shares that only realize value if a merger is completed. This structure creates a financial incentive for management to close a transaction. Public investors hold units consisting of shares, warrants, and rights, and they maintain the right to redeem their shares for a pro-rata portion of the trust account regardless of how they vote on a proposed deal. While Southern Cross is industry-agnostic, management expects to focus on targets with ties to China or Hong Kong due to the executive team's geographic expertise and professional networks. Target criteria include companies with industry leadership potential, near-term growth catalysts, and a need for a U.S. public listing. The company seeks targets with a fair market value representing at least 80% of its trust account balance.