Daily IPO Digest
Daily Digest — September 17, 2026
Published
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Just filed
Lower Cross Acquisitions Corp
No ticker yet · Initial S-1 · up to $200 million trust (up to $230 million with greenshoe) · exchange not yet set
The Barasch team's fourth healthcare SPAC is filing to raise $200 million in trust — up to $230 million if the 45-day greenshoe is exercised — at $10.00 per unit. The sponsor paid $25,000 total for founder shares representing 25% of post-IPO equity; the deferred underwriting commission alone runs $7 million, payable only upon a completed combination. The team has two prior completed deals on record: DFB Healthcare raised $250 million and closed with an 83.5% redemption rate — AdaptHealth, the resulting company, last traded at $5.82, well below trust value. DFP raised $230 million, closed with a 74.7% redemption rate, and Starling Oncology now trades at $6.37. The combination deadline is 720 days from closing. The structural math is straightforward: initial shareholders hold 25.74% of post-IPO equity at a cost basis of $0.0033 per share, while public shareholders enter at $10.00 with full execution risk. The prior track record is the disclosure worth reading first.
Sources
Regulatory filings
- SEC filings