Starlink AI Acquisition Corp (NYSE:OTAI) has finalized its initial public offering and a concurrent private placement, as disclosed in a recent SEC filing.
On May 11, the company closed its IPO, issuing 10,000,000 units at $10.00 each, raising gross proceeds of $100,000,000. Each unit consists of one ordinary share (par value $0.0001) and one right. Each right entitles the holder to receive one-fourth of one ordinary share upon completion of an initial business combination.
Simultaneously, Starlink AI completed a private placement of 221,500 units to its sponsor, JKapital Ltd., at $10.00 per unit, generating additional gross proceeds of $2,215,000. Each private unit comprises one ordinary share and one right.
Combined proceeds from the IPO and private placement totaled $102,215,000. Of this, $100,500,000 was placed into a U.S.-based trust account managed by Continental Stock Transfer & Trust Company.
The company also issued an audited balance sheet as of May 11, 2026, reflecting receipt of the IPO and private placement proceeds, included as an exhibit to the SEC filing.
Starlink AI Acquisition Corp is incorporated in the Cayman Islands. Its units, ordinary shares, and rights are listed on the NYSE under symbols OTAIU, OTAI, and OTAIR, respectively.
This information is based on a press release statement in the company's SEC filing.
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