Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our equity securities trade on the Nasdaq Stock Market. Each of our units consists of one Class A ordinary share and one-third of one redeemable warrant, each whole warrant exercisable for one Class A ordinary share upon the completion of a business combination, and, commencing on January 21, 2026, trades on the Nasdaq Stock Market under the symbol “ALOVU.” The ordinary shares and warrants underlying our units are trading separately on the Nasdaq Global Market under the symbols “ALOV” and “ALOVW,” respectively.
Holders of Record
On March 2, 2026, there was 1 holder of record of our units, 5 holders of record of our ordinary shares, and 4 holder of record of our warrants. Such numbers do not include beneficial owners holding our securities through nominee names.
Dividends
We have not paid any cash dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of our initial business combination. A Cayman Islands company may pay a dividend on its shares out of either profit or the share premium account, provided that in no circumstances may a dividend be paid if following such payment the company would be unable to pay its debts as they fall due in the ordinary course of business. The payment of cash dividends following completion of our initial business combination will be within the discretion of our board of directors at such time and will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition at such time. There is no certainty we will be in a position to, or decide to, pay cash dividends after completing any business combination. If we increase or decrease the size of the Initial Public Offering pursuant to Rule 462(b) under the Securities Act, we will effect a share capitalization or other appropriate mechanism immediately prior to the consummation of the Initial Public Offering in such amount as to maintain the number of founder shares at 20% of our issued and outstanding ordinary shares upon the consummation of the Initial Public Offering. Further, if we incur any indebtedness in connection with our initial business combination, our ability to declare dividends following completion of our initial business combination may be limited by restrictive covenants we may agree to in connection therewith.
Use of Proceeds from our Initial Public Offering
On January 23, 2026, the Company consummated the Initial Public Offering of 30,015,000 Units, including 3,915,000 Units issued pursuant to the exercise of underwriters’ over-allotment option in full. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $300,150,000. Simultaneously with the closing of the Initial Public Offering, the Company consummated the private placement of 3,126,666 warrants to the Sponsor and an aggregate of 1,740,000 warrants to the underwriters at a price of $1,50 per Private Placement Warrant, generating gross proceeds of $7,300,000.
Following the closing of the Initial Public Offering, on January 23, 2026, a total of $300,150,000 of the net proceeds from the Initial Public Offering and the Private Placement was placed in the Trust Account, with Continental acting as trustee. Transaction costs related to the issuances described above amounted to $18,350,595, consisting of $5,220,000 of cash underwriting fees, $12,789,000 of deferred underwriting fees and $341,595 of other offering costs.
For a description of the use of the proceeds generated in our Initial Public Offering, see Part II, Item 7 of this Annual Report.
ITEM 6. [RESERVED]
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