ZA Acquisition I, a newly formed special purpose acquisition company (SPAC), filed with the U.S. Securities and Exchange Commission on Monday to raise up to $75 million through an initial public offering. The company plans to offer 7.5 million units at $10 each, targeting established businesses with predictable recurring revenue and defensible market positions.

SPAC Structure and IPO Details

ZA Acquisition I intends to raise $75 million by issuing 7.5 million units at $10 per unit. Each unit consists of one ordinary share and one right to receive an additional share upon completion of an initial business combination.

The company plans to list on the Nasdaq under the ticker symbol ZACAU. It filed confidentially on September 25, 2026, before submitting its public registration statement. D. Boral Capital has been appointed as the sole bookrunner for the offering.

Management and Leadership

ZA Acquisition I is led by CEO and Chairman Jonathan Gazdak, who serves as Head of Investment Banking at Alexander Capital and is a co-founder of ZA Capital Partners.

CFO and Director Michael James joins the leadership team. He previously served as CFO of LuxUrban Hotels, formerly listed on Nasdaq under LUXH, and Edible Garden (Nasdaq: EDBL).

The management team’s investment banking and corporate finance experience forms part of the SPAC’s leadership profile as it prepares to pursue a business combination.

Acquisition Strategy and Target Market

ZA Acquisition I plans to pursue established businesses with predictable, recurring revenue and defensible market positions. The filing does not identify a specific industry or geographic sector for its acquisition strategy.

Its stated focus suggests an emphasis on businesses with established revenue streams and competitive positioning rather than a narrowly defined industry mandate. However, the company has not disclosed a specific acquisition target.

Market Context and Considerations

The proposed $75 million offering provides ZA Acquisition I with capital to pursue its initial business combination following the listing. Its unit structure includes an ordinary share and a right to receive an additional share upon completion of a transaction.

Investors will be evaluating the management team’s ability to identify a suitable acquisition candidate and negotiate a transaction consistent with the company’s stated investment criteria. As with other SPACs, the eventual outcome will depend on the quality of the selected business, transaction terms, and shareholder approval.

Closing Insights

ZA Acquisition I’s proposed Nasdaq IPO adds another SPAC to the U.S. listing pipeline, with a strategy centered on established businesses generating recurring revenue. Led by Jonathan Gazdak and Michael James, the company is seeking $75 million through a unit offering that includes ordinary shares and acquisition-completion rights. Its next significant milestone will be identifying a target that aligns with its stated focus on predictable revenue and defensible market positions.