New Iceland Arctic Acquisition Corp. Filed SPAC Primary

What the company does

New Iceland Arctic Acquisition Corp. is a Cayman Islands exempted company newly organized as a blank check company or special purpose acquisition company (SPAC) formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses. The Company intends to focus its search on high growth operating companies in Iceland and the broader Arctic region. Its Icelandic and American management team and board have a decades-long track record combining experience across institutional asset management, private equity, mergers and acquisitions, legal and regulatory matters, capital markets, and strategic advisory services.

Use of proceeds

Of the proceeds from this offering and the sale of the private placement units, $125,000,000 ($10.00 per unit), will be deposited into a segregated trust account established with Continental Stock Transfer & Trust Company as trustee. These funds will not be released to the Company until the earlier of the completion of the initial business combination, the redemption of public shares in connection with certain amendments to the amended and restated memorandum and articles of association, or the redemption of 100% of the outstanding public shares if no initial business combination is completed within the completion window. Proceeds from the sale of the founder shares will not be placed in the trust account.

Underwriters

Extracted from S-1 0001185185-26-003850, filed Sep 4, 2026 and verified against that filing text.

Key risk factors

• No shareholder vote on business combination

  “Our public shareholders may not be afforded an opportunity to vote on our proposed business combination, which means we may complete our initial business combination even though a majority of our public shareholders do not support such a combination.”

• Limited Icelandic target universe

  “Iceland has a small economy with a limited number of companies that may meet our acquisition criteria, which may make it more difficult for us to complete our initial business combination within the required time period or on terms favorable to our shareholders.”

• Dilution from founder shares

  “The nominal purchase price paid by our Sponsor for the founder shares may result in significant dilution to the implied value of your public shares upon the consummation of our initial business combination, and our Sponsor is likely to make a substantial profit on its investment in us in the event we consummate an initial business combination, even if the business combination causes the trading price of our ordinary shares to materially decline.”

• Loss of entire investment

  “An investment in our securities involves a high degree of risk.”