New Iceland Arctic Acquisition Corp.

What the company does

New Iceland Arctic Acquisition Corp. is a blank check 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 decades of experience across institutional asset management, private equity, mergers and acquisitions, legal and regulatory matters, capital markets, and strategic advisory services, and the Company believes it is well-positioned to identify Icelandic and broader Arctic companies in high-growth sectors.

Use of proceeds

Of the proceeds received from this offering and the sale of the private placement units, $100,250,000 (or $115,287,500 if the underwriter's over-allotment option is exercised in full), equal to $10.025 per unit, will be deposited into a segregated trust account located in the United States. Except as described in the prospectus, these funds will not be released until the earlier of (1) the completion of the initial business combination, (2) the redemption of any public shares properly submitted in connection with certain amendments to the amended and restated memorandum and articles of association, or (3) the redemption of 100% of the outstanding public shares if the Company has not completed an initial business combination within the completion window.

Underwriters

Extracted from S-1/A 0001185185-26-004748, filed Oct 14, 2026 and verified against that filing text.

Key risk factors

• Public shareholders may not be afforded a vote on the proposed 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 may impede a business combination

  “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.”

• Conflicts of interest from officers and directors with other entities

  “As more fully discussed in "Management - Conflicts of Interest," each of our officers and directors presently has, and any of them in the future may have additional, fiduciary, contractual or other obligations or duties to one or more other entities pursuant to which such officer or director is or will be required to present a business combination opportunity to such entities.”

• Low founder share purchase price creates profit incentive regardless of post-combination value

  “The low price that our Sponsor, officers and directors (directly or indirectly) paid for the founder shares creates an incentive whereby such persons could potentially make a substantial profit even if we select an acquisition target that subsequently declines in value and is unprofitable for public shareholders.”

• Dilution risk to public shareholders from founder share conversion

  “Further, the Class A ordinary shares issuable on conversion of the founder shares in connection with the business combination may result in material dilution to our public shareholders due to the anti-dilution rights of our founder shares that may result in an issuance of Class A ordinary shares on a greater than one-for-one basis.”

• No minimum net tangible asset requirement; no limitation on amount of shares that may be redeemed

  “Our amended and restated memorandum and articles of association will not contain a minimum net tangible asset condition, such as the $5,000,001 net tangible asset requirement.”

• Investors not entitled to Rule 419 blank check protections

  “Investors will not be entitled to protections normally afforded to investors in Rule 419 blank check offerings.”

• Investment involves a high degree of risk

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