ZA Acquisition Corp. I

What the company does

The company is a Cayman Islands blank-check issuer seeking to complete an initial business combination. It has 12 months from the closing of the offering to consummate an initial business combination, unless shareholders approve an extension.

Use of proceeds

Of the proceeds received from the offering and sale of private units, $75,000,000, or $86,250,000 if the underwriters’ over-allotment option is exercised in full, will be deposited into a United States-based trust account. Except as described in the prospectus, those funds will not be released to the company until the earlier of completion of its initial business combination and liquidation upon failure to consummate a business combination within the required time period.

Underwriters

The completed effective-prospectus read stated no underwriters.

Extracted from S-1 0001213900-26-117086, filed Nov 9, 2026 and verified against that filing text.

Key risk factors

• Substantial dilution

  “Because our Sponsor acquired the Class B ordinary shares at a nominal price, our public shareholders will incur an immediate and substantial dilution upon the closing of this offering.”

• Additional conversion dilution

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

• Management incentives

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

• Conflicts of interest

  “As a result, there may be actual or potential material conflicts of interest between our Sponsor and its affiliates on the one hand, and purchasers in this offering on the other hand.”

• Failure to complete combination

  “If we are unable to complete our initial business combination within the 12-month period, we will distribute the aggregate amount then on deposit in the trust account, including interest earned thereon (net of taxes payable), pro rata to our public shareholders, by way of the redemption of their shares and thereafter cease all operations except for the purposes of winding up of our affairs, as further described herein.”

• Redemption limitations

  “However, we would not be restricting our shareholders’ ability to vote all of their shares (including all shares held by those shareholders that hold more than 15% of the shares sold in this offering) for or against our initial business combination.”

• No blank-check investor protections

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