Elevation Acquisition Group Inc. Filed SPAC Primary

What the company does

Elevation Acquisition Group Inc. is a newly incorporated blank check company incorporated as a Cayman Islands exempted company. It was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company has not selected any business combination target and has not initiated substantive discussions with any target, although it may pursue an initial business combination target in any business or industry (other than the cryptocurrency industry or targets located in Asia, which it does not currently intend to pursue).

Use of proceeds

Of the net proceeds of this offering and the sale of the private placement units, $100,000,000 (or $115,000,000 if the underwriters' over-allotment option is exercised in full) will be deposited into a trust account with Continental Stock Transfer & Trust Company acting as trustee and invested in U.S. government treasury bills with a maturity of 185 days or less or in qualifying money market funds. Funds in the trust account will not be released until the earliest of: (1) the completion of an initial business combination; (2) the redemption of public shares properly submitted in connection with a shareholder vote to amend the company's amended and restated memorandum and articles of association; and (3) the redemption of public shares if an initial business combination is not completed within 18 months from the closing of the offering. Net proceeds held in the trust account may be used as consideration to pay sellers of a target business, with any balance available for general corporate purposes following the initial business combination.

Underwriters

Extracted from S-1 0001753926-26-001740, filed Sep 10, 2026 and verified against that filing text.

Key risk factors

• Dilution from nominal founder share purchase price

  “Because our sponsor, our directors and officers and the at-risk capital investors acquired the founder shares at a nominal price, our public shareholders will incur an immediate and substantial dilution upon the closing of this offering.”

• Anti-dilution adjustment may materially dilute public shareholders

  “The Class A ordinary shares issuable in connection with the conversion of the founder shares 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-to-one basis upon conversion.”

• No investor protections afforded in Rule 419 offerings

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

• Creditors may have priority over public shareholders' trust account claims

  “The proceeds deposited in the trust account could become subject to the claims of our creditors, if any, which could have priority over the claims of our public shareholders.”

• Cayman Islands incorporation limits investor recourse

  “There is no statutory enforcement in the Cayman Islands of judgments obtained in the United States, although the courts of the Cayman Islands will in certain circumstances recognize and enforce a foreign money judgment of a foreign court of competent jurisdiction, without any re-examination or re-litigation on the merits based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met.”