- Lake Superior Acquisition Corp. consummated its Initial Public Offering (IPO) and a simultaneous private placement on **October 8, 2025**, generating **$115,000,000** from the IPO of **11,500,000 units** at **$10.00 per unit** and an additional **$3,600,000** from the private placement.  **[2043508_0001477932-25-007586_lake_ex991.htm:2]** **[2043508_0001477932-25-007586_lake_ex991.htm:14]** 
- As of **October 8, 2025**, **$115,000,000** of the proceeds were placed in a trust account, with **$649,760** in cash held outside the trust account for working capital.  **[2043508_0001477932-25-007586_lake_ex991.htm:1]** **[2043508_0001477932-25-007586_lake_ex991.htm:3]** **[2043508_0001477932-25-007586_lake_ex991.htm:7]** **[2043508_0001477932-25-007586_lake_ex991.htm:8]** 
- The company has until **April 8, 2027**, to complete a business combination.  **[2043508_0001477932-25-007586_lake_ex991.htm:5]** **[2043508_0001477932-25-007586_lake_ex991.htm:7]** 
- Management has expressed **substantial doubt** about the company's ability to continue as a going concern if a business combination is not consummated within the prescribed timeline.  **[2043508_0001477932-25-007586_lake_ex991.htm:7]**

Lake Superior Acquisition Corp. Completes IPO and Private Placement, Establishes Trust Account

- Lake Superior Acquisition Corp. has entered into an Investment Management Trust Agreement and a Share Rights Agreement, both effective **October 6, 2025**, in connection with its initial public offering.  **[2043508_0001477932-25-007478_lake_ex102.htm:0]** **[2043508_0001477932-25-007478_lake_ex41.htm:0]** 
- The company is offering **10,000,000 firm units** at an initial public offering price of **$10.00 per unit**, with underwriters purchasing them at **$9.40 per unit**.  **[2043508_0001477932-25-007478_lake_ex11.htm:1]** 
- Each unit comprises **one Class A ordinary share** and **one-seventh of one right**, with each whole right entitling the holder to one ordinary share upon consummation of a business combination.  **[2043508_0001477932-25-007478_lake_ex102.htm:0]** **[2043508_0001477932-25-007478_lake_ex41.htm:0]** **[2043508_0001477932-25-007478_lake_ex11.htm:1]** 
- **US$100,000,000** of the gross proceeds from the offering (or **US$115,000,000** if the over-allotment option is fully exercised) will be deposited into a segregated trust account.  **[2043508_0001477932-25-007478_lake_ex102.htm:0]** 
- **US$4,000,000** in deferred underwriting discounts and commissions (or **US$4,600,000** if the over-allotment option is fully exercised) will be payable upon the consummation of a business combination.  **[2043508_0001477932-25-007478_lake_ex102.htm:0]**

Lake Superior Acquisition (LKSP)