Research analysts covering Lake Superior Acquisition.
Recent press releases and 8-K filings for LKSP.
Lake Superior Acquisition Corp. Enters into Business Combination Agreement with Openmarkets Group
LKSP
M&A
New Projects/Investments
- Lake Superior Acquisition Corp. (LKSP) entered into a definitive Plan of Merger and Business Combination Agreement with Openmarkets Group Pty Ltd (OMG) and BMYG OMG Pty Ltd on January 23, 2026.
- The transaction involves Lake Superior merging with a newly formed Merger Sub, becoming a wholly-owned subsidiary of a Purchaser, and subsequently liquidating, with its assets and liabilities transferring to the Purchaser.
- The Seller will contribute OMG's equity securities to the Purchaser in exchange for approximately 30,000,000 Purchaser Shares, which have a deemed value of $10.00 per share.
- Up to an additional 70,000,000 Purchaser Shares may be paid to the Seller as Milestone Shares based on certain post-closing achievements.
- Openmarkets Group is an Australian B2B financial services, technology, and trading infrastructure provider offering brokerage services and wealth management technology solutions.
Jan 30, 2026, 1:13 AM
LKSP Announces Business Combination with Openmarkets Group
LKSP
M&A
New Projects/Investments
- Lake Superior Acquisition Corp. (LKSP) and Openmarkets Group Pty Ltd entered into a definitive business combination agreement on January 23, 2026.
- The transaction values Openmarkets at an estimated USD$300 million enterprise value, not including earn-out shares.
- Upon completion, expected in 2026, the combined Openmarkets Group will become a Nasdaq-listed company.
- Openmarkets plans to expand into decentralised finance (DeFi) through cryptocurrency trading and Real-World Assets (RWAs) tokenisation, and offer its technology and services internationally.
Jan 23, 2026, 2:02 PM
Lake Superior Acquisition Corp. Completes IPO and Private Placement, Establishes Trust Account
LKSP
New Projects/Investments
M&A
- 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.
- 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.
- The company has until April 8, 2027, to complete a business combination.
- 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.
Oct 15, 2025, 8:05 PM
Lake Superior Acquisition Corp. Announces Initial Public Offering Details
LKSP
M&A
New Projects/Investments
- 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.
- 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.
- 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.
- 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.
- 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.
Oct 10, 2025, 10:04 AM
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