Recent Updates — XTERW

Shareholders approved a proposal to change the company's name from Karman Line Acquisition Corp. to Xterax Corporation II and adopted second amended and restated memorandum and articles of association. The vote passed with 23,393,969 votes in favor against 4 votes against. Trading symbols for units, shares, and warrants remain unchanged on Nasdaq. The company operates as a blank check company focused on business combinations.

Karman Line Acquisition Corp. completed its initial public offering on August 19, 2026, selling 20,000,000 units at $10.00 per unit for gross proceeds of $200,000,000. Simultaneously, the company sold 650,000 private placement units to its sponsor and underwriter for $6,500,000. Net proceeds totaling $200,000,000 were placed in a trust account held by Continental Stock Transfer & Trust Company. The underwriters forfeited their 3,000,000-unit over-allotment option on August 18, 2026, resulting in the forfeiture of 1,000,000 founder shares. Transaction costs amounted to $12,574,886, including a $4,000,000 cash underwriting fee and an $8,000,000 deferred underwriting commission payable upon completion of a business combination. The company has 21 months from the IPO closing to consummate an initial business combination or redeem public shares. Karman Line Acquisition Corp. operates as a blank check company in the financial services industry, formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses.

Karman Line Acquisition Corp. consummated its initial public offering on August 19, 2026, selling 20,000,000 units at $10.00 per unit for gross proceeds of $200 million. Each unit comprises one Class A ordinary share and one-half of a redeemable warrant exercisable at $11.50 per share. Simultaneously, the company completed private placements totaling 650,000 units to its sponsor and underwriters for $6.5 million in gross proceeds. Net proceeds from both offerings were placed into a trust account held by Continental Stock Transfer & Trust Company. The company appointed Michael Leitner, Keith Masback, and Beth Michelson as new directors and established various agreements including indemnity and administrative services arrangements. Karman Line Acquisition Corp. operates as a special purpose acquisition company focused on the aerospace and defense sectors.