Odysseus (Cayman) Ltd

Odysseus (Cayman) Ltd is a Cayman Islands exempted blank check company formed to complete a merger, share exchange, asset acquisition, or similar business combination. It does not operate a commercial business of its own and is structured as a special purpose acquisition company (SPAC) with cash held in trust for a future transaction.

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— Odysseus (Cayman) Ltd
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SPAC vehicle100% Blank-check company structure used to pursue an initial business combination.

The company does not sell products or services to end customers in the ordinary course...

  • Public investorsprimary

    Buy SPAC shares and warrants for exposure to a future acquisition transaction.

  • Target businessesprimary

    Potential merger or acquisition targets that may combine with the SPAC.

  • Capital providerssecondary

    Backstop, forward purchase, or debt/equity providers that may finance a deal.

Odysseus (Cayman) Ltd is organized in the Cayman Islands and its business activities are tied to U.S...

  • •Incorporated as a Cayman Islands exempted company
  • •Listed and financed through U.S. public markets
  • •Current activity is transaction search and structuring
  • •Future operating geography depends on acquisition target

The company’s core strategy is to identify and complete an initial business combination using IPO proceeds, trust...

01
Source and close a business combinationshort-term

The company has no operating business until it completes a transaction.

02
Preserve financing flexibilityshort-term

Additional capital may be needed for transaction costs and working capital.

The main risks are deal-execution risk, capital-raising risk, and the possibility that the company fails to complete a...

critical

Failure to complete an initial business combination

The company has no operating revenues until a transaction closes.

Scope
SPAC lifecycle and target sourcing
Materiality
high
high

Capital constraints and financing uncertainty

Transaction costs and working capital needs may exceed available cash.

Scope
Trust account, sponsor support, external financing
Materiality
high
high

Dilution from additional equity issuance

A business combination may require new shares or equity-linked securities.

Scope
Public shareholders and warrant holders
Materiality
high
medium

Regulatory and market risk

SPAC transactions depend on securities regulation, listing rules, and market appetite.

Scope
U.S. capital markets
Materiality
medium
Trust account and interest income
Can change reported earnings and funds available for a deal
Deferred compensation payable at closing
Creates contingent liabilities and affects future cash outflows
Transaction and public-company costs
Drives operating losses and period-to-period volatility

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: 16.6.2026