ARC Group Securities Acquisition I — Form 8-K

ARC Group Securities Acquisition I, a blank-check SPAC incorporated in the Cayman Islands on October 9, 2025, closed its IPO on August 5, 2026, issuing 10.5M units at $10/unit for $105M gross proceeds. Simultaneously, sponsor FDB I purchased 140k private units for $1.4M. The auditor's report contains an explicit going-concern warning: the company must complete a business combination by August 5, 2027 (extendable to November 5, 2027 with a definitive agreement) or face mandatory liquidation. As of the filing date, the company had only $24,963 in operating cash, a working capital deficit of $726,093, and has raised no revenue. The company holds $106.4M in the trust account (restricted to treasury obligations), with $1.575M in deferred underwriting fees payable only upon business combination completion.