Xsolla SPAC 1 XSLLU

Xsolla SPAC 1 is a newly incorporated blank check company formed as a Cayman Islands exempted entity. The company was created to effect a merger amalgamation share exchange asset acquisition share purchase reorganization or similar business combination with one or more businesses. It has not yet identified a specific target for its initial business combination. The sponsor of the company is a Delaware limited liability company whose sole member is Aleksandr Agapitov. The company completed its initial public offering on January 30 2026 raising gross proceeds of two hundred million dollars through the sale of twenty million units. Simultaneously a private placement of four hundred thousand units was sold to the sponsor generating additional proceeds of four million dollars. The funds from the offering and the private placement were deposited into a trust account to be used for future business combination activities.

At this stage the company does not generate operating revenue from products or services. The proceeds held in the trust account accrue interest over time which contributes to the financial resources available for a future business combination. The company intends to generate revenue after completing its initial business combination by acquiring an operating business and integrating its operations. Until that point the primary source of funds is the cash held in trust and any interest earned thereon. Interest earned on the trust is subject to market rates and is automatically reinvested to increase the funds available for the eventual business combination.

Xsolla SPAC 1 operates in the competitive landscape of special purpose acquisition companies that seek to pair with private businesses and take them public. Its competitive advantage stems from the expertise of its management team and the strategic relationship with its sponsor which is affiliated with Xsolla a global leader in video game commerce and payments infrastructure. The company has identified four target sectors video games financial technology advertising technology and telecommunications where it believes its network and experience give it an edge over other blank check vehicles. Within these sectors the company looks for businesses with recurring revenue scalable operations attractive margins and fragmented markets that are amenable to consolidation. By concentrating on these areas Xsolla SPAC 1 aims to source proprietary deal flow that may not be widely available to other sponsors and to add operational value after the business combination. These factors position the company to compete effectively despite the large number of blank check entities seeking similar transactions. The trust account currently holds over two hundred four million dollars which provides a substantial capital base for pursuing a target with an enterprise value exceeding five hundred million dollars.

The company does not serve traditional customers but instead works with shareholders who provide capital through the public offering and private placement. It also seeks to engage with prospective target companies in the video game fintech ad tech and telecom industries that may benefit from its operational expertise and access to capital. No specific customer names are disclosed in the filing because the company has not yet completed a business combination. Once a target is acquired the combined entity will serve the customers of that business across its chosen sectors.