The offering consists of 10 million units priced at $10 each. Under the terms of the filing, underwriters have been granted a 45-day option to purchase an additional 1.5 million units to cover potential over-allotments. Should this option be exercised in full, total proceeds from the debut are expected to reach $115 million.

Strategic Investment Focus

While the company has not yet selected or engaged in substantive discussions with a specific target, management indicated it will prioritize businesses at the forefront of industrial and digital transformation. According to the filing, the firm is seeking opportunities in the following areas:

• Advanced and industrial robotics
• Electric vehicles (EVs)
• Drones and unmanned aerial vehicles (UAVs)
• Fintech solutions

BHAV Acquisition plans to list its units on the Nasdaq under the ticker symbol BHAVU. Once the securities comprising the units begin separate trading, the company expects its Class A shares to trade under the symbol BHAV. As a special purpose acquisition company, or SPAC, BHAV’s primary mission is to provide a private entity with a streamlined path to the public markets through a future business combination.