Centurion Acquisition Corp. [ALFUU]
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About
Centurion Acquisition Corp. operates as a special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company, which completed its initial public offering in 2021, raises capital through the sale of units consisting of common stock and warrants, with proceeds held in trust until a qualifying business combination is identified and completed. Centurion Acquisition Corp. focuses on identifying target businesses primarily in the technology, media, and telecommunications sectors, though it maintains flexibility to pursue opportunities across various industries. The SPAC structure provides the company with a specific timeframe, typically 18 to 24 months from its IPO, to complete a business combination, after which shareholders may vote to approve or reject the proposed merger. If Centurion Acquisition Corp. fails to complete a business combination within the prescribed period, the company liquidates and returns funds held in trust to public shareholders. The management team leverages industry expertise and networks to source and evaluate potential acquisition targets that demonstrate strong growth potential and competitive positioning. As with all SPACs, the company's ticker symbol includes a "U" designation indicating the security trades as a unit combining shares and warrants.