Southern Cross Acquisition II (SCAT)
Market Price (11/5/2026): $9.92 | Market Cap: $108.2 MilSector: Financials | Industry: Multi-Sector Holdings
Southern Cross Acquisition II (SCAT)
Market Price (11/5/2026): $9.92Market Cap: $108.2 MilSector: FinancialsIndustry: Multi-Sector Holdings
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 3.8% | Trading close to highsDist 52W High is -0.2%, Dist 3Y High is -0.2% Weak multi-year price returns2Y Excs Rtn is -30%, 3Y Excs Rtn is -81% | Key risksSCAT key risks include [1] a limited pool of suitable acquisition candidates in China due to that country's regulatory restrictions on foreign ownership. |
| Low stock price volatilityVol 12M is 3.8% |
| Trading close to highsDist 52W High is -0.2%, Dist 3Y High is -0.2% |
| Weak multi-year price returns2Y Excs Rtn is -30%, 3Y Excs Rtn is -81% |
| Key risksSCAT key risks include [1] a limited pool of suitable acquisition candidates in China due to that country's regulatory restrictions on foreign ownership. |
Qualitative Assessment
AI Analysis | Feedback
Southern Cross Acquisition II (SCAT) stock has remained largely at the same level since it went public on 10/8/2026 because of the following key factors:
1. Trading close to trust value.
Southern Cross Acquisition II (SCAT) is a Special Purpose Acquisition Company (SPAC) and its ordinary shares have traded closely around its initial public offering (IPO) price of $10.00 per unit and its trust value of approximately $10.025 per public unit since separate trading commenced on October 8, 2026. The stock's adjusted closing price has ranged from $9.85 to $10.04 through October 30, 2026. This stability is typical for SPACs that hold investor funds in a trust while actively seeking an acquisition target.
2. Absence of a definitive business combination announcement.
As a blank check company, SCAT's primary objective is to identify and complete a merger, share exchange, asset acquisition, or similar business combination. A definitive business combination announcement would serve as a significant catalyst for stock movement. However, no such announcement has been made since its IPO in August 2026 or the separate trading of shares began in October 2026, leading to a lack of speculative interest that could drive price fluctuations.
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Southern Cross Acquisition II (SCAT) stock has remained largely at the same level since it went public on 10/8/2026 because of the following key factors:
1. Trading close to trust value.
Southern Cross Acquisition II (SCAT) is a Special Purpose Acquisition Company (SPAC) and its ordinary shares have traded closely around its initial public offering (IPO) price of $10.00 per unit and its trust value of approximately $10.025 per public unit since separate trading commenced on October 8, 2026. The stock's adjusted closing price has ranged from $9.85 to $10.04 through October 30, 2026. This stability is typical for SPACs that hold investor funds in a trust while actively seeking an acquisition target.
2. Absence of a definitive business combination announcement.
As a blank check company, SCAT's primary objective is to identify and complete a merger, share exchange, asset acquisition, or similar business combination. A definitive business combination announcement would serve as a significant catalyst for stock movement. However, no such announcement has been made since its IPO in August 2026 or the separate trading of shares began in October 2026, leading to a lack of speculative interest that could drive price fluctuations.
3. Limited operational activities and catalysts.
As a SPAC, Southern Cross Acquisition II does not have an established commercial product line or ongoing operating business. Consequently, there have been no company-specific operational developments, earnings reports, or other traditional corporate news that typically influence the stock price of an operating company during the brief period since its separate listing on October 8, 2026. This absence of new information contributes to the stock remaining at a relatively stable level.
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Stock Movement Drivers
Fundamental Drivers
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Market Drivers
7/31/2026 to 11/4/2026| Return | Correlation | |
|---|---|---|
| SCAT | ||
| Market (SPY) | 2.6% | -0.6% |
| Sector (XLF) | 4.0% | -4.9% |
Fundamental Drivers
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Market Drivers
4/30/2026 to 11/4/2026| Return | Correlation | |
|---|---|---|
| SCAT | ||
| Market (SPY) | 7.0% | -0.6% |
| Sector (XLF) | 14.0% | -4.9% |
Fundamental Drivers
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Market Drivers
10/31/2025 to 11/4/2026| Return | Correlation | |
|---|---|---|
| SCAT | ||
| Market (SPY) | 13.4% | -0.6% |
| Sector (XLF) | 14.4% | -4.9% |
Fundamental Drivers
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Market Drivers
10/31/2023 to 11/4/2026| Return | Correlation | |
|---|---|---|
| SCAT | ||
| Market (SPY) | 89.7% | -0.6% |
| Sector (XLF) | 91.0% | -4.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SCAT Return | - | - | - | - | - | 0% | 0% |
| Peers Return | -1% | -1% | |||||
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| SCAT Win Rate | - | - | - | - | - | 50% | |
| Peers Win Rate | 11% | ||||||
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| SCAT Max Drawdown | - | - | - | - | - | - | |
| Peers Max Drawdown | |||||||
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: IPHX, TLAC, OCLT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/4/2026 (YTD)
How Low Can It Go
SCAT has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.5% | -18.8% |
| % Gain to Breakeven | 18.4% | 23.1% |
| Time to Breakeven | 80 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -10.7% | -9.5% |
| % Gain to Breakeven | 12.0% | 10.5% |
| Time to Breakeven | 26 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -16.1% | -6.7% |
| % Gain to Breakeven | 19.1% | 7.1% |
| Time to Breakeven | 270 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -19.7% | -19.2% |
| % Gain to Breakeven | 24.5% | 23.8% |
| Time to Breakeven | 123 days | 105 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
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Asset Allocation
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SCAT has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.4% | -12.2% |
| % Gain to Breakeven | 27.3% | 13.9% |
| Time to Breakeven | 272 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -26.1% | -17.9% |
| % Gain to Breakeven | 35.3% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -78.3% | -53.4% |
| % Gain to Breakeven | 359.8% | 114.4% |
| Time to Breakeven | 2329 days | 1085 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Southern Cross Acquisition II (SCAT)
Southern Cross Acquisition II (SCAT) is a Special Purpose Acquisition Company (SPAC), also known as a blank check company. Incorporated in the Cayman Islands, its core business involves raising capital from public investors with the sole purpose of identifying and ultimately acquiring or merging with one or more existing private operating businesses. This process allows the acquired private entity to become publicly traded without undertaking a traditional initial public offering (IPO).
The company's search for a suitable target business is broad, not limited to a specific industry or geographic location. However, given its significant ties, SCAT intends to explore acquisition opportunities in China, including Hong Kong and Macau. It is worth noting that the pool of potential targets in China's restricted industries, such as value-added telecommunications services, may be limited due to foreign ownership regulations. Currently, SCAT does not have any specific business combination under consideration, nor has it initiated discussions with any prospective targets.
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Major Services of Southern Cross Acquisition II (SCAT):
- Business Combination Services: The company's primary activity is to identify and effect a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more target businesses.
AI Analysis | Feedback
Southern Cross Acquisition II (SCAT) is a blank check company (a Special Purpose Acquisition Company, or SPAC). Its purpose is to effect a business combination with one or more businesses or entities. As of its current status, it has not yet completed an acquisition and therefore does not have any operational business or major customers in the traditional sense of selling products or services to individuals or other companies.
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Ally Tong Zhang
Chief Executive Officer and Chairwoman
Ally Tong Zhang has served as Chief Executive Officer and Chairwoman of Southern Cross Acquisition II Corp. since April 29, 2026. She also holds the positions of Chief Executive Officer, Chairwoman of the Board, and Director at Southern Cross Acquisition I (NCOOU), another special purpose acquisition company (SPAC) that priced in July 2026. Her prior experience includes serving as the General Manager of Shanghai Stockstar Corporation Limited from April 2010 to November 2012, where she was responsible for overall operations and management. From December 2008 to March 2010, Ms. Zhang was the Director of Investor Relations at China Finance Online. Additionally, she has been a director on the board of Rex Investment Consultants Limited since April 2013 and Sky Media Limited since February 2017.
Xin Wang
Chief Financial Officer
Xin Wang is the Chief Financial Officer of Southern Cross Acquisition II Corp. He is located in China. In connection with the company's initial public offering, Mr. Wang received 10,000 founder shares. No further professional background information, such as prior company management, sales of companies, or involvement with private equity-backed firms, is available in the provided search results.
Wenhua Qian
Independent Director
Wenhua Qian serves as an Independent Director for Southern Cross Acquisition II Corp. He is located in Singapore and received 10,000 founder shares in connection with the company's initial public offering.
Zhiqiang Du
Independent Director
Zhiqiang Du is an Independent Director of Southern Cross Acquisition II Corp. He is located in Singapore and holds 10,000 Ordinary Shares, which were transferred to him by Southern Cross Acquisition II Sponsor Corp. around August 25, 2026.
Hongmei Zhao
Independent Director
Hongmei Zhao serves as an Independent Director for Southern Cross Acquisition II Corp. She is located in Hong Kong and received 10,000 founder shares in connection with the company's initial public offering.
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Key Risks for Southern Cross Acquisition II (SCAT)
Inability to complete a business combination.
Regulatory restrictions in China, particularly concerning foreign ownership in certain industries, may limit the pool of suitable acquisition candidates if the company pursues opportunities in that region.
AI Analysis | Feedback
A clear emerging threat for Southern Cross Acquisition II is the potential for further tightening of PRC laws and regulations against foreign ownership and investment, or escalating geopolitical tensions between China and other nations (especially the US). Given the company's stated intent to pursue opportunities in China and existing acknowledgments of limited acquisition candidates due to current PRC laws, any intensification of these restrictions or geopolitical challenges could severely restrict its ability to identify and acquire suitable target businesses in a key strategic region.
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Share Issuance
- Southern Cross Acquisition II Corp. closed its initial public offering (IPO) of 7,652,630 units at $10.00 per unit on August 27, 2026, generating gross proceeds of $76,526,300.
- The IPO proceeds included the partial exercise of the underwriters' option to purchase an additional 152,630 units to cover over-allotments.
- Concurrently with the IPO, the company completed a private placement of 224,932 units at $10.00 per unit, which generated gross proceeds of $2,249,320.
Inbound Investments
- The company received $76,526,300 in gross proceeds from its initial public offering, which closed on August 27, 2026.
- An additional $2,249,320 in gross proceeds was generated from a concurrent private placement of 224,932 units at $10.00 per unit.
- Approximately $76,717,616, or $10.025 per public unit, from the combined net proceeds of the IPO and private placement was placed in a trust account.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 9.87 |
| Mkt Cap | 0.1 |
| Rev LTM | - |
| Op Inc LTM | - |
| FCF LTM | - |
| FCF 3Y Avg | - |
| CFO LTM | - |
| CFO 3Y Avg | - |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | - |
| Rev Chg 3Y Avg | - |
| Rev Chg Q | - |
| QoQ Delta Rev Chg LTM | - |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | - |
| CFO/Rev 3Y Avg | - |
| FCF/Rev LTM | - |
| FCF/Rev 3Y Avg | - |
Price Behavior
| Market Price | $9.90 | |
| First Trading Date | 08/26/2026 | |
| Distance from 52W High | -0.2% | |
| 50 Days | 200 Days | |
| DMA Price | ||
| DMA Trend | ||
| Distance from DMA | ||
| 3M | 1YR | |
| Volatility | 3.8% | 3.8% |
| Downside Capture | ||
| Upside Capture | ||
| Correlation (S&P 500) |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.21 | -0.10 | 0.13 | 0.14 | 0.02 | -0.01 |
| Up Beta | 0.98 | 0.08 | 0.20 | 0.12 | -0.04 | 0.24 |
| Down Beta | -0.14 | -0.09 | -0.02 | 0.25 | -0.24 | -0.01 |
| Up Capture | 7% | 3% | 2% | 1% | 0% | 0% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 7 | 7 | 7 | 7 | 7 | 7 |
| Down Capture | 2% | 1% | 1% | 0% | 0% | 0% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 3 | 3 | 3 | 3 | 3 | 3 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SCAT | |
|---|---|---|---|---|
| SCAT | 0.8% | 3.0% | 3.27 | - |
| Sector ETF (XLF) | 15.0% | 15.0% | 0.71 | -20.0% |
| Equity (SPY) | 13.2% | 12.9% | 0.68 | 25.9% |
| Gold (GLD) | 1.0% | 28.8% | 0.03 | 9.1% |
| Commodities (DBC) | 35.9% | 21.2% | 1.34 | -6.1% |
| Real Estate (VNQ) | 14.3% | 14.1% | 0.70 | -32.9% |
| Bitcoin (BTCUSD) | -28.2% | 43.4% | -0.65 | 39.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SCAT | |
|---|---|---|---|---|
| SCAT | 0.2% | 3.0% | 3.27 | - |
| Sector ETF (XLF) | 10.0% | 18.3% | 0.40 | -20.0% |
| Equity (SPY) | 12.5% | 17.2% | 0.55 | 25.9% |
| Gold (GLD) | 17.3% | 19.1% | 0.73 | 9.1% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | -6.1% |
| Real Estate (VNQ) | 1.8% | 18.9% | -0.01 | -32.9% |
| Bitcoin (BTCUSD) | 5.5% | 51.5% | 0.29 | 39.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SCAT | |
|---|---|---|---|---|
| SCAT | 0.1% | 3.0% | 3.27 | - |
| Sector ETF (XLF) | 13.7% | 22.1% | 0.56 | -20.0% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 25.9% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | 9.1% |
| Commodities (DBC) | 7.4% | 18.1% | 0.33 | -6.1% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.23 | -32.9% |
| Bitcoin (BTCUSD) | 61.0% | 66.2% | 1.01 | 39.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Multi-Sector Holdings Resources |
| McKinsey & Company Insights |
| Harvard Business Review |
| ValueWalk |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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