The Morning SPAC Update (Apr 10, 2025) 🔒

SPAC & De-SPAC Daily Trading (prev. session)

SPAC Gainers & Losers

SPAC Volume Leaders

De-SPAC Gainers & Losers

De-SPACs listed from 2019-

De-SPAC Volume Leaders

News & De-SPAC Updates

• Vincerx Pharma (VINC) terminated its non-binding LOI to merge with Global Digital Holdings (QumulusAI). The board has authorized management to initiate wind-down activities and pursue monetization and out-licensing opportunities for its assets. — PR

The Deals

1) International Media (OTC: IMAQ) entered into a definitive merger agreement with VCI Biofuels Group, the chemicals and ethanol producer of parent company VCI Holdings — PR / 8-K

• Target Details:

  • HQ: Vietnam

  • Description (from PR): VCI Biofuels Group is an innovative chemicals and ethanol producer with a focus on advanced efficient recovery methods. Its corporate headquarters are located in Vietnam. Established in 2014, VCI Biofuels Group has developed a track record in environmental management, recycling, and biofuel processing. Over the last decade, the company has consistently pursued its mission “For a Sustainable Common Roof”, striving to become a leading enterprise in the field of biofuels and contributing to the new economic development in Vietnam.

• Valuation: $1 billion enterprise value

SPAC Updates

Liquidations / Terminations

• Global Blockchain (GBBK) announced it will liquidate effective April 14. The shares will cease trading on April 13. —SF

Merger Votes / Completions

• Marblegate Capital Corp, following the closing of its SPAC merger with Marblegate Acquisition Corp. (GATE) on April 7, began trading OTC under the symbols MGTE and MGTEW for its common shares and warrants, respectively.

Extensions

• DT Cloud (DYCQ) filed an amendment to its proxy statement ahead of its upcoming extension vote. The revised proxy updates the redemption deadline from April 18 to April 16. – SF

Other SPAC Updates

• Aimfinity Investment Corp. I (AIMA) entered into an exchange agreement with sponsor I-Fa Chang to convert $1.5 million in promissory notes into 150,000 private placement units and PubCo ordinary shares at $10/share. —SF 

Listings

New Issues: IPOs, New S-1s

IPOs

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Filings

• Pelican Acquisition Corporation (PELI) filed for IPO. $75M, 1 right (1/10th of a share); Focus: Global Technology; UW: EarlyBirdCapital – S-1

  $75M, 1 R (1/10 sh)

  Focus: Global Technology

  UW: EarlyBirdCapital

Listing Warnings / Transfers:

• ClimateRock (CLRC --> CLRCF) was delisted by Nasdaq and is set to begin trading OTC under the new symbol CLRCF. The symbols for its units, warrants, and rights also changed to CLRUF, CLRWF, and CLRRF, respectively.

• Metal Sky Star Acquisition Corporation (MSSA --> MSSAF) changed symbol to MSSAF following its delisting from Nasdaq to OTC. The symbols for its units and warrants also changed to MSSUF and MSSWF, respectively.

Key Filings

Extensions:

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S-4 Filings*:

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Post-Merger S-1 Filings**:

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*The latest S-4 filings can be found in the Announced Mergers dataset.

**Includes PIPE resale registrations where applicable — the latest post-merger S-1 filings can be found in the De-SPAC Screener in the column group “De-SPAC Profile”.

Key Event Calendar:

See the full calendar: SPAC Calendar