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The Morning SPAC Update (Apr 8, 2025) 🔒

The Morning SPAC Update (Apr 8, 2025) 🔒

The pre-market SPAC recap for ListingTrack Pro users.

Listing Track
April 08, 2025

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

SPAC Gainers & Losers

Ticker	DA Target	Price	Daily % Chg.
CCIX		$10.95	3.08%
HCVI	Namib Minerals	$10.80	2.86%
BOWN	Shenzhen Qianzhi BioTech	$7.65	1.86%
BUJA	Global IBO Group	$11.19	1.63%
NOEM		$10.00	0.81%
IVCA		$12.00	-0.33%
DMYY		$11.10	-0.45%
RIBB		$9.98	-0.60%
SKGR	Webull	$11.11	-1.42%
EQV		$10.08	-1.66%

SPAC Volume Leaders

Ticker	DA Target	Volume
AACT		3.48M
NTWO		2.48M
NETD	e2Companies	1.15M
DRDB		1.14M
HOND	Terrestrial Energy	0.51M
MLAC		0.36M

De-SPAC Gainers & Losers

Ticker	IPO Return	Price	Daily % Chg.
MKDW	-95%	$0.52	205.88%
FRGE	-94%	$0.63	26.68%
FAAS	-97%	$0.32	24.72%
PET	-99%	$0.14	23.81%
CJET	-99%	$1.83	22.00%
LOT	-89%	$1.12	-19.42%
OSRH	-85%	$1.53	-21.54%
LOCL	-97%	$3.48	-26.74%
CNTM	-94%	$0.59	-28.47%
RBTC	-99%	$0.04	-29.40%

De-SPACs listed from 2019-

De-SPAC Volume Leaders

Ticker	Volume
MKDW	222.5M
LCID	173.48M
GRAB	95.46M
SOFI	92.11M
BBAI	53.63M
RGTI	49.26M

SPAC Updates

Merger Votes / Completions

Marblegate Acquisition Corp. (GATE) Marblegate (GATE) waived the Nasdaq listing condition for its pending business combination with Marblegate Asset Management and related parties. The merger is expected to close today, April 7. Upon closing, the company will delist from Nasdaq and trade on the OTCQX Market under the symbols “GATE” and “GATEW.” – SF
SK Growth Opportunities (SKGR) reported that it intends to enter into additional non-redemption agreements in connection with its merger with Webull. —SF

Deal Updates

Healthcare AI (OTC: HAIAF) & Leading Group filed an investor presentation for the deal. —SF
Finnovate (OTC: FNVTF) & Scage extended the outside date from March 31, 2025 to July 31, 2025. —SF

Extensions

Ares II (AACT) filed a supplement to its proxy for its upcoming extension vote, clarifying redemption procedures and advising shareholders to submit redemption requests and deliver shares by April 17, due to limited DTC services on April 18. – SF

Other SPAC Updates

Bukit Jalil Global 1 (BUJA) amended its underwriting agreement with A.G.P., reducing the deferred underwriting commission and lowering the firm unit commission. —SF

Listings

New Issues: IPOs, New S-1s

Filings

New Providence Acquisition Corp. III (NPAC) filed for IPO. – S-1
$260M, 1/3 Warrant
Focus: Consumer
UW: Cantor
Twelve Seas Investment Company III (TWLV) filed for IPO. – S-1
$150M, 1 R (1/10 sh)
Focus: International Oil & Gas
UW: Cohen & Company

Key Filings

Extensions:

TLGY (OTC: TLGYF) – DEF
Technology & Telecommunication (TETEF) – DEF

**S-4 Filings*:**

Bannix (OTC: BNIX) & Visionwave – S-4/A
Horizon Space I (HSPO) & Squirrel Enlivened International – F-4

Post-Merger S-1 Filings:**

*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

Thanks for reading,

The team at ListingTrack (listingtrack.io)

Abbreviations: BC: Business Combination, BCA: Business Combination Agreement, DA: Definitive Agreement, PR: Press Release, SF: Company SEC filing, IP: Investor Presentation

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