Good morning!

If you are receiving this newsletter for the first time, welcome! You will find the Weekly SPAC Review in the first section below followed by an update on Friday’s SPAC activity.

While Friday's update is included in this Weekly newsletter, the other daily updates (covering Mon-Thurs) are sent in our SPAC Morning Update newsletter to ListingTrack Pro users on the morning of each trading day.

Weekly SPAC Review (Jan 27th - 31st)

Headlines of the Week

De-SPAC M&A

• 23andMe ($ME) is exploring strategic alternatives, including a potential sale.

SPAC Coverage*

• A SPAC III (ASPC) reported an indication of interest agreement with Bioserica, a bio-based antimicrobial materials company.

_{*Covering the notable activity not included in the section below}

Key Weekly SPAC Activity

Deal Announcements/ Terminations/ Closings

See more: SPAC Deal Pipeline

• Mergers announced:

  • Embrace Change ($EMCG) & Tianjin Tire Global

  • Israel Acquisitions Corp ($ISRL) & Gadfin

  • Rising Dragon ($RDAC) & HZJL Cayman Limited

  • Black Spade II ($BSII) & World Media and Entertainment Universal

• No Terminations

• No Completions

Merger Votes

See more: Merger Votes Calendar

• Merger votes set:

  • Battery Future ($BFACF) & Classover: Feb 21. — SF

  • Finnovate ($FNVTF) & Scage: Feb 27 — SF

  • Bellevue Life Sciences ($BLAC) & OSR Holdings: Feb 13. — SF

  • Broad Capital ($BRAC) & Openmarkets Group Pty: Feb 21. — SF

• Deals in limbo (merger approved & pending closing):

  • RF ($RFAC) & GCL Asia

  • Western Ventures (OTC: $WAVS) & Cycurion

  • Bowen ($BOWN) & Shenzhen Qianzhi BioTech (Emerald)

Extensions

See more: Extension Votes Calendar

• Approvals:

  • Constellation I (OTC: $CSTAF): Jan 2026

  • Maquia Capital (OTC: $MAQC): Feb 2026

• Votes set:

  • DT Cloud ($DYCQ)

  • Maquia Capital (OTC: $MAQC)

  • Relativity (Delisted: RACY)

  • Concord II (OTC: $CNDA)

IPOs and New S-1s

See more: IPO Calendar & Pre-IPO Dataset

• New IPOs:

  • FG Merger II ($FGMC-U)

  • Stellar V Capital ($SVCC-U)

  • Drugs Made In America Acquisition Corp. ($DMAAU)

• New registrations

  • Gesher Acquisition Corp II (GHRS)

  • Cartesian Growth Corporation III

  • Fifth Era Acquisition Corp I (FERA)

Liquidations

See more: Liquidations Dataset

• Announcements/ Delistings

  • Fortune Rise (OTC: FRLA) liquidated at a price of $11.62 per share

• 4 SPACs have liquidated YTD in 2025 and 1 is in the process of liquidating.

Current Stats:

See more: SPAC Stats

SPAC Update

The section below is the format for the SPAC Morning Update newsletter sent to ListingTrack Pro subscribers on the morning of each trading day. You can sign up for ListingTrack Pro here.

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

• Hyzon Motors (HYZN) was delisted by Nasdaq following its decision to wind up and liquidate.

SPAC Updates

Merger Votes / Completions

• Bellevue Life Sciences ($BLAC) & OSR Holdings Co. set the merger vote for Feb 13. — SF

• Broad Capital ($BRAC) & Openmarkets Group Pty set the merger vote for Feb 21. — SF

Deal Updates

• FutureTech II ($FTII) and its merger partner, Longevity Biomedical, entered into a subscription agreement with an investor for 1 million common shares at $5 per share, totaling $5 million. —SF

Extensions

• Maquia Capital (OTC: $MAQC) was approved to extend up to Feb 2026. ~56% of the public SPAC shares were redeemed. Remaining in trust: ~$0.8M / 59,147 shares. —SF

Listings

New Issues: IPOs, New S-1s

Filings

• Fifth Era Acquisition Corp I (FERA) filed for IPO. — S-1

  • $200M, 1 R (1/10th sh)

  • Focus: Internet, enterprise technology, software, AI, fintech and blockchain.

    UW: Cantor

Listing Warnings / Transfers:

• WinVest ($WINV) received a non-compliance warning from Nasdaq, must regain compliance by Mar 17. — SF

Key Filings

S-4 Filings*:

• SK Growth Opportunities ($SKGR) & Webull — F-4/A

Post-Merger S-1 Filings**:

• Rain Enhancement Technologies ($RAIN) — S-1

*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