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.

Transition Reminder:

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Starting on August 1, the Spactrack.io URL will re-route users to the revamped site at Listingtrack.io, and the new home for SPACs will be ListingTrack’s SPAC Hub.

Weekly SPAC Review (July 22-26)

Headlines of the Week

Other De-SPAC News

• Selina ($SLNAF) reported it is heading for insolvency with no funding to continue running the business. SLNA appointed joint administrators who will explore all options, including a sale of some or all of the subsidiaries and the company’s assets.

• Vintage Wine Estates ($VWE), a Canadian De-SPAC that transferred to Nasdaq post-closing, filed for Chapter 11 Bankruptcy. The company sold its property and equipment for $10.5M. VWE expects to be delisted by Aug 15.

SPAC Coverage*

• Enphys ($NFSCF) was delisted from NYSE and began trading OTC as NFSCF.

• Aura Fat Projects ($AFAR) and Hudson I ($HUDA) were T12 halted by Nasdaq (additional information requested) and are still halted as of this writing. Both SPACs have reported redemptions that put the public SPAC shares remaining under 100k shares.

• A SPAC II ($ASCB) entered into non-binding LOIs with two potential targets: one biofuel company and one copper mining company, ahead of its upcoming extension vote. — SF

• OCA ($OCAX) was delisted by Nasdaq and began trading OTC.

• TortoiseEcofin III ($TRTLF) was delisted by Nasdaq and began trading OTC as TRTLF.

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

Key Weekly SPAC Activity

Deal Announcements/ Terminations/ Closings

See more: SPAC Deal Pipeline

• 3 Mergers announced:

  • $CBRG & Phytanix Bio

  • $TBMC & Cyabra

  • $EMLD & Fold

• 1 Termination:

  • $PWUP & Visiox Pharmaceuticals

• No Completions

Merger Votes

See more: Merger Votes Calendar

• No Merger votes set

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

  • $ARYD & Adagio Medical (approved last week)

  • $PEGR & Heramba Electric

  • $GGAAF & MindMaze IP

  • $PLMI & Veea

  • $CETU & MKD Technology

Extensions

See more: Extension Votes Calendar

• Approvals:

  • $CLOE: Oct 2024

  • $XFIN: Dec 2024

  • $CDAQ: Apr 2025

  • $ASCB: Aug 2025

• Votes set:

  • $PUCK, $QOMO, $RRAC, $YOTA, $BLUA, $NRAC

IPOs and New S-1s

See more: IPO Calendar & Pre-IPO Dataset

• 1 new IPO:

  • DT Cloud Star ($DTSQ-U)

• 1 new registration

  • Launch Two (LPBB)

Liquidations

See more: Liquidations Dataset

• Last week, no new liquidations were announced or effected.

• 29 SPACs have liquidated thus far in 2024.

Current Stats:

See more: SPAC Stats

Friday’s 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- in descending order with the 3 Gainers followed by the 3 Losers

News & De-SPAC Updates

• Selina (SLNA —> $SLNAF), which appointed joint administrators as it faces insolvency, was delisted by Nasdaq and began trading OTC under the symbol SLNAF.

• BurgerFi parent agrees to settle shareholder lawsuit.

SPAC Updates

Merger Votes / Completions

• ARYA Sciences IV ($ARYD) & Adagio Medical: merger approved. 82% redeemed, leaving 592,461 public SPAC shares ($6.9M) prior to any potential reversals. — SF

• Kernel Group ($KRNL) & AIRO Group Holdings filed a supplement to the merger vote proxy. — SF

Extensions

• Global Technology I ($GTAC) extended 3 months from July 25 to Oct 25 by depositing $209k into the trust. — SF 

Other SPAC Updates

• Mountain & I ($MCAA) reported that its CFO and Chief Strategy Officer resigned for “personal reasons.” — SF

• Chenghe II ($CHEB) units are available to separate into common shares and warrants today. — SF

Listings

New Issues: IPOs, New S-1s

IPOs

• DT Cloud Star ($DTSQ-U) closed its $69M IPO, including the full $9M greenshoe exercise. — PR

Listing Warnings / Transfers:

• Hudson I ($HUDA) reports that it was halted by Nasdaq due to several non-compliance items relating to its low public float. Rather than providing a window to regain compliance, Nasdaq applied more stringent criteria and suspended trading immediately as it moved to delist. HUDA has appealed the delisting determination, with the hearing date set for Aug 22. HUDA also announced that it is working to remedy the issues including filing its late 10-K and 10-Q as well as applying for a transfer from Nasdaq Global to Capital. — SF

• Zalatoris II ($ZLS) regained compliance with Nasdaq. — SF

• Acri Capital ($ACAC): compliance warning. — SF

Key Filings

Extensions:

• BlueRiver ($BLUA) — DEF

• Northern Revival ($NRAC) — DEF

• Bannix ($BNIX) — PRE

• SilverBox III ($SBXC) — PRE

S-4 Filings*:

• Global Star ($GLST) & K Enter — F-4/A

• Inception Growth ($IGTA) & AgileAlgo — S-4/A

Post-Merger S-1 Filings**:

• VSee Health ($VSEE) — EFFECT

• Nature’s Miracle ($NMHI) — EFFECT

• DIH Holding US, Inc. ($DHAI) — S-1

• Alternus Clean Energy Inc. ($ALCE) — S-1/A

*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