The Morning SPAC Update (Jul 9, 2024) 🔒

Good morning!

Transition reminder: SPAC Track will soon be ListingTrack (August 1). More details are at the end of this newsletter.

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

SPAC Updates

Liquidations / Terminations

• BlueRiver ($BLUA) reported that Spinal Stabilization Technologies terminated the BCA. — SF

Merger Votes / Completions

• Global Partner II (GPAC) & Stardust Power: merger closed. The combined company begins trading under the symbol SDST today. — PR

Deal Updates

• Slam Corp’s ($SLAM) merger partner, Lynk Global, filed Form D last month, noting it has sold $67M in equity/convertible financing out of a $96M total planned offering (first sale reported to be on June 11). The last S-4 for the SPAC deal was filed in February.

Extensions

• Target Global I ($TGAA) adjourned its meeting to vote on extending up to June 9, 2025 with no additional contributions to trust. — SF

Other SPAC Updates

• A Delaware judge ruled that Sagaliam (SAGA) failed to make monthly extension payments and thus should have liquidated in accordance with its charter.

Listings

New Issues: IPOs, New S-1s

Filings

• Dynamix Corporation (Symbol TBA) — S-1

  • $150M, 1/2 Warrant

  • Focus: Energy Transition and Power Value Chain

  • UW: Cohen & Company

IPOs

• Eureka ($EURK-U) reported that Maxim exercised the greenshoe in full, resulting in total proceeds of $57.5M. — SF

Listing Warnings / Transfers:

• Canna-Global ($CNGL) was listed on the OTC Pink exchange and could begin trading OTC today.

• BlueRiver’s ($BLUA) warrants were delisted by NYSE. BLUA's common shares and units will continue to trade during the appeal period. — SF

• Global Blockchain ($GBBK) transferred from Nasdaq Global to Nasdaq Capital to comply with listing rules. — SF

Key Filings

Extensions:

• Rigel Resource ($RRAC) — PRE

S-4 Filings*:

• Tristar I ($TRIS) & Helport — EFFECT

• Kernel Group ($KRNL) & AIRO Group Holdings — S-4/A

Post-close S-1 Filings**:

• NKGen Biotech ($NKGN) — EFFECT

*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

Transition reminder:

SPAC Track will soon be ListingTrack! Our users now enjoy an improved user experience and access to a significantly broader dataset covering initial public listings, including traditional IPOs, SPACs, spinoffs, direct listings, as well as pre-IPOs, at Listingtrack.io. This is all in addition to retaining all of the coverage provided by SPAC Track.

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.