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  • The Morning SPAC Update (Mar 21, 2025) 🔒

The Morning SPAC Update (Mar 21, 2025) 🔒

The pre-market SPAC recap for ListingTrack Pro users.

Author

ListingTrack
March 21, 2025

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

SPAC Gainers & Losers

Ticker

DA Target

Price

Daily % Chg.

BOWN

Shenzhen Qianzhi BioTech

$7.10

11.29%

CEP

$10.50

0.96%

QETA

$10.75

0.75%

GATE

DePalma Companies

$10.50

0.57%

DRDB

$10.01

0.30%

DMYY

$11.10

-0.27%

ALF

$10.23

-0.29%

NETD

e2Companies

$10.98

-0.36%

CLBR

GrabAGun

$10.62

-0.47%

FVN

Viwo Technology

$10.10

-0.59%

SPAC Volume Leaders

Ticker

DA Target

Volume

AACT

1.64M

CEPO

0.51M

COLA

0.32M

BOWN

Shenzhen Qianzhi BioTech

0.31M

AIFE

0.22M

DRDB

0.22M

De-SPAC Gainers & Losers

Ticker

IPO Return

Price

Daily % Chg.

AEVA

-92%

$4.19

34.73%

APLM

-99%

$10.39

30.53%

CYCU

-93%

$0.73

18.78%

STAI

-71%

$2.88

18.52%

HTCO

-80%

$1.97

17.96%

QBTS

-13%

$8.69

-18.02%

ZCAR

-99%

$0.24

-20.72%

FAAS

-97%

$0.34

-26.52%

KBSX

-71%

$2.90

-28.40%

BHIL

-99%

$0.38

-40.47%

De-SPACs listed from 2019-

De-SPAC Volume Leaders

Ticker

Volume

QBTS

175.34M

LCID

83.07M

RGTI

64.55M

OPEN

60.96M

SOFI

40.17M

IONQ

29.07M

News & De-SPAC Updates

  • Benson Hill (BHIL) filed for Chapter 11 bankruptcy. It has received $11 million in debtor-in-possession financing. —PR

SPAC Updates

Extensions

  • SK Growth Opportunities (SKGR) postponed its extension meeting from March 27 to March 28 to allow for more time to engage with shareholders. SKGR also provided details on the share redemption process for both the extension meeting and the March 30 WeBull merger vote meeting. —SF

Listings

New Issues: IPOs, New S-1s

IPOs

  • Gesher Acquisition Corp. II (GSHRU) priced its IPO. – PR

    $125M, 1/2 Warrant

    Focus: Israel

    UW: BTIG

Filings

  • Perimeter Acquisition Corp. I (PMTR) filed for IPO. – S-1

    $150M, 1/2 Warrant

    Focus: Defense and national security in the United States or an ally of the US

    UW: Citigroup

    Prominent Mgmt/Board: Jack Selby (Managing Director at Thiel Capital and PayPal Mafia member)

Listing Warnings / Transfers:

  • Bowen (BOWN) received a non-compliance warning from Nasdaq and has until Sept 15, to regain compliance. – SF

  • Winvest (WINV) was delisted by Nasdaq and is set to begin trading OTC.

Key Filings

Extensions:

  • Denali Capital (DECA) – PRE

S-4 Filings*:

  • —

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

DISCLAIMER: The information provided in this newsletter is for your convenience only and is not intended to be treated as financial, investment, tax, or other advice. ListingTrack, SPAC Track, and the parent, CommonFi, do not make any guarantees, representations, or warranties as to, and shall have no liability for, the timeliness, truthfulness, sequence, quality, completeness, or accuracy of any of the information or data provided in this newsletter or on the ListingTrack or SPAC Track websites.