Weekly SPAC Review (Nov 11th - 15th)

Headlines of the Week

De-SPAC M&A

• Peak Bio (OTC: PKBO) and Akari Therapeutics (AKTX) closed their merger as equals in an all-stock transaction. The combined entity will continue to operate as Akari Therapeutics, Plc, and continue to be traded on Nasdaq as AKTX. — PR

Other De-SPAC News

• Kaixin ($KXIN) announced it is in the advanced stages of reviewing its strategic alternatives and is considering acquiring a controlling interest in a bitcoin mining company in the Middle East.

• 23andMe ($ME) announced a restructuring, including reducing its employee headcount by 40%, discontinuing its therapeutics programs, and evaluating strategic alternatives for its clinical and preclinical assets.

SPAC Coverage*

• Delistings:

  • Rigel Resource (RRAC --> OTC: $RRACF)

  • DP Cap I ($DPCS) will be delisted ahead of trading on Nov 19

  • Chain Bridge I ($CBRG) will be delisted ahead of trading on Nov 19

• byNordic Acquisition Corp ($BYNO): Sivers Semiconductors announced that it has ended talks about merging its subsidiary Sivers Photonics with BYNO.

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

Key Weekly SPAC Activity

Deal Announcements/ Terminations/ Closings

See more: SPAC Deal Pipeline

• 1 Termination:

  • Global Blockchain ($GBBK) & Fourcore Capital (f/k/a Cardea Corporate Holdings

• 1 Completion:

  • Atlantic Coastal II (ACAB) & Abpro ($ABP) , -63%

Merger Votes

See more: Merger Votes Calendar

• Merger votes set:

  • Mars ($MARX) & ScanTech: Dec 5

  • Thunder Bridge Capital Partners IV ($THCP) & Coincheck: Dec 5

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

  • Nova Vision ($NOVV) & Real Messenger

  • Insight ($INAQ) & Alpha Modus

  • TMT ($TMTC) & eLong Power

Extensions

See more: Extension Votes Calendar

• Approvals:

  • Metal Sky Star ($MSSA): Apr 2025

  • Spring Valley II ($SVII): Oct 2025

  • DP Cap I ($DPCS): Nov 2025

  • Southport (OTC: $PORT): Sep 2025

  • Mountain Crest V ($MCAG): Nov 2025

  • Bellevue Life Sciences ($BLAC): Feb 2025

  • Global Blockchain ($GBBK): Aug 2025

• Votes set:

  • BurTech ($BRKH), Jaws Mustang ($JWSMF)

IPOs and New S-1s

See more: IPO Calendar & Pre-IPO Dataset

• 1 new IPO:

  • Horizon Space II ($HPST-U)

• New registrations

  • FPA Energy (FPAQ)

  • Columbus (COLA)

Liquidations

See more: Liquidations Dataset

• Liquidation Delistings

  • Blockchain Coinvestors (BCSA)

  • Onyx I (ONYX)

• 49 SPACs have liquidated in 2024 with another 3 in the process of liquidating.

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

SPAC Updates

Liquidations / Terminations

• Global Blockchain ($GBBK) reported that its merger partner Fourcore Capital (f/k/a Cardea Corporate Holdings), terminated the business combination agreement. —SF

Deal Updates

• Thunder Bridge Capital Partners IV ($THCP) filed an investor presentation for its merger with Coincheck. —SF

Extensions

• Global Blockchain ($GBBK) was approved by shareholders to extend monthly up to Aug 2025. ~8% of the public SPAC shares were redeemed. Remaining in trust: ~$7.7M / 684,767 shares. —SF

• Future Tech II ($FTII) amended the extension proposal to remove the $50,000 cap and will now deposit $0.05 per public share per extension month regardless of redemption level. —SF

Listings

New Issues: IPOs, New S-1s

Filings

• Columbus Acquisition Corp (COLA) filed for IPO. — S-1

  • $57.50M, 1 R (1/10 sh)

  • Focus: N/A

  • UW: A.G.P.

Listing Warnings / Transfers:

• Perception Capital IV (RCFA --> $RCFAF) was delisted by NYSE due to failure to complete a merger within 36 months and will begin trading OTC as RCFAF.

Key Filings

Extensions:

• Investcorp Europe I ($IVCB) — PRE

• Slam (SLAMF) —PRE

S-4 Filings*:

• PowerUp ($PWUP) & Aspire Biopharma — S-4/A

Post-Merger S-1 Filings**:

• Baird Medical ($BDMD) — F-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