Weekly SPAC Review (Nov 18- 22)

Headlines of the Week

De-SPAC M&A

• Innovid (CTV) is to be acquired by Mediaocean in an all-cash deal at $3.15 per share (94% premium to the closing price prior to announcement), with an enterprise value of approximately. $500M.

Other De-SPAC News

• NuScale Power ($SMR) announced it will redeem all outstanding warrants

• CareMax ($CMAX) filed for Chapter 11 bankruptcy

SPAC Coverage*

• Delistings:

  • Mountain Crest V (OTC: $MCAG)

  • Chain Bridge I (OTC: $CBRRF)

_{*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:

  • Hudson I (HUDA) & Aiways Automobile Europe

• Terminations:

  • OCA (OTC: $OCAX) & Powermers Smart Industries (Contested)

• Completions:

  • eLong Power ($ELPW) & TMT Acquisition Corp (TMTC), -76% from SPAC IPO

  • Real Messenger ($RMSG) & Nova Vision (NOVV), -69%

Merger Votes

See more: Merger Votes Calendar

• Merger votes set:

  • Swiftmerge ($IVCP) & AleAnna: Dec 12

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

  • Insight ($INAQ) & Alpha Modus

Extensions

See more: Extension Votes Calendar

• Approvals:

  • Perception Capital IV (OTC: $RCFAF): Nov 2025

  • Global Lights ($GLAC): May 2025

  • Chain Bridge I (OTC: $CBRRF): Nov 2025

  • Integrated Rail and Resources (OTC: $IRRX): May 2025

  • Inflection Point II ($IPXX): Aug 2025

  • Distoken ($DIST): Nov 2025

• Votes set:

  • Athena Technology II ($ATEK), WinVest ($WINV), Integrated Wellness ($WEL), Globalink Investment ($GLLI), Horizon Space I ($HSPO), Investcorp Europe I ($IVCB), Roth CH V ($ROCL), Everest Consolidator ($MNTN), Global Star ($GLST), Inception Growth ($IGTA), Kairous ($KACL), Pearl Holdings ($PRLH)

IPOs and New S-1s

See more: IPO Calendar & Pre-IPO Dataset

• New IPOs:

  • CO2 Energy Transition Corp. ($NOEM-U)

  • Dynamix Corporation ($DYNX-U)

• No new registrations

Liquidations

See more: Liquidations Dataset

• Announcements/ Delistings

  • bleuacacia (BLEU)

  • New Providence II (NPAB)

  • HHG Capital (HHGC)

• 48 SPACs have liquidated in 2024, while 4 are 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

News & De-SPAC Updates

• Silexion Therapeutics (SLXN) will implement a 1-for-9 reverse stock split ahead of trading on Nov 29. —PR

• noco-noco (NCNC --> NCNCF) was delisted from Nasdaq and began trading OTC as NCNCF. —PR

The Deals

1) Hudson I (HUDA: Halted by Nasdaq since July) & Aiways Automobile Europe — PR

• Target Details:

  • HQ: Munich, Germany

  • Description: Aiways Europe is a company focused on the development, sale and servicing of BEVs from the leading suppliers of vehicles and components. Aiways Europe commenced selling Aiways U5 vehicles in Europe in 2020. Since then, Aiways Europe has sold approximately 6,000 vehicles. Aiways Europe has maintained a distribution network and serviced its BEV customers in Europe. Additionally, it has expanded to developing BEVs based on the full portfolio of intellectual properties licensed from its previous parent company and recently from the new partners in light vehicles, light commercial vehicles, passenger cars and vehicle software partners . It has also secured production capability in Europe.

• Valuation: $410M Pre-money equity value

• Pending Investor Presentation 

SPAC Updates

Merger Votes / Completions

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

  • THCP & Coincheck also filed a supplement to the proxy for their upcoming merger vote set for Dec 5. — SF

Deal Updates

• Focus Impact BH3 (BHAC) filed an investor presentation for its merger with XCF Global. —SF 

Extensions

• FutureTech II (FTII) was approved to extend up to Aug 2025. ~67% of the public SPAC shares were redeemed. Remaining in trust: ~$8.8M / 754,886 shares. —SF

• ShoulderUP Technology (SUAC) was approved to extend up to Dec 2024. ~41% of the public SPAC shares were redeemed. Remaining in trust: ~$5.7M / 509,909 shares. —SF

• Global Star (GLST) reported an error in the proxy card in which a 3-month extension was presented rather than the intended 6-month extension. —SF

Other SPAC Updates

• Howard Lutnick, who is CEO of Cantor and CEO of SPACs Cantor Equity Partners ($CEP) and CF VII ($CFFS), stated he would step down from his positions at Cantor and its affiliated SPACs upon Senate confirmation of his nomination as US Secretary of Commerce. —SF

• Global Lights (GLAC) announced it entered into a non-binding LOI with Malaysian fintech W Straits. —SF

Listings

New Issues: IPOs, New S-1s

IPOs

• CO2 Energy Transition (NOEM-U) closed its $69M IPO, including the full exercise of the $9M greenshoe. —PR

• Dynamix (DYNX-U) closed its $166M IPO, including a partial greenshoe exercise of $16M. —SF

Key Filings

Extensions:

• APx I ($APXI) — DEF

S-4 Filings*:

• Swiftmerge ($IVCP) & AleAnna — EFFECT

• AlphaTime ($ATMC) HCYC Group — F-4/A

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

• BurTech ($BRKH) & Blaize — S-4/A

*The latest S-4 filings can be found in the Announced Mergers dataset.

Key Event Calendar:

See the full calendar: SPAC Calendar