Good afternoon!

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.

Weekly SPAC Review (Oct 7-11)

Headlines of the Week

De-SPAC M&A

• PropertyGuru’s ($PGRU) shareholders approved its take-private acquisition by EQT (EQT Private Capital Asia). The transaction is expected to close Q4 2024 or Q1 2025. — PR

Other De-SPAC News

• Airspan Network’s (MIMOQ) existing shares were canceled worthless as its bankruptcy plan became effective.

• The SEC approved Nasdaq's new proposal that aims to prevent companies trading under $1 from delaying their delisting through reverse stock splits. Under the rule, if a company uses a reverse split to meet the $1 minimum bid requirement that results in a violation of another listing requirement, like the minimum publicly held shares rule, it will remain non-compliant until both issues are resolved. — Cooley PubCo

• Palantir now owns 8.7% of struggling electric vehicle startup Faraday Future ($FFIE). — TechCrunch

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

Key Weekly SPAC Activity

Deal Announcements/ Terminations/ Closings

See more: SPAC Deal Pipeline

• No Mergers announced

• No Terminations

• No Completions

Merger Votes

See more: Merger Votes Calendar

• No Merger votes set

• Deals in limbo — merger approved & pending closing:

  • Nova Vision [$NOVV] & Real Messenger

  • Focus Impact [$FIAC] & DevvStream

Extensions

See more: Extension Votes Calendar

• Approvals:

  • $WAVS: Jan 2025

  • $IXAQ: Oct 2025

• Votes set:

  • $IPXX, $KVAC, $RMGCF, $ALCY, $CBRG, $CLOE, $COOL, $SVII

IPOs and New S-1s

See more: IPO Calendar & Pre-IPO Dataset

• New IPOs:

  • Launch Two ($LPBB-U)

  • Cohen Circle I ($CCIR-U)

  • Rising Dragon ($RDAC-U)

• No new registrations

Liquidations

See more: Liquidations Dataset

• Delisted ahead of liquidation:

  • Ault Disruptive Technologies (ADRT): the last trading day was Friday, Oct 10.

• 41 SPACs have liquidated 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

• 23andMe ($ME) will implement a 1-for-20 reverse stock split on Oct 16. — PR

SPAC Updates

Liquidations / Terminations

• Ault Disruptive Technologies ($ADRT) & was delisted per its liquidation plan.

Merger Votes / Completions

• Clover Leaf Capital Corp. ($CLOE) & Kustom Entertainment: merger vote postponed from Oct 11 to Oct 18. — SF

Deal Updates

• Thunder Bridge Capital Partners IV, Inc. ($THCP) & Coincheck amended the BCA to remove the earn-out rights. — SF

Extensions

• IX Acquisition Corp. ($IXAQ) was approved to extend up to Oct 2025. ~43% of the public SPAC shares were redeemed. Remaining in trust: ~$18.6M / 1,610,373 shares. — SF 

• Chenghe Acquisition I Co. ($LATG) adjourned the Oct 14 extension vote to Oct 23. — SF

Other SPAC Updates

• Investcorp India Acquisition Corp. ($IVCA) announced the proposed terms for an expected definitive deal with Bigtincan Holdings (ASX: BTH): implied equity value of $275M, and the SPAC sponsor Investcorp will commit $12.5M of equity. Investcorp is to own appx. 20% of the combined company's equity at an appx. cost of $4.73 per share. — SF

Listings

Listing Warnings / Transfers:

• Focus Impact BH3 ($BHAC) will be delisted from Nasdaq on Oct 14 and plans to trade on the OTC while it continues to pursue its BC with XCF Global Capital. — SF

Key Filings

Extensions:

• Corner Growth Acquisition Corp. ($COOL) — DEF

• Spring Valley Acquisition Corp. II ($SVII) — DEF

• Onyx Acquisition Co. I ($ONYX) — PRE

S-4 Filings*:

• AlphaTime Acquisition Corp. ($ATMC) — F-4

• Thunder Bridge Capital Partners IV, Inc. ($THCP) — F-4/A

• BurTech Acquisition Corp. ($BRKH) — S-4

• ShoulderUP Technology Acquisition Corp. ($SUAC) — S-4

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

Key Event Calendar:

See the full calendar: SPAC Calendar