Good morning!

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 (Aug 12-16)

Headlines of the Week

De-SPAC M&A

• Lockheed Martin announced it will acquire Terran Orbital ($LLAP) for $0.25 per share in cash, or a total enterprise value of appx. $450M.

• PropertyGuru ($PGRU) agreed to be acquired by EQT for $6.70 per share in cash, or a total equity value of $1.1B.

Other De-SPAC News

• KORE Group ($KORE) announced it will implement a restructuring plan that includes laying off 25% of its workforce.

• Collective Audience ($CAUD) was delisted from Nasdaq and began trading OTC Pink under the same symbol.

• Cellebrite ($CLBT) set Sep 16 as the deadline to exercise its outstanding warrants. Any warrants not exercised by then will be redeemed for $0.10 per warrant.

• Zura Bio ($ZURA) completed its warrant exchange offer and set Aug 27 as the post-offer warrant exchange deadline.

_{*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:

  • $HAIA & Leading Group Limited

  • $IRRX & Tar Sands Holdings II

• Terminations:

  • $ADRT & Gresham Worldwide

  • $FEXD & Mobitech International

  • CVII & CorpAcq (CVII liquidated)

• Completions:

  • Armada I (AACI) & Rezolve ($RZLV), +1.9% from IPO

  • Moringa (MACA) & Silexion ($SLXN), -81%

  • Golden Arrow ($GAMC) & Bolt Threads ($BSLK), -56%

  • TenX Keane (TENK) & Citius Oncology ($CTOR), -80%

  • Genesis Growth Tech (GGAAF) & MindMaze IP —> NeuroMind AI Corp ($GGAAF), +17%

Merger Votes

See more: Merger Votes Calendar

• Merger vote set:

  • $PTWO & SBC Medical: Aug 23.

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

  • $IFIN & Seamless Group (CURRENC Group)

  • $PLMI & Veea

Extensions

See more: Extension Votes Calendar

• Approvals:

  • $EMCG: Aug 2025

  • $IVCA: May 2025

  • $RRAC: May 2025

  • $CPTK: May 2025

  • $NOVV: Feb 2025

• Votes set:

  • $GATE, $BAYA, $PPHP

IPOs and New S-1s

See more: IPO Calendar & Pre-IPO Dataset

• Priced IPOs:

  • HCM II ($HOND-U)

  • SilverBox Corp IV ($SBXD-U)

  • Cantor Equity Partners ($CEP)

• New registrations:

  • FACT II (FACT)

Liquidations

See more: Liquidations Dataset

• Last week, 2 new liquidations were announced ($FEXD, CVII), and 2 liquidations/share cancelations were implemented (TGVC, CVII)

• 32 SPACs have liquidated YTD 2024, and 2 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

• PropertyGuru ($PGRU) agreed to be acquired by EQT for $6.70 per share in cash, or a total equity value of $1.1B. — PR

• Jefferies sued Rubicon ($RBT) for failure to pay its $7M underwriting fee. The firm claimed it only received $40,000 worth of stock. — Bloomberg

• Gingko Bioworks ($DNA) will implement a 1-for-40 reverse split on Aug 20.

SPAC Updates

Liquidations / Terminations

• Churchill VII (CVII) announced on Sunday that it and CorpAcq mutually terminated the merger due to unfavorable IPO market conditions. CVII will liquidate with the shares canceled as of this past Friday, Aug 16. — PR

• Fintech Ecosystem ($FEXD) reported it will liquidate effective Aug 29. Appx. redemption price: $10.69. FEXD announced its BC with Mobitech International in Sep of 2022. — SF

• TG Venture (TGVC), which was delisted by Nasdaq in April and hasn’t traded on any exchange since, liquidated with a redemption price of ~$11.159.

Merger Votes / Completions

• Clover Leaf Capital ($CLOE) & Kustom Entertainment postponed the merger vote meeting from Aug 20 to Aug 23. — PR

Deal Updates

• Healthcare AI ($HAIA) & Leading Group filed the BCA for the deal. — SF

• Integrated Rail ($IRRX) filed the BCA for its merger with Tar Sands Holdings II. — SF

Extensions

• Yotta ($YOTA) adjourned the extension vote to Aug 20. — SF

• SilverBox III ($SBXC) filed a supplement to its proxy for its upcoming extension vote. — SF

Listings

New Issues: IPOs, New S-1sFilings

• FACT II Acquisition Corp. (FACT) — S-1

  • $175M, 1/2 Warrant

  • Focus: N/A

  • UW: Cohen & Company

Listing Warnings / Transfers:

• Arogo Capital ($AOGO): non-compliance warning. — PR 

Key Filings

Extensions:

• Bannix ($BNIX) — DEF

• Iris ($IRAA) — PRE

Key Event Calendar:

See the full calendar: SPAC Calendar