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 (Dec 16-20)

Headlines of the Week

• Lion Electric (LEV --> $LEVGQ) filed for Chapter 11 bankruptcy. Lion was delisted by NYSE and began trading OTC under the symbols LEVGQ and LEGWQ for its common shares and warrants, respectively, following its bankruptcy filing.

• iLearningEngines ($AILE) filed for Chapter 11 bankruptcy.

_{*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:

  • Four Leaf ($FORL) & Xiaoyu Dida Interconnect International, a Chinese maker of automated car wash systems.

• Terminations:

  • Newbury Street ($NBST) & Infinite Reality

  • Fortune Rise (OTC: $FRLA) & Water On Demand

• No completions

Merger Votes

See more: Merger Votes Calendar

• Merger votes set:

  • Bowen ($BOWN) & Shenzhen Qianzhi BioTech: Jan 13, 2025

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

  • Mars ($MARX) & ScanTech Identification Beam Systems

Extensions

See more: Extension Votes Calendar

• Approvals:

  • AlphaVest ($ATMV): Sep 2025

  • Kairous (OTC: $KACLF): Jun 2025

  • Spree 1 (OTC: $SACQF): Dec 2025

  • FTAC Emerald (OTC: $FLDD): Dec 2025

  • Integrated Wellness (OTC: $WELNF): Dec 2025

  • WinVest ($WINV): Jun 2025

• Votes set:

  • $AOGO, $SUAC, $ALSA, $WAVS

IPOs and New S-1s

See more: IPO Calendar & Pre-IPO Dataset

• New IPOs:

  • Range Capital ($RANG-U) priced its $100M IPO

• No new registrations

Liquidations

See more: Liquidations Dataset

• Announcements/ Delistings

  • CF VII ($CFFS)

  • Fortune Rise ($FRLA)

• 54 SPACs have liquidated in 2024, and 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

• Northern Oil and Gas ($NOG) has made multiple acquisition offers for Granite Ridge Resources ($GRNT), with the latest bid reflecting a 20% premium, per Reuters. NOG responded to the Reuters article, stating that it is not currently engaged in formal negotiations to acquire GRNT. — PR

• iLearningEngines ($AILE) filed for Chapter 11 bankruptcy.

• Canoo ($GOEV) will implement a 1-for-20 reverse stock split ahead of trading on Dec 24. —PR

• AtlasClear ($ATCH) will implement a 1-for-60 reverse stock split ahead of trading on Jan 2. —PR

SPAC Updates

Liquidations / Terminations

• Newbury Street (NBST) mutually terminated its merger with Infinite Reality. A $7M termination fee will be paid to NBST no later than March 1. NBST intends to liquidate if it doesn't enter into a new merger agreement by March 25. —SF

• CF VII (CFFS) reports that it plans to liquidate at an appx. redemption price of $11.41. The redemption amount is expected to be paid out by Dec 31. —SF

Deal Updates

• Consilium I (CSLM) and its merger partner, Fusemachines, filed an investor presentation for the deal. —SF 

Extensions

• Coliseum (MITA) reported that it will accept redemption reversals up to Dec 20 at 5 pm EST for its extension vote scheduled for Dec 23. The estimated redemption price per public share is approximately $11.39. Additionally, certain third-party investors have indicated that they intend to purchase up to 200,00 public shares in the open market. —SF

• Horizon Space I (HSPO) revised its proposed contribution to the trust in connection with its upcoming extension vote to $120,000 per extension month. This replaces the previously proposed contribution of the lesser of $60,000 and $0.04 per public share. —SF

• Horizon Space I (HSPO) postponed its extension vote from Dec 20 to Dec 23. —PR

Listings

New Issues: IPOs, New S-1s

IPOs

• Translational Development's (TDAC-U) registration was approved for listing by Nasdaq. Pending IPO pricing report. —SF

Listing Warnings / Transfers:

• Alpha Star (ALSA --> $ALSAF) was delisted from Nasdaq and is set to begin trading OTC. Alpha's common shares, warrants, and units will trade under the new symbols ALSAF, ALSWF, and ALSUF, respectively. —OTC

• Kairous (KACL --> $KACLF) was delisted from Nasdaq and is set to begin trading OTC. Kairous' common shares, warrants, units, and rights will trade under the new symbols KACLF, KACWF, KACUF, and KACRF, respectively. —OTC

• WinVest ($WINV) was granted continued listing by Nasdaq until March 17, 2025 provided WINV closes its combination with Xtribe by that date. —SF

• Hennessy Capital Investment VI (HCVI) was granted continued listing by Nasdaq following its appeal of Nasdaq's delisting determination due to HCVI's failure to close a business combination within 36 months. HCVI has until March 31, 2025 to gain compliance with the listing rule subject to conditions stipulated in Nasdaq's continued listing approval letter. —SF

Key Filings

Extensions:

• ShoulderUP Technology ($SUAC) —DEF

• Plum III ($PLMJ) —PRE

• Broad Capital ($BRAC) — PRER

Post-Merger S-1 Filings**:

• Crown LNG (CGBS) —F-1/A

*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