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 23rd - 27th)

Headlines of the Week

De-SPAC M&A

• TPG Rise Climate is negotiating to acquire Altus Power ($AMPS), a solar power provider, with a potential deal expected in the coming weeks.

_{*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

• Merger votes set:

  • Golden Star ($GODN) & Gamehaus: Jan 20, 2025

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

  • Mars ($MARX) & ScanTech Identification Beam Systems

  • Coliseum (Delisted: MITA) & Rain Enhancement Technologies (approved this week)

  • Chenghe I ($LATG) & Femco Steel Technology (approved this week)

Extensions

See more: Extension Votes Calendar

• Approvals:

  • Investcorp Europe I (OTC: $IVCBF): Dec 2025

  • Coliseum (Delisted: MITA): Feb 2025

  • Horizon Space I ($HSPO): Dec 2025

  • Corner Growth 2 (Delisted: TRON): Dec 2025

• Votes set:

  • Israel Acq. Corp ($ISRL), Quetta ($QETA)

IPOs and New S-1s

See more: IPO Calendar & Pre-IPO Dataset

• No new IPOs

• New registrations

  • Aimei Health Technology II (AHJK)

  • Copley Acquisition Corp (Symbol TBA)

Liquidations

See more: Liquidations Dataset

• Delistings

  • CF Acquisition Corp. VII (CFFS)

• 55 SPACs have liquidated in 2024, and 3 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

• Vincerx Pharma ($VINC) announced it has entered into a binding term sheet with Oqory, a clinical-stage biopharma company, for a proposed reverse merger transaction that will result in Oqory becoming a public company. Oqory holders would own 95% of the company, with VINC holders owning around 5%. —PR

• Coeptis Therapeutics ($COEP) will implement a 1-for-20 reverse stock split ahead of trading on Dec 31. —PR

SPAC Updates

Deal Updates

• Rigel Resource (OTC: $RRACF) and its merger partner Aurous amended the BCA to, among other things, extend the outside date to Jan 31, 2025, and cap Aurous' transaction expenses payment at $17 million for cash proceeds up to $53 million and $20 million for higher amounts. The Sponsor will cover the remaining unpaid transaction expenses exceeding these limits. Additionally, the milestones were updated. —SF 

Extensions

• Alpha Star (OTC: $ALSAF) was approved to extend up to June 15, 2025. Pending redemption details. —SF

• Iris (OTC: $IRAA) was approved to extend up to Jun 2025. ~27% of the public SPAC shares were redeemed. Remaining in trust: ~$2.0M / 174,477 shares. —SF

Other SPAC Updates

• Cantor Equity Partners ($CEP) reported that Howard Lutnick resigned as Chairman and CEO following his nomination as U.S. Secretary of Commerce, with his son Brandon Lutnick, age 26, appointed as the new Chairman and CEO. —SF 

• TLGY (OTC: $TLGYF) reports its CEO and several of its directors resigned and were replaced with new appointments. —SF

Listings

Listing Warnings / Transfers:

• EVe Mobility (EVE) was formally delisted by NYSE, after being suspended on Dec 16, due to failure to close SPAC merger within 36 months. Last trading price: $11.27. —SF 

• Global Star ($GLST) received a listing compliance warning from Nasdaq. —SF

Key Filings

Extensions:

• Constellation I (OTC: $CSTAF) filed a PRE 14A —SF

• Papaya Growth Opportunity I ($PPYA) filed a DEF 14A —SF

  • Vote Date: Jan 14

  • Proposal: From January 19, 2025 to December 19, 2025

  • Appx. Redemption Price: $11.29

• Broad Capital ($BRAC) filed a PRER14A —SF

S-4 Filings*:

• Bellevue Life Sciences ($BLAC) filed a S-4/A in connection with its proposed merger with OSR Holdings Co. —SF

Post-Merger S-1 Filings**:

• Helport ($HPAI): EFFECT

*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