Good morning!

I hope you all had an enjoyable (short) week and a restful weekend.

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, other daily updates are covered in our SPAC Morning Update newsletter, which is sent to ListingTrack Pro users on the morning of each trading day.

Transition Reminder:

SPAC Track will soon be ListingTrack! Our users now enjoy an improved user experience and access to a significantly broader dataset covering initial public listings, including traditional IPOs, SPACs, spinoffs, direct listings, as well as pre-IPOs, at Listingtrack.io. This is all in addition to retaining all of the coverage provided by SPAC Track.

Starting on August 1, the Spactrack.io URL will re-route users to the revamped site at Listingtrack.io, and the new home for SPACs will be ListingTrack’s SPAC Hub.

Weekly SPAC Review (July 1st - 5th)

Headlines of the Week

De-SPAC M&A

• Desktop Metal ($DM) announced it has agreed to be acquired by Nano Dimension for a price between $4.07 and $5.50 per share, amounting to a total consideration between $135M and $183M. The final price will depend on the transaction expenses and whether DM draws on a $20M loan facility from Nano.

• Akili’s (AKLI) acquisition by Virtual Therapeutics closed for $0.434 in cash per share.

Other De-SPAC News

• Shapeways ($SHPW) ceased operations and filed for Chapter 7 bankruptcy. Shapeways' assets will be liquidated.

• Hagerty ($HGTY) completed its warrant exchange offer.

• TriSalus Life Sciences ($TLSI) announced it completed its exchange offer, which resulted in 2,110,366 shares being issued in exchange for the tendered warrants.

SPAC Coverage*

• The Canna-Global ($CNGL) fiasco has seemingly been resolved after Continental, the stock and transfer company, announced it would guarantee the full trust value for the 724k shares that were erroneously issued and allowed to be sold in the market. This is a huge win for investors affected and the SPAC market as a whole, as Continental's action reinforces the reliability of the SPAC trust as an inviolable safety floor.

• Denali Capital ($DECA) entered into an LOI with Semnur Pharmaceuticals, a subsidiary of Scilex ($SCLX), which went public via SPAC in November 2022.

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

Key Weekly SPAC Activity

Deal Announcements/ Terminations/ Closings

See more: SPAC Deal Pipeline

• 1 Merger announced:

  • $AITR & American Metals (American Resources Corp. subsidiary)

• 1 Termination:

  • $COOL & Noventiq

• 1 Completion:

  • BWAQ & Toyo Global ($TOYO), -83% from IPO

Merger Votes

See more: Merger Votes Calendar

• No Merger votes set

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

  • $PEGR & Heramba Electric

  • $GGAAF & MindMaze IP

  • $PLMI & Veea

  • $CHAA & Crown LNG

  • $GPAC & Stardust Power

Extensions

See more: Extension Votes Calendar

• Approvals:

  • $GODN: Feb 2025

  • $BUJA: June 2025

  • $THCP: Jan 2025

  • $WAVS: Oct 11

  • $WTMA: Jun 2025

  • $PFTA: Apr 2025

• Votes set:

  • $BHAC, $AVHI, $ASCB, $CLOE, $BYNO

IPOs and New S-1s

See more: IPO Calendar & Pre-IPO Dataset

• 1 new IPO:

  • Eureka ($EURK-U)

• No new registrations

Liquidations

See more: Liquidations Dataset

• No new liquidation announcements.

• 27 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

• Calidi Biotherapeutics ($CLDI) will implement a 1-for-10 reverse stock split that will be effective ahead of trading on July 15. — PR

SPAC Updates

Extensions

• Welsbach Technology Metals ($WTMA) was approved to extend up to Jun 2025. ~50% of the public SPAC shares were redeemed. Remaining in trust: ~$12.1M / 1,082,789 shares. — SF

• Perception III ($PFTA) was approved to extend up to Apr 2025. ~59% of the public SPAC shares were redeemed. Remaining in trust: ~$17.7M / 1,622,500 shares. — SF

Listings

Listing Warnings / Transfers:

• Canna-Global ($CNGL) reported that it won't appeal Nasdaq's delisting determination. It expects to trade OTC, but no guarantee that it will be traded. CNGL has a deadline of Dec 2. — SF

• Coliseum’s ($MITA) stock was suspended by Nasdaq on Friday due to failure to appeal the delisting determination. MITA submitted an appeal and expects trading to resume today, Monday, July 8. — SF

• Roth CH V ($ROCL) was granted continued listing until Nov 11. — SF

• Zalatoris II ($ZLS) was granted continued listing until July 31. — SF

Key Filings

Extensions:

• A SPAC II ($ASCB) — DEF

• Clover Leaf Capital ($CLOE) — DEF

• byNordic ($BYNO) — PRE

S-4 Filings*:

• Armada I ($AACI) & Rezolve — F-4/A

• Perception Capital IV ($RCFA) & Blue Gold — F-4/A

• Swiftmerge ($IVCP) & AleAnna — S-4

• Achari Ventures I ($AVHI) & Vaso Corporation — S-4/A

• Moringa ($MACA) & Silexion — S-4/A

Post-Merger S-1 Filings**:

• Nature’s Miracle ($NMHI) — S-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