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 (Mar 3-7)

Headlines of the Week*

De-SPAC News

• FREYR Battery (FREY) changed its name and symbol to T1 Energy (TE).

• NKGen Biotech (NKGN) was delisted by Nasdaq and began trading OTC.

SPAC Coverage

• Newbury Street (NBST) reported that its former merger partner, Infinite Reality, failed to pay the termination fee due on March 1 and has contacted the company.

_{*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:

  • Relativity Acquisition Corp. (RACY: Delisted) & biotech focusing on stem cell technology and regenerative medicine, Instinct Brothers Co. — PR

• No Terminations

• No Completions

Merger Votes

See more: Merger Votes Calendar

• Merger votes set:

  • Aimfinity Investment I (AIMAU) & Docter Inc.: March 27. — SF

  • Integral 1 (INTE) & Flybondi: Mar 28. – SF

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

  • Focus Impact BH3 (BHAC) & XCF Global — approved last week

  • ShoulderUp Technology (SUAC) & SEE ID

  • Bowen (BOWN) & Shenzhen Qianzhi BioTech (Emerald)

  • Global Star (GLST) & K Enter

  • Battery Future's (BFACF) & Classover

  • Rigel Resources (RRACF) & Aurous

Extensions

See more: Extension Votes Calendar

• Approvals:

  • Concord II (CNDA) was approved to extend up to Dec 2025

• Votes set:

  • DT Cloud (DYCQ): Mar 20 — DEF

  • NorthView ($NVAC): Mar 18 —DEF

IPOs and New S-1s

See more: IPO Calendar & Pre-IPO Dataset

• No New IPOs

• New registrations

  • Cal Redwood Acquisition Corp. ($CRA) filed for IPO. — S-1

    $200M, (1/10 sh)

    Focus: Technology, media and telecommunications ('TMT')

    UW: Cohen & Company

  • Siddhi Acquisition Corp (SDHI) filed for IPO. – S-1

    $200M, 1 R (1/10 sh)

    Focus: N/A

    UW: Santander

  • Dune Acquisition Corp II ($IPOD) filed for IPO. – S-1

    $150M, 3/4 Warrant

    Focus: Software as a service, artificial intelligence, medtech or asset management and consultancy

    UW: Clear Street

Liquidations

See more: Liquidations Dataset

• No new Liquidation Announcements/ Delistings

• 6 SPACs have liquidated YTD 2025 and 1 is in the process of liquidating.

Current Stats:

See more: SPAC Stats

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-

De-SPAC Volume Leaders

News & De-SPAC Updates

• Faraday Future Intelligent Electric (FFIE --> FFAI) changed its symbol from FFIE to FFAI, effective March 10. Faraday's public warrants will trade as FFAIW. — PR

• Pinstripes (OTC: PNST) announced it entered into a binding LOI with Oaktree for $7.5 million in financing. PNST was delisted by NYSE and is now trading OTC. — PR

• Digital Media Solutions' (OTC: DMSIQ) shares were canceled worthless as its bankruptcy plan became effective.

• Aquaron Acquisition Corp (AQU --> OTC: AQUC) was delisted from Nasdsaq and will begin trading OTC.

SPAC Updates

Merger Votes / Completions

• Integral 1 ($INTE) & Flybondi set the merger vote for Mar 28. – SF

• Inflection Point II ($IPXX) & USA Rare Earth filed a supplement to the definitive proxy statement. —SF

Deal Updates

• Globalink Investment ($GLLI) & Alps Global Holding Berhad amended the merger agreement to remove the earn-out provision and remove the $5M net tangible asset requirement. —SF 

Extensions

• Capitalworks Emerging Markets, now Piermont Valley Acquisition Corp., (CMCAF) was approved to extend up to March 2026. ~83% of the public SPAC shares were redeemed. Remaining in trust: ~$2.4M / 204,986 shares. CMCAF was also approved to change its name to Piermont Valley Acquisition Corp. —SF

Listings

New Issues: IPOs, New S-1s

Filings

• Siddhi Acquisition Corp (SDHI) filed for IPO. – S-1

  • $200M, 1 R (1/10 sh)

  • Focus: N/A

  • UW: Santander

• Dune Acquisition Corp II ($IPOD) filed for IPO. – S-1

  • $150M, 3/4 Warrant

  • Focus: Software as a service, artificial intelligence, medtech or asset management and consultancy

  • UW: Clear Street

Listing Warnings / Transfers:

• Valuence Merger I ($VMCA) will be delisted by Nasdaq on March 11, with VMCA expecting to trade OTC under the same symbols VMCA, VMCAW, and VMCAU. — SF

Key Filings

Extensions:

• NorthView ($NVAC) —DEF

Post-Merger S-1 Filings**:

• MKDWELL ($MKDW) – 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