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 (Sep 3-6)

Key Weekly SPAC Activity

Deal Announcements/ Terminations/ Closings

See more: SPAC Deal Pipeline

• Mergers announced:

  • Denali Capital ($DECA) & Semnur Pharmaceuticals (Scilex subsidiary), a clinical-stage pharma company developing pain therapies. — PR / Pending IP

  • Keen Vision ($KVAC) & clinical-stage biopharma company focusing on cardiovascular diseases, Medera — PR / BCA / Pending IP

  • Evergreen ($EVGR) & AI-driven IT consulting firm, Forekast Limited — PR / Pending IP

  • Compass Digital ($CDAQ) & EEW Renewables, a global renewable energy project developer. — PR / IP / BCA

• No Terminations

• No Completions

Merger Votes

See more: Merger Votes Calendar

• Merger votes set:

  • $XFIN & Baird Medical: Sep 26

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

  • Acri Capital ($ACAC) & Foxx Development

  • Pono Capital Two ($PTWO) & SBC Medical Group

  • $PLMI & Veea

Extensions

See more: Extension Votes Calendar

• Approvals:

  • $PPHP: Aug 2025

• Votes set:

  • $TBMC, $ACAB, $RFAC, $MITA, $SKGR

IPOs and New S-1s

See more: IPO Calendar & Pre-IPO Dataset

• New IPOs:

  • Andretti II ($POLE-U)

  • Vine Hill Capital ($VCIC-U)

• No new registrations

Liquidations

See more: Liquidations Dataset

• Last week, no new liquidations were announced, while 2 implemented their share cancelations/ delisted per the liquidation plan (FEXD, TRTLF)

• 35 SPACs have liquidated thus far 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

• Hyzon ($HYZN) announced a 1-for-50 reverse split that will go into effect on Sep 11. — PR

The Deals

1) Evergreen ($EVGR) & AI-driven IT consulting firm, Forekast Limited — PR / Pending IP

• Target Description: Forekast specializes in augmented intelligence, offering AI-driven insights that enhance business operations, customer experiences, and workforce capabilities. With a focus on technology managed services, Forekast helps businesses navigate the complexities of modern markets while maintaining flexibility and operational efficiency.

• Valuation: $105M Pre-money enterprise value

2) Compass Digital ($CDAQ) & EEW Renewables, a global renewable energy project developer. — PR / IP / BCA

• Target Details:

  • HQ: London, UK

  • Description: EEW was established by entrepreneur Svante Kumlin. It stands as a prominent independent group dedicated to developing renewable energy projects on a global scale. Historically, EEW has concentrated on the development of large scale solar photovoltaic (PV) projects. However, the company has recently expanded its focus to include solar projects coupled with battery energy storage systems (BESS). Moreover, EEW has an approximate 40% ownership in EEW H2, which focuses on developing green Hydrogen in Australia and North Africa.

• Valuation: $386M Pro-forma enterprise value

• Additional Deal Notes: EEW, formerly Eco Energy World, was previously set to merge with Climate Rock (CLRC) in a $650M deal that was announced in 2022 and subsequently terminated in late 2023.

SPAC Updates

Liquidations / Terminations

• TortoiseEcofin Acquisition Corp. III (TRTLF) was delisted per its liquidation plan

Merger Votes / Completions

• Focus Impact ($FIAC) & DevvStream Holdings postponed the merger vote from Sep 10 to Sep 14. — SF

Deal Updates

• PowerUp ($PWUP) filed an amendment to the merger agreement. — SF 

• Bannix ($BNIX) & Visionwave entered into a restated BCA. — SF

Listings

Listing Warnings / Transfers:

• Spree 1 (SHAP —> $SACQF) was delisted by NYSE and is set to begin trading under the new ticker today.

• Newbury Street ($NBST) will be delisted by Nasdaq and begin trading OTC. — SF

Key Filings

Extensions:

• Trailblazer Merger I ($TBMC) — DEF

S-4 Filings*:

• ExcelFin ($XFIN) & Baird Medical — EFFECT

• Technology & Telecom. ($TETE) & Super Apps Holdings — F-4/A

• PowerUp ($PWUP) & Aspire Biopharma — S-4

• Atlantic Coastal II ($ACAB) & Abpro Corporation — S-4/A

• Learn CW ($LCW) & Innventure — S-4/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