Good morning

I hope you all had an excellent long weekend for the Easter holiday!

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 (Apr 14th - 18th)

Headlines of the Week*

De-SPAC M&A

• Gen Digital (GEN) announced the successful closing of its acquisition of MoneyLion (Delisted: ML) for $82.00 per share in cash, representing a transaction value of approximately $1 billion. Additionally, MoneyLion shareholders are entitled to receive one contingent value right (CVR) per share, offering a conditional payment of $23.00 in the form of Gen common stock if, on any date from the date hereof prior to April 17, 2027, for over 30 consecutive trading days, the average volume-average share price of Gen common stock is at least $37.50 or Gen undergoes a change of control. The CVRs are approved to be listed on Nasdaq. — PR

• Altus Power (Delisted; AMPS) has completed its all-cash acquisition by TPG through its TPG Rise Climate Transition Infrastructure strategy, valuing the company at approximately $2.2 billion, including debt. The transaction supports TPG’s broader climate-focused investment strategy and marks a full ownership transition of Altus, a provider of commercial-scale clean electric power. — PR

• Longevity Health Holdings (XAGE) announced a merger with 20/20 BioLabs, Inc., a provider of laboratory tests for chronic disease risk management, in an all-stock transaction. The combined company will retain the XAGE ticker on Nasdaq and is expected to have a post-closing equity valuation of approximately $99 million. Pre-merger, 20/20 is valued at $50 million, and its shareholders will own about 50.1% of the combined entity, while Longevity shareholders will own 49.9%, subject to adjustments tied to earnout milestones. — PR / Deal Page

• Shift4 Payments (FOUR) has extended its all-cash tender offer to acquire all outstanding shares of Global Blue Group (GB). The offer follows a transaction agreement signed in February 2025 and has already met the 90% minimum tender condition. The deal remains subject to regulatory approvals and customary conditions, with closing expected by Q3 2025. — PR / Deal Page

• Vacasa (VCSA) rejected Davidson Kempner’s revised $5.83 per share unsolicited acquisition proposal, citing concerns over deal certainty, unresolved conditions tied to amending the Tax Receivable Agreement, and DK’s creditor status. Despite the higher offer, the Committee reaffirmed support for the amended Casago deal at $5.30 per share due to its cleaner terms and removal of closing condition risks. — PR

Other De-SPAC News

• Webull's (BULL) shares surged 375% in the first two days following its public debut on Friday, April 11, reaching a high of $79.56 on April 14 and a peak market cap of $37 billion, driven by retail investor enthusiasm in a meme-stock-like rally. After closing at $62.90 on Monday, the stock fell 35% to $26.33 on Tuesday, reducing its market cap to $10 billion. Despite the pullback, shares remain up 163% from the $10 SPAC deal price.

• Vincerx Pharma (VINC) announced that its stock will be permanently suspended from trading on April 23 and will be subsequently delisted. The company will dissolve and liquidate. Trading was mistakenly suspended early on April 16 but will resume on April 21. —PR

_{*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:

  • Ares II (AACT) entered into a definitive agreement to merge with Kodiak Robotics (Pre-listing: KDK), an autonomous trucking technology company, in a deal that values Kodiak at a pre-money equity valuation of approximately $2.5 billion. — PR

• No Terminations

• No Completions

Merger Votes

See more: Merger Votes Calendar

• No merger votes set

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

  • Focus Impact BH3 (OTC: BHAC) & XCF Global

  • ShoulderUp Technology (OTC: SUAC) & SEE ID

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

  • Global Star (OTC: GLST) & K Enter

  • Rigel Resources (OTC: RRACF) & Aurous

  • Iris (OTC: IRAA) & Liminatus Pharma

  • Perception Capital IV (OTC: RCFAF) & Blue Gold

  • Aimfinity I (AIMAU) & Docter

  • Integral 1 (OTC: INTE) & Flybondi

  • Finnovate (OTC: FNVTF) & Scage

  • Bukit Jalil Global 1 (BUJA) & Global IBO Group

Extensions

See more: Extension Votes Calendar

• Votes set:

  • Pyrophyte (OTC: PHYTF): Apr 25. – DEF

  • ClimateRock (OTC: CLRCF): Apr 30. – DEF

IPOs and New S-1s

See more: IPO Calendar & Pre-IPO Dataset

• No new IPOs

• New registrations:

  • Timber Road Acquisition Corp. (TMRDU) filed for IPO. – S-1

    • $200M, 1 R (1/8th sh)

    • Focus: Real Estate & Consumer

    • UW: Roth Capital Partners

  • Vendome Acquisition Corporation I (VNME) filed for IPO. – S-1

    • $150M, 1/2 Warrant

    • Focus: N/A

    • UW: D. Boral Capital

  • Globa Terra Acquisition Corporation (GTER) filed for IPO. – S-1

    • $152M, 3/4 Warrant and 1 right (1/20th of a share)

    • Focus: Agribusiness & Water in North America

    • UW: D. Boral Capital

  • EGH Acquisition Corp. (EGHA) filed for IPO. – S-1

    • $150M, 1 right (1/10th of a share)

    • Focus: Energy transition technologies

    • UW: Cohen & Company

  • Yorkville Acquisition Corp. filed for IPO. – S-1

    • $150M, 1/3 Warrant

    • Focus: Media, technology, and entertainment

    • UW: Clear Street

Liquidations

See more: Liquidations Dataset

• Announcements/ Delistings

  • Global Blockchain (Delisted: GBBK) reported its redemption price per share will be appx. $11.49. in connection with its liquidation. GBBK ceased trading and operations on April 14. —SF

• 8 SPACs have liquidated YTD 2025, and 1 (CNGL - active litigation) 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)

Markets were closed on Friday due to Easter holiday.

SPAC Updates

Liquidations / Terminations

• —

Merger Votes / Completions

• —

Deal Updates

• IX Acquisition Corp. (OTC: IXAQF) and its merger parnter, AERKOMM (OTC: AKOM), amended the termination clause in the merger agreement to set April 17, 2025, as the outside closing date and allows either party to terminate the agreement without liability if the merger closing does not occur by that date, provided the terminating party is not in material breach. —SF 

• Globalink Investment (OTC: GLLI) and its merger partner, Alps Global Holding Berhad, amended the merger agreement to remove the requirement for Globalink’s securities to remain listed on Nasdaq as a condition to closing. —SF

Listings

New Issues: IPOs, New S-1s

IPOs

• —

Key Filings

Extensions:

• Mountain & Co. I (MCAA) – PRE

• Integrated Rail and Resources (OTC: IRRX) – PRE

• Rigel Resource (OTC: RRACF) – PRE

S-4 Filings*:

• Yotta (YOTA) & DRIVEiT Financial Auto Group – S-4/A

• Bannix (OTC: BNIX) & Visionwave – S-4/A

• Globalink Investment (OTC: GLLI) & Alps Global Holding Berhad – F-4/A

Post-Merger S-1 Filings**:

• —

*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