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.

ListingTrack Pro feature updates:

• On Friday, we added a Curated Feed section to the SPAC News page, which will display our analysis of key SPAC updates as well as key De-SPAC updates (post-close S-1 registrations, De-SPAC M&A, etc.)

• We also added the Curated Feed section to individual SPAC/De-SPAC company pages.

Now, the same updates you get in the daily Pro newsletter, you can find on our website in the Curated Feed section on the SPAC News page or within the relevant company page profile. See the screenshots below.

Weekly SPAC Review (Oct 14th - 18th)

Headlines of the Week

De-SPAC M&A

• AGBA (AGBA) completed its reverse merger with Triller ($ILLR) on Oct 15, and Triller began trading under the new symbol ILLR on Oct 16.

• 23andMe ($ME) CEO Anne Wojcicki has been pitching VCs on investing in a take-private deal that would “redefine 23andMe as a healthcare subscription business and a provider of genetic data.” Additionally, she told investors that the company would focus its efforts on marketing its database to pharmaceutical companies and researchers. — FT

Other De-SPAC News

• Fisker (FSRNQ) shareholders were wiped out as its bankruptcy plan became effective.

• Shift Technologies’ (SFTGQ) existing shares were canceled worthless as its bankruptcy plan became effective.

• Zapata ($ZPTA) will cease operations and terminate nearly all employees due to insolvency. The company owes approximately $4.8 million to creditors, exceeding its asset value. It doesn't plan to file for bankruptcy or seek shareholder approval for the shutdown. After settling debts, Zapata expects no remaining assets for shareholder distribution. — SF

• Altus Power ($AMPS) launched a formal review of strategic alternatives, including exploring alternative ownership structures. AMPS has retained Moelis to assist with the review. — PR

• Investor brothers of Digital World Acquisition Corp, the SPAC that took Trump MTG ($DJT) public, sentenced to 22 months and 28 months in NY federal court — BB

SPAC Coverage*

• Metal Sky Star ($MSSA) announced it entered into an LOI with Fedilco Group

• Israel Acquisitions Corp ($ISRL) entered into a non-binding LOI with Gadfin Aero-Logistics Systems

• Cartesian Growth Corp II ($RENE) entered into a non-binding LOI with an unnamed target in the risk-reduction products sector

• Downlisted to OTC:

  • IX Acq. Corp (IXAQ —> $IXAQF)

  • Focus Impact BH3 Acq. Corp ($BHAC)

• Compass Digital Acquisition Corp. ($CDAQ) will be delisted on Oct 22

• Investcorp India Acquisition Corp. ($IVCA) changed its name from Investcorp India to Investcorp AI Acquisition Corp

_{*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:

  • Atlantic Coastal II ($ACAB) & Abpro: Nov 7 — SF

• Deals in limbo — merger approved & pending closing:

  • Nova Vision [$NOVV] & Real Messenger

  • Focus Impact [$FIAC] & DevvStream

Extensions

See more: Extension Votes Calendar

• Approvals:

  • $RMGC: Aug 2025

• Votes set:

  • $FNVT

IPOs and New S-1s

See more: IPO Calendar & Pre-IPO Dataset

• No new IPOs or new registrations

Liquidations

See more: Liquidations Dataset

• Announcements/ Delistings

  • Global Technology I (GTAC): the last trading day was Oct 17

  • Canna-Global ($CNGL): see Friday’s update below for more info

• 42 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

• Spectaire (OTC: $SPEC) defaulted on its $9.14M debt obligation to its lender, Arosa, who is scheduled to sell Spectaire's assets on Nov 15. If the asset sale is consummated, Spectaire will be left with no material assets. — SF

• Sam Altman-backed Oklo ($OKLO) doubles in value on AI power demand — BB

• Better Therapeutics (Liquidated: BTTX) SPAC Deal Challenge Must Proceed, Judge Says — BB Law

• Nukkleus ($NUKK) to implement a 1-for-8 reverse stock split ahead of trading on Oct 24. — SF

SPAC Updates

Liquidations / Terminations

• Canna-Global (OTC: $CNGL) has opted to liquidate per a press release issued by Continental (CNGL’s trust agent) that announced it has launched a lawsuit against CNGL due to its "failure, after repeated demands, to buy in and cancel the 724,000 shares of Class A common shares which it caused to be issued in violation of its Certificate of Incorporation, thereby diluting the value of the trust." — PR

Merger Votes / Completions

• Atlantic Coastal II ($ACAB) (MP: Abpro) set the merger vote for Nov 7. — SF

• Clover Leaf ($CLOE) (MP: Kustom Entertainment) adjourned the merger vote for its merger to Nov 8. — SF

Deal Updates

• Rigel Resource Acquisition Corp. ($RRAC) (MP: Aurous) and Aurous amended the BCA to, among other things, extend the outside date from Aug 9 to Dec 31. – SF

• RF Acquisition Corp ($RFAC) (MP: GCL Asia) and a subsidiary of GCL Global entered into a convertible note agreement with investors for up to $20.025M. — SF

Extensions

• RMG III ($RMGCF) was approved to extend up to Aug 2025. ~85% of the public SPAC shares were redeemed. Remaining in trust: ~$0.9M / 82,021 shares. – SF

• Chenghe Acquisition I Co. ($LATG) increased the proposed contribution to the trust. — SF

• Northern Revival Acquisition Corporation ($NRAC) filed a supplement to its proxy regarding the upcoming Extension Vote. — SF

Key Filings

Extensions:

• AI Transportation Acquisition Corp. ($AITR) — PRE

• Bellevue Life Sciences Acquisition Corp. ($BLAC) — PRE

• Global Lights Acquisition Corp ($GLAC) — PRE

• Healthcare AI Acquisition Corp. ($HAIA) — PRE

S-4 Filings*:

• Finnovate Acquisition Corp. ($FNVT) — F-4/A

*The latest S-4 filings can be found in the Announced Mergers dataset.

Key Event Calendar:

See the full calendar: SPAC Calendar