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 (Oct 21-25)

Headlines of the Week*

De-SPAC M&A

• Sharecare (SHCR): Altaris closed its acquisition of Sharecare for $1.43 per share in cash. — PR

Other De-SPAC News

• Lilium ($LILM): Lilium has been unable to secure funding and is expected to file for insolvency in Germany for two of its German subsidiaries following the German government's refusal to approve a €50 million loan guarantee. The parent company is considering insolvency as well. — SF

• PLBY Group ($PLBY): Hugh Hefner’s Son Offers to Buy Playboy Brand from for $100M. PLBY Group rejected Cooper Hefner’s offer stating that the offer substantially undervalues the Playboy assets. — WSJ / PR

• Zapata ($ZPTA) was delisted by Nasdaq and moved to OTC.

SPAC Coverage

• Investcorp Europe ($IVCB) reported it received the $30M termination fee from Zacco Holdings and declared a distribution of the net amount equal to $0.60 per public share. IVCB is still considering whether to liquidate or seek an extension for its Dec 17 deadline.

_{*Covering the notable activity not included in the Friday’s update below}

Key Weekly SPAC Activity

Deal Announcements/ Terminations/ Closings

See more: SPAC Deal Pipeline

• Mergers announced:

  • Investcorp AI ($IVCA) & Australian sales software development group, Bigtincan Limited at a $275M pre-money equity valuation. — PR

  • Flag Ship ($FSHP) & Chinese firm Great Rich Technologies (GRT), a South Korean-listed maker of optoelectronic products for consumer electronics. — PR

  • DT Cloud ($DYCQ) & a biopharma company focusing on small-molecule chemical drugs, Maius Pharmaceutical, at a $250M equity value. — PR

• Terminations:

  • Aetherium ($GMFI) & Capital A International (subsidiary of Air Asia parent, Capital A)

• No Completions

Merger Votes

See more: Merger Votes Calendar

• No Merger votes set

• Deals in limbo — merger approved & pending closing:

  • Nova Vision ($NOVV) & Real Messenger

  • Focus Impact ($FIAC) & DevvStream

Extensions

See more: Extension Votes Calendar

• Approvals:

  • $CLOE: Oct 2025

• Votes set:

  • $FIAC, $RENE, $IRRX, $GBBK, $MSSA, $MCAG, $CCTS

IPOs and New S-1s

See more: IPO Calendar & Pre-IPO Dataset

• New IPOs:

  • Charlton Aria ($CHAR-U)

  • Bold Eagle ($BEAG-U)

  • Oaktree III Life Sciences ($OACC-U)

  • Aldel Financial II ($ALDF-U)

• New registrations

  • Horizon Space II (HSPT)

  • Translational Development (TDAC)

Liquidations

See more: Liquidations Dataset

• Announcements/ Delistings

  • Generation Asia I ($GAQ)

  • Vision Sensing (VSAC): last trading day was Oct 25.

• 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

• BM Technologies (BMTX), a digital banking platform, announced it will be acquired by First Carolina Bank. Terms: All-cash deal at $5.00 per share (55.28% premium to the closing price prior to announcement), or a total equity value of appx. $67M. —PR

• Evolv Technology ($EVLV) will restate its financial statements after an internal investigation revealed approximately $4M to $6M in prematurely recognized revenue and misconduct by certain personnel related to the flagged transactions. EVLV was down 40% at closing in Friday’s session. — PR / BB

SPAC Updates

Liquidations / Terminations

• Onyx I ($ONYX) will liquidate effective Nov 13 with an appx. redemption price of $11.42. — PR

Merger Votes / Completions

• Focus Impact’s ($FIAC) merger partner DevvStream announced that it expects to start trading on Nasdaq under the symbol DEVS on Oct 31, following the merger's closing. — PR

Listings

New Issues: IPOs, New S-1s

IPOs

• Bold Eagle ($BEAG-U) closed its $250M IPO. – PR 

• Charlton Aria ($CHAR-U) closed its $75M IPO. — PR

Key Filings

Extensions:

• Northern Revival ($NRAC) — DEF

• ESH ($ESHA) — PRE

• Roth CH V Co. ($ROCL) — PRE

S-4 Filings*:

• Global Star ($GLST) & K Enter — F-4/A

Post-Merger S-1 Filings**:

• NewGenIvf ($NIVF) — 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