Daily SPAC Update – March 13, 2024

by David Pogemiller | Mar 13, 2024

Two Liquidations: ALTU, EAC. IVCP Extension Vote. TWOA Sets Extension Vote. Call Transcripts for RRAC, BHAC. TRON, BNIX, IRAA Deals Approved.

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Daily SPAC Update

SPAC DEALS ANNOUNCED
BHAC + XCF Global Capital

EXTENSION VOTES
IVCP – SWIFTMERGE ACQUISITION CORP * vote March 13, 2024 -> extend to June 17, 2024

SPAC LIQUIDATION
ALTU – ALTITUDE ACQUISITION CORP * $10.1577 per-share
EAC – EDIFY ACQUISITION CORP * Liquidation * trust $10.61

SPAC VOTES SET
TWOA – TWO * Deal Vote Set: Mar 25, 2024 * trust $10.78

SPAC VOTE RESULTS
TRON – CORNER GROWTH ACQUISITION CORP 2 * Extend to Dec 31, 2024 * 1,407,653 redeemed * trust $11.55
BNIX – BANNIX ACQUISITION CORP * Extend to Sep 14, 2024 * 1,381,866 redeemed * trust $10.99
IRAA – IRIS ACQUISITION CORP * Extend to Jun 09, 2024 * 119,572 redeemed * trust $10.65

OTHER SPAC NEWS
NSTB – NORTHERN STAR INVESTMENT CORP II * Confirms final per share amount of distribution * trust $10.45
BHAC – FOCUS IMPACT BH3 ACQUISITION CO * Investor call transcript
RRAC – RIGEL RESOURCE ACQUISITION CORP * Investor call transcript
ESAC – ESGEN ACQUISITION CORP * Non-redemption Agreement

YESTERDAY’S TOP SPAC GAINERS
8.90% ~ $ 10.40 | RWOD – Redwoods Acquisition Corp. (Announced)
6.81% ~ $ 8.00 | DHCA – DHC Acquisition Corp (Announced)
6.76% ~ $ 9.00 | HCMA – HCM Acquisition Corp (Announced)
5.85% ~ $ 13.21 | MCAF – Mountain Crest Acquisition Corp. IV (Announced)
5.53% ~ $ 11.34 | ACAB – Atlantic Coastal Acquisition Corp. II (Announced)

YESTERDAY’S TOP SPAC LOSERS
-28.25% ~ $ 21.00 | XPDB – Power Digital Infrastructure Acquisition II Corp. (Announced)
-17.99% ~ $ 10.94 | CNDB – Concord Acquisition Corp III (Announced)
-12.05% ~ $ 8.03 | ADOC – Edoc Acquisition Corp (Announced)
-6.68% ~ $ 7.70 | ESAC – ESGEN Acquisition Corp (Announced)
-3.34% ~ $ 10.41 | WNNR – Andretti Acquisition Corp. (Announced)

Recent Analysis

Daily SPAC: GUAC, IDAC IPOs Add $400M in SPAC Capital – May 15, 2026

2 SPAC IPOs priced today, with Berto Acquisition Corp. II (GUAC) raising $250M and Iron Dome Acquisition I Corp (IDAC) raising $150M; IDAC funded trust at 100.5% of par. May MTD totals 9 IPOs / $1,425M through 15 days vs. 5 / $725M over the same span last month. Separately, RAAQ advanced its IQM merger with an F-4 filing.

Daily SPAC: SIMA, CAEP-Air Redemptions – May 14, 2026

SIM Acquisition I (SIMA) lost $242M from trust on its extension approval to Jul. 12, 2027, and Cantor Equity Partners III (CAEP) cleared its Air deal after $234M in redemptions. Separately, GSR V Acquisition (GSRV) priced a $200M IPO, taking May MTD to 7 SPAC IPOs / $1,025M through 14 days.

Daily SPAC: BREZ $125M IPO, GPAT Non-Redemption Agreements – May 13, 2026

GP-ACT III Acquisition (GPAT) disclosed non-redemption agreements tied to extension and trust-amendment votes, with investors pledging support and no redemptions alongside sponsor share transfers. Breeze Acquisition Corp. II (BREZ) priced a $125M IPO today with 100.2% initial trust funding; May MTD is 6 IPOs for $825M through 13 sessions vs. 2 IPOs / $350M at the same point last month.

Daily SPAC: CAEP Forward Purchase, AIR-Pubco – May 12, 2026

Cantor Equity Partners III (CAEP) announced a forward purchase with Harraden Circle to fund the CAEP-AIR-Pubco business combination. Columbus Acquisition (COLA) issued a convertible extension note to WISeSat.Space. MTD: 5 SPAC IPOs raised $700M through the first 12 sessions of May vs. 2 IPOs / $350M over the same span in April.

Daily SPAC Update – May 11, 2026

Risking Dragon (RDAC) extension vote set. Flag Ship enters letter of intent with Bluechip. Alchemy Investments to delist and move to OTC on May 14.

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