Daily SPAC Update – May 16, 2024

by David Pogemiller | May 16, 2024

PLMI SPAC Deal Vote Set. CNDA Extension Vote Set. BFAC & GTAC Merger Agreements. ICVB Merger Agreement Amendment. BCSA, NPAB, EVGR Extensions Approved.

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Daily SPAC Update

SPAC DEALS ANNOUNCED
GTAC + Tyfon Culture Holdings Limited

SPAC VOTES SET
PLMI – PLUM ACQUISITION CORP I * Deal Vote Set: Jun 04, 2024 * trust $11.14
CNDA – CONCORD ACQUISITION CORP II * Extension Vote Set: May 30, 2024 * trust $10.61

OTHER SPAC NEWS
BFAC – BATTERY FUTURE ACQUISITION CORP * Merger Agreement
GTAC – GLOBAL TECHNOLOGY ACQUISITION CORP I * Merger Agreement
IVCB – INVESTCORP EUROPE ACQUISITION CORP I * Merger Agreement Amendment

SPAC VOTE RESULTS
BCSA – BLOCKCHAIN COINVESTORS ACQUISITION CORP I * Extend to Nov 15, 2024 * 533,146 redeemed * trust $11.18
NPAB – NEW PROVIDENCE ACQUISITION CORP II * Extend to Nov 09, 2024 * 4,585,351 redeemed * trust $10.89
EVGR – EVERGREEN CORP * Extend to Feb 11, 2025 * 2,831,713 redeemed

YESTERDAY’S TOP SPAC GAINERS
9.73% ~ $ 12.29 | CCTS – Cactus Acquisition Corp. 1 Ltd (Pre-Deal)
4.33% ~ $ 13.98 | ADRT – Ault Disruptive Technologies Corp (Pre-Deal)
1.96% ~ $ 11.18 | OCAX – OCA Acquisition Corp (Announced)
1.91% ~ $ 11.34 | GMFI – Aetherium Acquisition Corp (Announced)
1.76% ~ $ 11.00 | QOMO – Qomolangma Acquisition Corp. (Pre-Deal)

YESTERDAY’S TOP SPAC LOSERS
-12.28% ~ $ 9.86 | USCT – TKB Critical Technologies 1 (Pre-Deal)
-11.53% ~ $ 8.06 | PLTN – Plutonian Acquisition Corp. (Announced)
-8.62% ~ $ 10.18 | SCRM – Screaming Eagle Acquisition Corp. (Announced)
-6.86% ~ $ 10.25 | SEPA – SEP ACQUISITION CORP (Announced)
-6.74% ~ $ 7.19 | DECA – Denali Capital 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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