Daily SPAC Update – September 3, 2025

by | Sep 3, 2025

Denali Capital + Semnur Pharmaceuticals Deal Vote. Solarius Capital Separate Trading. Dynamix Gets Ether Injection.

Boardroom Alpha SPAC Resources
– Full SPAC Listing
– SPAC SEC Filings
– Boardroom Alpha IPO & SPAC Intelligence Platform (7-Day Trial)

Daily SPAC Update

MERGER VOTES
DECA – Denali Capital Acquisition Corp + Semnur Pharmaceuticals, Inc.
Semnur Pharmaceuticals, Inc. is a clinical-late stage specialty pharmaceutical company focused on the development and commercialization of novel non-opioid pain therapies. Semnur’s lead program, SP-102, is the first non-opioid novel gel formulation administered epidurally in development for patients with moderate to severe chronic radicular pain/sciatica. Semnur Pharmaceuticals, Inc. is headquartered in Palo Alto, California.

SEPARATE WARRANTS/RIGHTS
Sep 05: SOLARIUS CAPITAL ACQUISITION CORP (SOCA)
Sep 03: NMP ACQUISITION CORP (NMP)

OTHER SPAC NEWS
ETHM – DYNAMIX CORP * Stockholder Agreement

NEW SPAC IPOs
Aug 27: KOYN – CSLM Digital Asset Acquisition Corp III, Ltd $200M IPO (+underwriter overallotment: $30M)
Aug 27: MBVI – M3-Brigade Acquisition VI Corp. $300M IPO (+underwriter overallotment: $45M)

SPAC Movers

YESTERDAY’S TOP SPAC GAINERS
7.57% ~ $ 10.51 | IROH – IRON HORSE ACQUISITIONS CORP (Announced)
1.71% ~ $ 11.93 | ATMC – ALPHATIME ACQUISITION CORP (Announced)
1.16% ~ $ 11.31 | NETD – NABORS ENERGY TRANSITION CORP II (Announced)
.33% ~ $ 10.49 | GRAF – GRAF GLOBAL CORP (Pre-Deal)
.33% ~ $ 11.67 | TBMC – TRAILBLAZER MERGER CORP I (Announced)

YESTERDAY’S TOP SPAC LOSERS
-9.84% ~ $ 11.00 | EMCG – EMBRACE CHANGE ACQUISITION CORP (Announced)
-5.49% ~ $ 10.67 | YORK – YORKVILLE ACQUISITION CORP (Announced)
-4.35% ~ $ 11.00 | ALCY – ALCHEMY INVESTMENTS ACQUISITION CORP 1 (Announced)
-2.90% ~ $ 12.30 | DMYY – DMY SQUARED TECHNOLOGY GROUP INC (Pre-Deal)
-1.71% ~ $ 11.50 | HOND – HCM II ACQUISITION CORP (Announced)

LATEST SPAC IPO PERFORMANCE
Aug 27 | $ 10.06 | KOYN – CSLM Digital Asset Acquisition Corp III, Ltd
Aug 27 | $ 10.02 | MBVI – M3-Brigade Acquisition VI Corp.
Aug 21 | $ 10.10 | CEPF – Cantor Equity Partners IV, Inc.
Aug 12 | $ 10.05 | HVMC – Highview Merger Corp.
Aug 12 | $ 9.98 | MKLY – McKinley Acquisition Corp
Aug 08 | $ 10.04 | SSEA – STARRY SEA ACQUISITION CORP
Aug 05 | $ 10.04 | QUMS – Quantumsphere Acquisition Corp

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.

Subscribe to Boardroom Alpha Newsletters

Subscribe to Boardroom Alpha's research to receive the latest on governance, SPACs, and people.

Disclaimer

The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Boardroom Alpha cannot guarantee its accuracy and completeness, and that of the opinions based thereon. 

This report contains opinions and is provided for informational purposes only – it does not constitute investment, legal or tax advice. You should not rely solely upon the research herein for purposes of transacting securities or other investments, and you are encouraged to conduct your own research and due diligence, and to seek the advice of a qualified securities professional before you make any investment.  

None of the information contained in this report constitutes, or is intended to constitute a recommendation by Boardroom Alpha of any particular security or trading strategy or a determination by BA that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.  

No representation or warranty, expressed or implied, is made on behalf of Boardroom Alpha as to the accuracy or completeness of the information contained herein. Boardroom Alpha does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed.