Daily SPAC Update – November 11, 2025

by | Nov 11, 2025

Evolution Global Upsized $210 Million SPAC IPO. Chenge III Separate Trading.YHN Acquisition Merger Amendment.

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Daily SPAC Update

Evolution Global Acquisition Corp $210 IPO
The newly listed Evolution Global Acquisition Corp (NASDAQ: EVOXU) has priced an upsized IPO at $210 million, with its units scheduled to begin trading on November 11, 2025. The SPAC is targeting acquisition opportunities in the U.S. critical-minerals sector—areas deemed important for national security and supply-chain resilience.

The SPAC priced 21 million units at $10.00 per unit, generating gross proceeds of $210 million — an upsizing from the originally-planned 17.5 million units. Each unit comprises one Class A ordinary share and ½ a redeemable warrant; each full warrant entitles the holder to purchase one Class A share at an exercise price of $11.50. The units will begin trading on the Nasdaq Stock Market under the ticker “EVOXU” starting November 11, 2025, and once separated the shares and warrants are expected to trade under “EVOX” and “EVOXW”, respectively.

The underwriter, Cohen & Company Capital Markets, was granted a 45-day option to purchase up to an additional 3 million units to cover any over-allotment (i.e., a “greenshoe” style option). The SPAC is led by Chairman & CEO Stephen Marc Silver, and COO/Director Ashley Elizabeth Zumwalt‑Forbes. Board members include Matthew Ryan Langford and Erez Ichilov.The stated strategy: to pursue a business combination with one or more companies that own, operate, or are developing assets in the critical minerals sector, which the company says are “fundamental to the economic and national security interests of the United States.”

SEPARATE WARRANTS/RIGHTS
Nov 11: CHENGHE ACQUISITION III CO (CHECU)
Nov 10: GALATA ACQUISITION CORP II (LATA)

OTHER SPAC NEWS
YHNA – YHN ACQUISITION I LTD * Merger Agreement Amendment

SPAC LIQUIDATIONS
Rigel Resource Acquisition Corp. (RRAC)-> Liquidation on Nov 07

SPAC DEALS ANNOUNCED
Nov 10 | COLA – Columbus Acquisition Corp + WISeSat.Space

ABOUT WISeSat.Space
WISeSat.Space Holdings, which we refer to as WISeSat, was incorporated in 2025, and is a holding company for WISeSat.Space AG, which was incorporated in 2024, and is headquartered in Zug, Switzerland. WISeSat operates as a subsidiary of WISeKey. WISeSat’s nanosatellite constellation is designed to deliver real-time, low-cost, and secure IoT connectivity for sectors including energy, logistics, infrastructure, and climate monitoring. Through advanced encryption and distributed ledger integration, WISeSat enables tamper-proof, decentralized communication frameworks that support critical global applications.

SPAC DEAL TERMINATIONS (Last 10 Days)
2025-11-07: RRAC + Aurous

NEW SPAC IPOs
Nov 11: EVOX – Evolution Global Acquisition Corp $210M IPO
Nov 07: CRAC – Crown Reserve Acquisition Corp I $150M IPO
Nov 07: TDWD – Tailwind 2.0 Acquisition Corp. $150M IPO
Nov 04: WSTN – Westin Acquisition Corp $50M IPO (+underwriter overallotment: $7.5M)
Nov 04: CEPV – Cantor Equity Partners V, Inc. $220M IPO (+underwriter overallotment: $30M)

SPAC Movers

YESTERDAY’S TOP SPAC GAINERS
7.30% ~ $ 12.50 | ALCY – ALCHEMY INVESTMENTS ACQUISITION CORP 1 (Announced)
5.53% ~ $ 16.03 | CEP – CANTOR EQUITY PARTNERS INC (Announced)
3.53% ~ $ 11.45 | QETA – QUETTA ACQUISITION CORP (Announced)
2.11% ~ $ 11.13 | RTAC – RENATUS TACTICAL ACQUISITION CORP I (Pre-Deal)
1.62% ~ $ 12.54 | DYCQ – DT CLOUD ACQUISITION CORP (Announced)

YESTERDAY’S TOP SPAC LOSERS
-8.80% ~ $ 11.40 | AFJK – AIMEI HEALTH TECHNOLOGY CO LTD (Announced)
-7.23% ~ $ 17.33 | CCCX – CHURCHILL CAPITAL CORP X (Announced)
-5.04% ~ $ 10.75 | ASPC – ASPAC III ACQUISITION CORP (Announced)
-3.54% ~ $ 12.25 | SVII – SPRING VALLEY ACQUISITION CORP II (Announced)
-2.56% ~ $ 7.12 | ATMV – ALPHAVEST ACQUISITION CORP (Announced)

LATEST SPAC IPO PERFORMANCE
Nov 07 | $ 10.04 | TDWD – Tailwind 2.0 Acquisition Corp.
Nov 07 | $ 10.09 | CRAC – Crown Reserve Acquisition Corp I
Nov 04 | $ 10.27 | CEPV – Cantor Equity Partners V, Inc.
Nov 04 | $ 10.03 | WSTN – Westin Acquisition Corp
Oct 31 | $ 10.08 | VACI – Viking Acquisition Corp I
Oct 30 | $ 10.14 | DNMX – Dynamix Corp III
Oct 29 | $ 10.15 | DYOR – Insight Digital Partners II
Oct 28 | $ 10.11 | APXT – Apex Treasury Corp
Oct 24 | $ 10.08 | LAFA – LaFayette Acquisition Corp.
Oct 23 | $ 10.01 | HAVA – Harvard Ave Acquisition Corp
Oct 23 | $ 10.02 | MMTX – Miluna Acquisition Corp
Oct 22 | $ 10.02 | ALIS – Calisa Acquisition Corp

Recent Analysis

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