Daily SPAC Update – December 19, 2025

by BA Research | Dec 19, 2025

Cartesian Growth III Deal with Factorial. Rising Dragon Extension Fee Change Approved. Integrated Wellness Extension Approved. TGE Value SPAC IPO.

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

Daily SPAC Update

SPAC VOTE RESULTS
WELNF – INTEGRATED WELLNESS ACQUISITION CORP * Extend to Mar 16, 2026 * 1,109,590 redeemed * $14,313,711 removed * trust $12.90
RDAC – RISING DRAGON ACQUISITION CORP * Extension Fee Approval * 1,548,345 redeemed

SPAC DEALS ANNOUNCED
Dec 18 | CGCT – Cartesian Growth Corp III + Factorial
Founded and headquartered in the Boston, Massachusetts, area, Factorial operates at the forefront of solid-state battery development, offering safe, high-performance alternatives to traditional lithium-ion technologies. Its proprietary FEST® (Factorial Electrolyte System Technology) and Solstice™ platforms deliver greater energy density, enhanced safety, and compatibility with existing manufacturing systems. Factorial’s commercial partnerships include global automotive leaders such as Mercedes-Benz, Stellantis, Hyundai Motor Company, and Kia Corporation. Early investors include GVP Climate in partnership with Gatemore Capital Management and WAVE Equity Partners.

EXTENSION VOTES
SHAP – SPREE ACQUISITION CORP 1 LTD * vote December 19, 2025 -> extend from December 20, 2025 to December 20, 2026

OTHER SPAC NEWS
RDAC – RISING DRAGON ACQUISITION CORP * Revised Extension Fee Approved * 1,548,345 redeemed
ROSS – ROSS ACQUISITION CORP II * Merger Agreement Amendment

SEPARATE WARRANTS/RIGHTS
Dec 22: INVEST GREEN ACQUISITION CORP (IGAC)
Dec 17: BITCOIN INFRASTRUCTURE ACQUISITION CORP LTD (BIXI)

SPAC Movers

YESTERDAY’S TOP SPAC GAINERS
100.8% ~ $ 52.23 | AFJK – AIMEI HEALTH TECHNOLOGY CO LTD (Announced)
17.2% ~ $ 10.39 | RDAC – RISING DRAGON ACQUISITION CORP (Announced)
14.7% ~ $ 12.00 | ASPC – ASPAC III ACQUISITION CORP (Announced)
7.5% ~ $ 12.64 | ESHA – ESH ACQUISITION CORP (Announced)
2.8% ~ $ 12.34 | TBMC – TRAILBLAZER MERGER CORP I (Announced)

YESTERDAY’S TOP SPAC LOSERS
-1.9% ~ $ 10.75 | VCIC – VINE HILL CAPITAL INVESTMENT CORP (Announced)
-1.3% ~ $ 10.76 | DTSQ – DT CLOUD STAR ACQUISITION CORP (Pre-Deal)
-1.0% ~ $ 10.44 | CEPO – CANTOR EQUITY PARTNERS I INC (Announced)
-.8% ~ $ 12.40 | ISRL – ISRAEL ACQUISITIONS CORP (Announced)
-.7% ~ $ 10.63 | YHNA – YHN ACQUISITION I LTD (Announced)

LATEST SPAC IPO PERFORMANCE
Dec 19 | BEBE – TGE Value Creative Solutions Corp
Dec 18 | VHCP – Vine Hill Capital Investment Corp. II
Dec 18 | ADAC – American Dynamism Acquisition Co
Dec 18 | LPCV – Launchpad Cadenza Acquisition Corp I
Dec 17 | IRHO – Iron Horse Acquisition Corp. II
Dec 17 | CCXI – Churchill Capital Corp XI
Dec 16 | $ 10.05 | CRAN – Crane Harbor Acquisition Corp. II
Dec 12 | $ 9.98 | TWLV – Twelve Seas Investment Co III
Dec 12 | $ 9.96 | ITHA – ITHAX Acquisition Corp III
Dec 11 | $ 10.08 | KBON – Karbon Capital Partners Corp.
Dec 11 | $ 10.01 | BLRK – Bluerock Acquisition Corp.
Dec 10 | $ 10.01 | MESH – Meshflow Acquisition Corp
Dec 09 | $ 10.04 | DSAC – Daedalus Special Acquisition Corp.
Dec 05 | $ 10.01 | LFAC – Leapfrog Acquisition Corp
Dec 04 | $ 10.02 | AEAQ – Activate Energy Acquisition Corp.
Dec 04 | $ 10.37 | NWAX – New America Acquisition I Corp.
Dec 04 | $ 10.10 | SAC – Safeguard Acquisition Corp.
Dec 03 | $ 9.99 | GPAC – General Purpose Acquisition Corp.
Dec 03 | $ 10.07 | SBXE – SilverBox Corp V
Dec 02 | $ 10.00 | BIXI – Bitcoin Infrastructure Acquisition Corp Ltd.
Nov 26 | $ 10.08 | SCII – SC II Acquisition Corp
Nov 25 | $ 10.02 | IGAC – Invest Green Acquisition Corp
Nov 21 | $ 10.03 | HCAC – Hall Chadwick Acquisition Corp

Recent Analysis

Daily SPAC Update – December 18, 2025

December SPAC IPOs Hit 19 as Launchpad Cadenza, American Dynamism, and Vine Hill Capital II Debut. Papaya Growth and Concord Extensions Approved.

Daily SPAC Update – December 17, 2025

December SPAC IPOs Keep Coming: Michael Klein Back with $360 Million Churchill XI. Iron Horse II $200 Million Debut.

Daily SPAC Update – December 16, 2025

Crane Harbor II $300 Million Upsized SPAC IPO. DMY Squared and Bayview Extensions approved. Alphatime and Concord II Votes Today. Bitcoin Infrastructure Separate Trading Tomorrow.

Daily SPAC Update – December 15, 2025

December SPAC IPO Update. Alpha Star Acquisition Extension Approved. DT Cloud Star Extension Fee Vote. Harvard, Miluna Separate Trading Today and Bitcoin Infrastructure Later this Week.

Daily SPAC Update – December 12, 2025

SPACs Go For the Three-Peat: ITHAX III and Twelve Seas III Raise $350M in New IPOs

Subscribe to Boardroom Alpha Newsletters

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.