Another New SPAC Starts February as White Pearl IPOs. Constellation Acquisition Extension Approved. Spring Valley and EQV Set Deal Vote Dates.

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TODAY’S SPAC IPOs

SPAC IPO: WHITE PEARL ACQUISITION CORP (WPACU)
Ticker: WPACU
Size: $100 Million
Sponsor: White Pearl Group Limited

White Pearl Acquisition Corp. priced its upsized $100 million initial public offering on January 30, 2026, and begins trading on the NYSE today. The vehicle enters the market with momentum, having doubled its initial deal size from $50 million just weeks before pricing—a rare signal of investor appetite in the current environment. Led by CEO Naphat Sirimongkolkasem, the team brings direct “de-SPAC” experience to the table, following Sirimongkolkasem’s successful tenure as CFO of Blue Safari Group Acquisition, which combined with Bitdeer Technologies Group (BTDR) in 2023. The SPAC is positioning itself as a specialist bridge for mid-market tech players looking to scale via public markets.

Strategy: The SPAC is targeting high-growth targets in the Financial Technology (FinTech), Information Technology (InfoTech), and Business Services sectors. Specifically, the team is hunting for companies with enterprise values between $150 million and $600 million that demonstrate recurring revenue models, operating margin expansion potential, and strong market positioning within the Asia-Pacific or global tech ecosystems.

Leadership Team:

• Naphat Sirimongkolkasem (Chairman, CEO & CFO): A veteran of the Asian capital markets and former co-founder of Collis Capital. His track record is anchored by the Bitdeer merger, one of the more notable tech-heavy SPAC combinations in recent years.
• Joseph Shiu Wing Chow (Director): Brings extensive experience in cross-border finance and corporate governance, essential for navigating the complex regulatory landscape of international tech acquisitions.

Structure: 10 million units at $10.00. Each unit consists of one Class A ordinary share and one right to receive one-fifth (1/5) of one Class A ordinary share upon the consummation of an initial business combination. By utilizing rights instead of traditional warrants, White Pearl follows a growing trend of “cleaner” capital structures designed to minimize long-term dilution and derivative accounting friction. D. Boral Capital LLC acted as the sole book-running manager for the offering.

DAILY SPAC UPDATE

SPAC VOTE RESULTS
CSTAF – CONSTELLATION ACQUISITION CORP I * Extend to Jan 29, 2027 * 17,773 redeemed * $237,980 removed * trust $13.39

SPAC DEAL & EXTENSION VOTES SET
SVIIF – Spring Valley Acquisition Corp Ii * DEAL VOTE SET: Feb 23, 2026 * trust $11.91
FTW – EQV Ventures Acquisition Corp * DEAL VOTE SET: Feb 27, 2026 * trust $10.59

SPAC LIQUIDATIONS
AA Mission Acquisition Corp. (AAM)-> Liquidation on Feb 13
Cartica Acquisition Corp (CITE)-> Liquidation on Feb 07

SEPARATE WARRANTS/RIGHTS
Feb 06: TGE VALUE CREATIVE SOLUTIONS CORP (BEBE)
Feb 04: LAFAYETTE DIGITAL ACQUISITION CORP I (ZKP)
Feb 02: BLUEROCK ACQUISITION CORP (BLRK)
Jan 30: MESHFLOW ACQUISITION CORP (MESH)

OTHER SPAC NEWS
ATEK – ATHENA TECHNOLOGY ACQUISITION CORP II * Investor Deck
LKSP – LAKE SUPERIOR ACQUISITION CORP * Merger Agreement
HSPT – HORIZON SPACE ACQUISITION II CORP * Vote Postponed

SPAC MOVERS

YESTERDAY’S TOP SPAC GAINERS
5.1% ~ $ 14.05 | ASPC – ASPAC III ACQUISITION CORP (Announced)
1.3% ~ $ 12.00 | KVAC – KEEN VISION ACQUISITION CORP (Announced)
1.0% ~ $ 10.21 | OYSE – OYSTER ENTERPRISES II ACQUISITION CORP (Pre-Deal)
.9% ~ $ 11.00 | SVAC – SPRING VALLEY ACQUISITION CORP III (Announced)
.6% ~ $ 10.29 | FCRS – FUTURECREST ACQUISITION CORP (Pre-Deal)

YESTERDAY’S TOP SPAC LOSERS
-12.7% ~ $ 13.50 | CCCX – CHURCHILL CAPITAL CORP X (Announced)
-4.1% ~ $ 12.42 | CEPT – CANTOR EQUITY PARTNERS II INC (Announced)
-2.3% ~ $ 7.25 | RDAC – RISING DRAGON ACQUISITION CORP (Announced)
-1.8% ~ $ 9.95 | HCAC – HALL CHADWICK ACQUISITION CORP (Pre-Deal)
-1.3% ~ $ 11.60 | AEXA – AMERICAN EXCEPTIONALISM ACQUISITION CORP A (Pre-Deal)

LATEST SPAC IPO PERFORMANCE
Feb 02 | WPAC – White Pearl Acquisition Corp
Jan 30 | MEVO – M Evo Global Acquisition Corp II
Jan 30 | NBRG – Newbridge Acquisition Ltd
Jan 30 | TBD – Muzero Acquisition Corp
Jan 29 | UAC – United Acquisition Corp. I
Jan 29 | KII – K2 Capital Acquisition Corp
Jan 29 | XSLL – Xsolla SPAC 1
Jan 28 | $ 10.19 | SAAQ – Space Asset Acquisition Corp.
Jan 28 | $ 10.13 | KRAQ – KRAKacquisition Corp
Jan 27 | $ 10.06 | GIX – GigCapital9 Corp.
Jan 27 | $ 9.99 | MLAA – Mountain Lake Acquisition Corp. II
Jan 23 | $ 10.00 | PTOR – Praetorian Acquisition Corp.
Jan 23 | HLXC – Helix Acquisition Corp. III
Jan 23 | $ 10.03 | LEGO – Legato Merger Corp. IV
Jan 23 | $ 10.10 | ARCI – Archimedes Tech SPAC Partners III Co
Jan 22 | $ 9.99 | ALOV – Aldabra 4 Liquidity Opportunity Vehicle, Inc.
Jan 21 | $ 10.00 | XCBE – X3 Acquisition Corp. Ltd.
Jan 16 | $ 9.99 | FGII – FG Imperii Acquisition Corp
Jan 16 | $ 10.22 | IEAG – Infinite Eagle Acquisition Corp.
Jan 14 | $ 10.10 | OIM – OneIM Acquisition Corp.
Jan 09 | $ 10.00 | ZKP – Lafayette Digital Acquisition Corp. I
Jan 08 | $ 10.11 | BBCQ – Bleichroeder Acquisition Corp. II
Jan 07 | $ 9.98 | SORN – Soren Acquisition Corp.
Jan 06 | $ 10.11 | BIII – Black Spade Acquisition III Co
Jan 06 | $ 10.00 | ARTC – Art Technology Acquisition Corp.