Spacsphere and Cambridge Bring February to 7 SPAC IPOs. Dune Acquisition II Gets a New Sponsor. Clean Energy Special Situations Extension Approved. PUCK Vote Today.

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TODAY’S SPAC IPOs

SPAC IPO: SPACSPHERE ACQUISITION CORP. (SSAC)
Ticker: SSAC (Units: SSACU)
Size: $150 Million
Sponsor: Spacsphere Sponsor LLC

Spacsphere Acquisition Corp. priced its $150 million IPO on February 5, 2026, and begins trading on the Nasdaq today. This generalist vehicle enters the market with a heavy lean toward the digital assets, technology, and healthcare sectors. The deal structure is notably complex for the current environment, featuring a “triple-threat” unit composed of a share, a half-warrant, and a right for one-fifth of a share. This structure is clearly designed to appeal to yield-seeking investors while providing the sponsor with a more stable, non-redeemable equity base (via the rights) heading into a potential de-SPAC.

Strategy: The team is hunting for high-growth targets in digital assets, tech-enabled services, and healthcare. They are specifically looking for companies that can benefit from management’s experience in navigating the intersection of private equity and public market scaling.

Leadership Team:

• Bala Padmakumar (Chairman & CEO): A seasoned technologist and entrepreneur with a track record in strategic partnerships and private equity. He has previously held executive roles across multiple SPAC vehicles, bringing institutional memory to this launch.
• Soumen Das (CFO): Previously the Director of Capital Markets at VIKASA Capital, Das brings extensive experience in SPAC finance and public market transitions.

Structure: 15 million units at $10.00. Each unit consists of one Class A ordinary share, one-half (1/2) of one redeemable warrant (exercisable at $11.50), and one right to receive one-fifth (1/5) of a share upon merger completion. D. Boral Capital LLC acted as the sole book-runner.

SPAC IPO: CAMBRIDGE ACQUISITION CORP. (CAQ)
Ticker: CAQ (Units: CAQUU)
Size: $200 Million
Sponsor: Cambridge Sponsor LLC

Cambridge Acquisition Corp. hit the Nasdaq today after pricing a $200 million offering. Based in Boston, this SPAC is a pure-play bet on “transitional” technology and wellness markets. Unlike the broader tech-focused vehicles of 2021, Cambridge is taking a surgical approach, targeting “recession-resilient” subsectors that are currently misunderstood or stigmatized by traditional capital markets—specifically psychedelics, hemp-derived botanicals, and harm-reduction platforms.

Strategy: The firm intends to identify category-defining businesses in emerging sectors such as wellness-oriented products and functional consumables. The goal is to apply institutional operational rigor to fragmented, high-growth industries that are moving toward mainstream adoption.

Leadership Team:

• Michael Cam-Phung (Chairman): Currently the VP and Head of Medtech Solutions Strategy at Tekni-Plex, Cam-Phung brings a disciplined healthcare and manufacturing lens to the search.
• Brent Michael Cox (CEO): Founder of Subtext Holdings, Cox has a background in private investment and identifying undervalued assets in niche markets.
• Anthony Michael Naimo (CFO): Managing Director of Procorso and a veteran CFO with experience in high-end consumer brands like Sarah Flint.

Structure: 20 million units at $10.00. Each unit consists of one Class A ordinary share and one-third (1/3) of one redeemable warrant (exercisable at $11.50). The lean warrant coverage reflects the team’s confidence in the underlying sector’s growth potential. BTIG, LLC acted as the sole book-runner.

Would you like me to monitor the opening trade premiums for these two tickers once the market opens?

SPAC SPONSOR CHANGE

SPAC CHANGE IN CONTROL: DUNE ACQUISITION CORP II (IPOD)
Ticker: IPOD (Units: IPODU)
Size: $125 Million
New Sponsor: Collective Acquisition Sponsor LLC

Dune Acquisition Corp II underwent a wholesale leadership and sponsor reset on February 5, 2026, as Collective Acquisition Sponsor LLC took control of the vehicle. The new group purchased 4,475,000 founder shares and 1,000,000 private placement warrants from the original Dune team for $2 million. This “handover” deal includes a high-stakes ticking clock: if a definitive merger agreement isn’t inked by May 7, 2026, the original sponsor retains a right to buy back the interests. The move effectively replaces the Carter Glatt-led team with seasoned investment bankers, signaling a pivot in deal-making strategy as the SPAC approaches its mid-2026 deadlines.

Strategy: While originally targeting SaaS and AI, the installation of Collective Capital Management leadership suggests an expanded focus on tech-enabled services and health-tech. The team is now under pressure to leverage their deep M&A backgrounds to clear the May “Option Date” hurdle and avoid a sponsor clawback.

New Leadership Team:

• Elliot Richmond (CEO & CFO): A Moelis & Company and BofA Merrill Lynch veteran who has advised on over $75 billion in M&A. Richmond previously served as CFO of Ahren Acquisition Corp and brings a heavy-duty “bulge bracket” execution style to the hunt.
• David Bailin (Director): Former Chief Investment Officer of Citi Wealth, where he managed $190 billion in assets. His presence adds significant institutional credibility and a vast network of potential private equity exits.
• Jeremy Sziklay (Director): Co-founder of UNCAP and current CFO of SPARK Neuro. Sziklay provides the digital asset and emerging tech expertise required to vet high-growth targets.
• Carter Glatt (Special Advisor): The outgoing CEO will remain in an advisory capacity to ensure continuity and assist in the transition of target pipelines.

Structure: The transaction transfers a majority of the Class B “founder” equity to the New Sponsor. Crucially, the $2 million purchase price is subject to a Repurchase Right. If no deal is reached by May 7, 2026, the Old Sponsor can reclaim the shares for the same $2 million within a five-day window—essentially putting the new team on a 90-day sprint to prove their value.

DAILY SPAC UPDATE

SPAC VOTE RESULTS
SWSS – CLEAN ENERGY SPECIAL SITUATIONS CORP * Extend to Jun 30, 2027

EXTENSION VOTES
PUCK – GOAL ACQUISITIONS CORP * vote February 6, 2026 -> extend to July 31, 2027

SPAC DEAL & EXTENSION VOTES SET
PUCK – Goal Acquisitions Corp * EXTENSION VOTE SET: Feb 06, 2026 * trust $11.43

OTHER SPAC NEWS
EGHA – EGH ACQUISITION CORP * Investor Deck
CDAQ – COMPASS DIGITAL ACQUISITION CORP * Merger Agreement Amendment
IPOD – DUNE ACQUISITION CORP II * New Sponsor
FTW – EQV VENTURES ACQUISITION CORP * Media Transcript

SEPARATE WARRANTS/RIGHTS
Feb 09: LAUNCHPAD CADENZA ACQUISITION CORP I (LPCV)
Feb 09: CHURCHILL CAPITAL CORP XI (CCXI)
Feb 06: IRON HORSE ACQUISITION II CORP (IRHO)
Feb 06: TGE VALUE CREATIVE SOLUTIONS CORP (BEBE)
Feb 04: LAFAYETTE DIGITAL ACQUISITION CORP I (ZKP)

SPAC MOVERS

YESTERDAY’S TOP SPAC GAINERS
6.8% ~ $ 7.50 | RDAC – RISING DRAGON ACQUISITION CORP (Announced)
5.0% ~ $ 10.38 | TWLV – TWELVE SEAS INVESTMENT CO III (Pre-Deal)
3.3% ~ $ 11.92 | QETA – QUETTA ACQUISITION CORP (Pre-Deal)
1.8% ~ $ 13.63 | PCSC – PERCEPTIVE CAPITAL SOLUTIONS CORP (Pre-Deal)
1.3% ~ $ 12.00 | KVAC – KEEN VISION ACQUISITION CORP (Announced)

YESTERDAY’S TOP SPAC LOSERS
-15.4% ~ $ 10.74 | CCCX – CHURCHILL CAPITAL CORP X (Announced)
-3.7% ~ $ 47.84 | AFJK – AIMEI HEALTH TECHNOLOGY CO LTD (Announced)
-3.1% ~ $ 12.70 | ASPC – ASPAC III ACQUISITION CORP (Announced)
-2.6% ~ $ 10.86 | WLAC – WILLOW LANE ACQUISITION CORP (Announced)
-1.9% ~ $ 11.35 | CEPT – CANTOR EQUITY PARTNERS II INC (Announced)

LATEST SPAC IPO PERFORMANCE
Feb 06 | SSAC – SPACSphere Acquisition Corp.
Feb 05 | CEPS – Cantor Equity Partners VI, Inc.
Feb 05 | HCIC – Hennessy Capital Investment Corp. VIII
Feb 04 | CLBR – Colombier Acquisition Corp. III
Feb 03 | $ 9.96 | IRAB – Iris Acquisition Corp II
Feb 02 | $ 10.02 | WPAC – White Pearl Acquisition Corp
Jan 30 | $ 10.03 | MEVO – M Evo Global Acquisition Corp II
Jan 30 | $ 10.00 | NBRG – Newbridge Acquisition Ltd
Jan 30 | TBD – Muzero Acquisition Corp
Jan 29 | $ 10.00 | UAC – United Acquisition Corp. I
Jan 29 | KII – K2 Capital Acquisition Corp
Jan 29 | $ 9.93 | XSLL – Xsolla SPAC 1
Jan 28 | $ 10.17 | SAAQ – Space Asset Acquisition Corp.
Jan 28 | $ 10.07 | KRAQ – KRAKacquisition Corp
Jan 27 | $ 10.00 | MLAA – Mountain Lake Acquisition Corp. II
Jan 27 | $ 10.04 | GIX – GigCapital9 Corp.
Jan 23 | $ 9.98 | PTOR – Praetorian Acquisition Corp.
Jan 23 | $ 10.02 | LEGO – Legato Merger Corp. IV
Jan 23 | $ 10.10 | ARCI – Archimedes Tech SPAC Partners III Co
Jan 23 | HLXC – Helix Acquisition Corp. III
Jan 22 | $ 10.01 | ALOV – Aldabra 4 Liquidity Opportunity Vehicle, Inc.
Jan 21 | $ 9.99 | XCBE – X3 Acquisition Corp. Ltd.
Jan 16 | $ 10.22 | IEAG – Infinite Eagle Acquisition Corp.
Jan 16 | $ 9.99 | FGII – FG Imperii Acquisition Corp
Jan 14 | $ 10.14 | OIM – OneIM Acquisition Corp.
Jan 09 | $ 9.99 | ZKP – Lafayette Digital Acquisition Corp. I
Jan 08 | $ 10.14 | BBCQ – Bleichroeder Acquisition Corp. II
Jan 07 | $ 9.98 | SORN – Soren Acquisition Corp.