SPAC IPOs Slow as BHAV Acquisition’s IPO Makes it Only 6 for March. Integrated Wellness Extension and Voyager + Veraxa Biotech Deal Approved. Quartzsea Deal Terminated.
SPAC IPO UPDATE
SPAC IPO Count
SPAC IPO: Bhav Acquisition Corp (BHAV)
Ticker: BHAV (Units: BHAVU)
Size: $100 Million
Sponsor: Bhav Capital LLC
Bhav Acquisition Corp priced its $100 million initial public offering on March 18, 2026, and begins trading on the Nasdaq today. This debut marks the entry of a lean, focused vehicle into a stabilized SPAC market, opting for a standard $100 million trust size that suggests a target enterprise value in the $300 million to $500 million range—a “sweet spot” for mid-market private companies seeking efficient public exits.
Strategy: The SPAC is adopting a sector-agnostic mandate but indicates a primary interest in technology-enabled services and disruptive industrial sectors. The management team is expected to leverage a network across North America and India, focusing on businesses with proven unit economics rather than speculative, pre-revenue moonshots.
Leadership Team:- Vikas Shah (Chairman & CEO): An experienced investment professional with a background in cross-border M&A and private equity, particularly within the tech and business services verticals.
- Sanjay Morey (Director): Brings significant private equity pedigree, having previously held senior roles at major investment firms where he oversaw portfolio growth in the healthcare and consumer sectors.
Structure: 10 million units at $10.00. Each unit consists of one Class A ordinary share and one-quarter (1/4) of one redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share at $11.50. The inclusion of a half-warrant provides the typical “sweetener” for IPO investors while keeping the eventual capital structure relatively tight compared to more dilutive structures seen in previous cycles. Cantor Fitzgerald & Co. acted as the sole book-running manager.
| Date | Ticker | Issuer | IPO Size |
|---|---|---|---|
| Mar 19 | BHAV | BHAV Acquisition Corp | $100M |
| Mar 13 | PONO | PONO CAPITAL FOUR INC | $120M |
| Mar 12 | MTAL | METALS ACQUISITION CORP II | $200M $30M overallotment |
| Mar 11 | SUMA | SUMA ACQUISITION CORP | $150M $23M overallotment |
DAILY SPAC UPDATE
SPAC VOTE RESULTS
WELNF – INTEGRATED WELLNESS ACQUISITION CORP * Extend to Sep 16, 2026 * 5,015 redeemed * $64,744 removed * trust $12.91
VACH – VOYAGER ACQUISITION CORP * Deal Approved with VERAXA Biotech
MERGER VOTES
PELI – Pelican Acquisition Corp + Greenland Exploration Limited / March GL Company
Greenland Exploration Limited is a Texas-based entity focused on developing strategic positions in North American energy assets. Through its partnerships and future acquisitions, Greenland aims to deliver long-term shareholder value in a dynamic and evolving energy market. About March GL Company March GL Company, a privately-owned Texas Corporation, entered into an agreement with 80 Mile for drilling to commence at the Jameson oil and gas basin in Greenland. March GL will fund 100% of the costs associated with up to two exploration wells which are designed to delineate the sedimentary structure and energy potential of the Jameson Land Basin. In return, March GL will earn through 80 Mile’s subsidiary company up to 70% interest of the entire basin. March GL Company will be appointed as Field Operations Manager.
CHAC – Crane Harbor Acquisition Corp + Xanadu
Xanadu is a Canadian quantum computing company with the mission to build quantum computers that are useful and available to people everywhere. Founded in 2016, Xanadu has become one of the world’s leading quantum hardware and software companies. The company also leads the development of PennyLane, an open-source software library for quantum computing and application development.
EXTENSION VOTES
UYSC – UY SCUTI ACQUISITION CORP * Vote March 19, 2026 -> extend from April 1, 2026 to October 1, 2026
SEPARATE WARRANTS/RIGHTS
Mar 27: ARMADA ACQUISITION CORP III (AACI)
Mar 23: NEWBRIDGE ACQUISITION LTD (NBRG)
Mar 20: SPACE ASSET ACQUISITION CORP (SAAQ)
Mar 19: GIGCAPITAL9 CORP (GIX)
Mar 19: MOUNTAIN LAKE ACQUISITION CORP II (MLAA)
Mar 18: XSOLLA SPAC 1 (XSLL)
Mar 16: ARCHIMEDES TECH SPAC PARTNERS III CO (ARCI)
Mar 16: PRAETORIAN ACQUISITION CORP (PTOR)
SPAC DEAL TERMINATIONS (Last 10 Days)
2026-03-17: QSEA + Zhejiang Gaokai New Materials Co
OTHER SPAC NEWS
QSEA – QUARTZSEA ACQUISITION CORP * Deal Termination
NPAC – NEW PROVIDENCE ACQUISITION CORP III * Media Transcript
| Company | Ticker | Moves |
|---|---|---|
| PELICAN ACQUISITION CORP | PELI |
|
SPAC MOVERS
| Company | Ticker | Change | Price | Stage |
|---|---|---|---|---|
| VOYAGER ACQUISITION CORP | VACH | 6.9% | $ 12.48 | Announced |
| HORIZON SPACE ACQUISITION II CORP | HSPT | 1.8% | $ 8.40 | Announced |
| WILLOW LANE ACQUISITION CORP | WLAC | 1.8% | $ 11.02 | Announced |
| QUETTA ACQUISITION CORP | QETA | 1.7% | $ 11.50 | Announced |
| TRAILBLAZER MERGER CORP I | TBMC | 1.4% | $ 10.78 | Announced |
| Company | Ticker | Change | Price | Stage |
|---|---|---|---|---|
| CRANE HARBOR ACQUISITION CORP | CHAC | -4.6% | $ 8.17 | Announced |
| AMERICAN EXCEPTIONALISM ACQUISITION CORP A | AEXA | -1.3% | $ 11.12 | Pre-Deal |
| RICE ACQUISITION CORP 3 | KRSP | -0.7% | $ 10.30 | Pre-Deal |
| EMMIS ACQUISITION CORP | EMIS | -0.6% | $ 10.02 | Pre-Deal |
| SPRING VALLEY ACQUISITION CORP III | SVAC | -0.6% | $ 10.18 | Announced |