SPAC Market Update May 20, 2026: PPHP Extends, 5.33M Shares Redeemed at Best SPAC I

SPAC IPO TrackerSPAC Vote Calendar
  • PHP Ventures Acquisition (PPHP) deposited $957.30 to extend its business-combination deadline to .
  • Bayview Acquisition (BAYA) amended its merger agreement to extend the Outside Closing Date to .
  • Best SPAC I Acquisition (BSAA) approved an extension to after 5,333,287 shares were redeemed.
  • Plum Acquisition Corp IV (PLMK) amended CTL Resources merger deadlines for financials, antitrust review and consents.
  • May 2026 SPAC IPO activity reached 12 IPOs totaling $1,874M through .
  • No SPAC IPOs priced on .
  • Energy Transition Special Opportunities (ETSS.U) appointed Gary Julien, Emily Kreps and Sheryl Schwartz to its board effective .

SPAC IPO Update —

No SPAC IPOs priced on ; May MTD now stands at 12 IPOs totaling $1.87B over 20 sessions.

SPAC IPO Count

Monthly IPOs (last 13 months)
Latest: 12•Prior: 16•MoM: -4
22
May ’25
10
Jun ’25
13
Jul ’25
8
Aug ’25
14
Sep ’25
14
Oct ’25
10
Nov ’25
22
Dec ’25
24
Jan ’26
27Peak
Feb ’26
11
Mar ’26
16
Apr ’26
12
May ’26
Source: Boardroom Alpha
IPO Activity SnapshotMonth-to-date: 12 IPOs ($1.87B) vs. first 20 days of last month 6 ($785M) · 12-mo avg: 15.9/mo
New SPAC IPOs
Date Ticker Issuer IPO Size Trust Funding
May 19 AMAN Amanat Acquisition Corp. $75M 100.0%
May 15 GUAC BERTO ACQUISITION CORP II $274M  $41M overallotment 100.0%
May 15 CLSO ENERGY TRANSITION SPECIAL OPPORTUNITIES $150M 100.5%
May 15 IDAC IRON DOME ACQUISITION I CORP $150M 100.5%
May 15 PTAC PATRIOT ACQUISITION CORP $200M 100.5%
May 14 GSRV GSR V ACQUISITION CORP $200M  $30M overallotment 100.0%
May 13 BREZ BREEZE ACQUISITION CORP II $125M  $15M overallotment 100.2%
Source: Boardroom Alpha

Daily SPAC Update —

SPAC VOTE RESULTS
BEST SPAC I ACQUISITION CORP (BSAA) * Extend to 5,333,287 redeemed

SPAC EXTENSIONS
PHP VENTURES ACQUISITION CORP (PPHP) * Extension FilingSPAC deposits $957.30 to extend deadline for initial business combination by one month to .

SEPARATE WARRANTS/RIGHTS
May 22: SHREYA ACQUISITION GROUP (SAGU)
May 20: RRE VENTURES ACQUISITION CORP (RREV)
May 19: VERNAL CAPITAL ACQUISITION CORP (VECA)
May 18: FUTURE MONEY ACQUISITION CORP (FMAC)
May 18: INFLECTION POINT ACQUISITION CORP VI (IPFX)

OTHER SPAC NEWS
PLUM ACQUISITION CORP IV (PLMK) * Merger Agreement AmendmentAmendment extends key deadlines for Plum IV-CTL Resources deal (financials, antitrust, consents).
BAYVIEW ACQUISITION CORP (BAYA) * Merger Agreement AmendmentMerger Agreement amended four times to revise milestones, realign sequence, and extend the Outside Closing Date to .
PERCEPTIVE CAPITAL SOLUTIONS CORP (PCSC) * Investor Deck

SPAC Executive & Director Moves —

SPAC Executive & Director Moves
Company Ticker Moves
ENERGY TRANSITION SPECIAL OPPORTUNITIES ETSS.U
  • Effective , Gary Julien, Emily Kreps, and Sheryl Schwartz were appointed to the Board of Directors for the Company.  (view source)
VALUENCE MERGER CORP I VMCAF
  • On , Zhe Zhang resigned from the Board of Directors of Valuence Merger Corp. I, effective immediately.  (view source)
Source: SEC EDGAR filings via Boardroom Alpha

SPAC Movers —

YESTERDAY’S TOP SPAC GAINERS
Company Ticker Change Price Stage
GENERAL PURPOSE ACQUISITION CORP GPAC 11.8% $ 11.93 Pre-Deal
VOYAGER ACQUISITION CORP VACH 10.5% $ 10.53 Announced
CANTOR EQUITY PARTNERS II INC CEPT 6.5% $ 12.68 Announced
RISING DRAGON ACQUISITION CORP RDAC 4.9% $ 9.04 Announced
RICE ACQUISITION CORP 3 KRSP 3.9% $ 10.86 Pre-Deal
YESTERDAY’S TOP SPAC LOSERS
Company Ticker Change Price Stage
STONEBRIDGE ACQUISITION II CORP APAC -19.2% $ 10.57 Pre-Deal
SIM ACQUISITION CORP I SIMA -4.3% $ 10.76 Pre-Deal
BEST SPAC I ACQUISITION CORP BSAA -2.7% $ 10.70 Announced
REAL ASSET ACQUISITION CORP RAAQ -2.1% $ 10.96 Announced
COLUMBUS ACQUISITION CORP COLA -2.1% $ 10.85 Announced
Source: Boardroom Alpha market data

Frequently Asked Questions

How many SPAC IPOs priced in May 2026 through May 20?
May 2026 SPAC IPO activity reached 12 IPOs totaling $1,874M through .
How did PPHP extend its SPAC deadline?
PHP Ventures Acquisition (PPHP) deposited $957.30 to extend its initial business-combination deadline by one month to .
What happened in the BSAA extension vote?
Best SPAC I Acquisition (BSAA) received approval to extend its deadline to , with 5,333,287 shares redeemed.
What changed in the BAYA merger agreement?
Bayview Acquisition (BAYA) amended its merger agreement for a fourth time and extended the Outside Closing Date to .
Did any SPAC IPOs price on ?
No SPAC IPOs priced on , and today’s SPAC IPO total was $0M.


Recent Analysis

Daily SPAC: VACI-NorthStar, AIIR – May 18, 2026

Viking Acquisition Corp I (VACI) amended its NorthStar merger agreement, revising redemption timing and closing steps and clarifying tax treatment. Separately, CAEP completed its Air DeSPAC as AIIR. May MTD reached 11 SPAC IPOs / $1,775M through 18 days vs. 6 / $785M over the same span last month.

Daily SPAC: GUAC, IDAC IPOs Add $400M in SPAC Capital – May 15, 2026

2 SPAC IPOs priced today, with Berto Acquisition Corp. II (GUAC) raising $250M and Iron Dome Acquisition I Corp (IDAC) raising $150M; IDAC funded trust at 100.5% of par. May MTD totals 9 IPOs / $1,425M through 15 days vs. 5 / $725M over the same span last month. Separately, RAAQ advanced its IQM merger with an F-4 filing.

Daily SPAC: SIMA, CAEP-Air Redemptions – May 14, 2026

SIM Acquisition I (SIMA) lost $242M from trust on its extension approval to Jul. 12, 2027, and Cantor Equity Partners III (CAEP) cleared its Air deal after $234M in redemptions. Separately, GSR V Acquisition (GSRV) priced a $200M IPO, taking May MTD to 7 SPAC IPOs / $1,025M through 14 days.

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