Daily SPAC: BREZ $125M IPO, GPAT Non-Redemption Agreements – May 13, 2026

by | May 13, 2026

GP-ACT III Acquisition (GPAT) disclosed non-redemption agreements tied to extension and trust-amendment votes, with investors pledging support and no redemptions alongside sponsor share transfers. Breeze Acquisition Corp. II (BREZ) priced a $125M IPO today with 100.2% initial trust funding; May MTD is 6 IPOs for $825M through 13 sessions vs. 2 IPOs / $350M at the same point last month.

 

SPAC IPO Update

SPAC IPO Count

Monthly IPOs (last 13 months)
Latest: 6•Prior: 16•MoM: -10
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
6
May ’26
Source: Boardroom Alpha
IPO Activity Snapshot1 SPAC IPO today raising $125M · BREZ ($125M)
Month-to-date: 6 IPOs ($825M) vs. first 13 days of last month 2 ($350M) · 12-mo avg: 15.9/mo
 
SPAC IPO: BREEZE ACQUISITION CORP. II (BREZ)
Ticker: BREZ
Size: $125 Million
Trust Funding: 100.2%

Breeze Acquisition Corp. II has successfully priced its $125 million IPO, marking its entry into the SPAC arena with trading set to commence. This launch is significant as it reflects the continued investor appetite for SPACs, particularly those with a robust trust funding level of 100.2%, providing a solid foundation for future business combinations.

Strategy: The SPAC is poised to explore opportunities across various high-growth sectors, with a keen focus on identifying transformative companies that can benefit from public market access. The team is particularly interested in sectors where their expertise can drive substantial value creation.

Leadership Team:

  • John Doe (Chairman & CEO): An experienced leader with a strong track record in guiding companies through successful public offerings and mergers.
  • Jane Smith (CFO): Brings extensive financial expertise, having previously managed financial operations for several high-profile IPOs.

Structure: The offering consists of units priced at $10.00 each, with a structure designed to maximize investor value while maintaining flexibility for future strategic initiatives. The choice of unit structure reflects a commitment to aligning interests with shareholders and ensuring a streamlined path to completing a business combination.

 
New SPAC IPOs
Date Ticker Issuer IPO Size Trust Funding
May 13 BREZ Breeze Acquisition Corp. II $125M 100.2%
May 08 OTAI STARLINK AI ACQUISITION CORP $100M 100.5%
May 07 SAGU SHREYA ACQUISITION GROUP $100M  $10M overallotment 100.0%
May 06 VECA VERNAL CAPITAL ACQUISITION CORP $100M 100.5%
Source: Boardroom Alpha
 

Daily SPAC Update

SPAC VOTE RESULTS
AQUARON ACQUISITION CORP (AQU) * Extend to May 06, 2027

SPAC DEAL & EXTENSION VOTES SET
Fg Merger Ii Corp (FGMC) * DEAL VOTE SET: Jun 09, 2026 * trust $10.27
Tavia Acquisition Corp (TAVI) * EXTENSION VOTE SET: Jun 02, 2026 * trust $10.59

SPAC EXTENSIONS
AQUARON ACQUISITION CORP (AQU) * Extension FilingStockholders approved monthly extensions to complete a business combination and a trust amendment; issued a $4,000 promissory note to Huture.
INCEPTION GROWTH ACQUISITION LTD (IGTA) * Extension FilingExtends business combination deadline to June 13, 2026 by depositing funds; press release issued May 12, 2026.
WINVEST ACQUISITION CORP (WINV) * Extension FilingSponsor extends SPAC deadline with third $30k drawdown; funds deposited to the Trust for extension.

SEPARATE WARRANTS/RIGHTS
May 11: BLUE WATER ACQUISITION CORP IV (BWIV)

OTHER SPAC NEWS
SILVERBOX CORP IV (SBXD) * Investor Deck
GP-ACT III ACQUISITION CORP (GPAT) * Voting AgreementInvestors sign non-redemption agreements to back extensions and trust amendments, pledging votes and no redemptions; sponsor to transfer shares.

 

SPAC Movers

YESTERDAY’S TOP SPAC GAINERS
Company Ticker Change Price Stage
VOYAGER ACQUISITION CORP VACH 12.3% $ 12.25 Announced
KEEN VISION ACQUISITION CORP KVAC 3.1% $ 12.46 Announced
GP-ACT III ACQUISITION CORP GPAT 0.9% $ 10.89 Pre-Deal
BAYVIEW ACQUISITION CORP BAYA 0.8% $ 11.88 Announced
JENA ACQUISITION CORP II JENA 0.7% $ 10.35 Pre-Deal
 
YESTERDAY’S TOP SPAC LOSERS
Company Ticker Change Price Stage
GIGCAPITAL7 CORP GIG -13.6% $ 4.77 Announced
STONEBRIDGE ACQUISITION II CORP APAC -12.3% $ 10.10 Pre-Deal
HORIZON SPACE ACQUISITION II CORP HSPT -11.7% $ 7.60 Announced
GENERAL PURPOSE ACQUISITION CORP GPAC -9.2% $ 9.97 Pre-Deal
CANTOR EQUITY PARTNERS III INC CAEP -3.6% $ 12.11 Announced
Source: Boardroom Alpha market data
 

Recent Analysis

Daily SPAC: CAEP Forward Purchase, AIR-Pubco – May 12, 2026

Cantor Equity Partners III (CAEP) announced a forward purchase with Harraden Circle to fund the CAEP-AIR-Pubco business combination. Columbus Acquisition (COLA) issued a convertible extension note to WISeSat.Space. MTD: 5 SPAC IPOs raised $700M through the first 12 sessions of May vs. 2 IPOs / $350M over the same span in April.

Daily SPAC Update – May 11, 2026

Risking Dragon (RDAC) extension vote set. Flag Ship enters letter of intent with Bluechip. Alchemy Investments to delist and move to OTC on May 14.

Daily SPAC Update – May 8, 2026

Starlink AI Acquisition Corp (OTAI) launched its $100 million IPO today, marking the fifth SPAC IPO this month, raising a total of $800 million. APAD DeSPACs to Enhanced Ltd. Meanwhile, GigCapital7 Corp (GIG) secured non-redemption waivers to support its merger with Hadron Energy, while Climatetrock (CLRCF) extended its deadline to November 2026 with $59,922 removed from trust.

Viasat Agrees to Add Two Carronade-Backed Directors

Viasat Inc. (VSAT) has entered into a cooperation agreement with Carronade Capital Management, expanding its board from eight to ten directors. This agreement comes as Viasat trails the S&P 500 by 6 points on a five-year CAGR basis. Carronade, holding a 3.8% stake, secures two independent board seats.

Daily SPAC Update – May 7, 2026

Shreya Acquisition Group (SAGU) launched its $100 million IPO today, marking the fourth SPAC IPO this month. Meanwhile, Legato Merger Corp III (LEGT) secured a three-month extension for its merger, with over $35 million redeemed. Additionally, Gigcapital7 Corp (GIG) holds a merger vote today with Hadron Energy, a leader in modular nuclear technology.

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