Daily SPAC Update – April 16, 2024

by | Apr 16, 2024

AEAE, GAQ, and TLGY Extension Votes. AQU, FNVT, VSAC Extension Votes Set. TRTL Delays a Day. DJT Drops (Again).

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Daily SPAC Update

DJT DeSPAC Update
For those following along, a good article in the WSJ today tracking the DWAC SPAC through to today, including its latest big drop of -18% today.

EXTENSION VOTES
AEAE – ALTENERGY ACQUISITION CORP * vote April 16, 2024 -> extend to May 2, 2025
GAQ – GENERATION ASIA I ACQUISITION LTD * vote April 16, 2024 -> extend to July 23, 2025
TLGY – TLGY ACQUISITION CORP * 7 monthly extensions approved on Oct 17, 2023

SPAC VOTES SET
AQU – AQUARON ACQUISITION CORP * Extension Vote Set: Apr 30, 2024 * trust $11.04
FNVT – FINNOVATE ACQUISITION CORP * Extension Vote Set: May 02, 2024 * trust $10.92
VSAC – VISION SENSING ACQUISITION CORP * Extension Vote Set: Apr 30, 2024 to Nov 03, 2024 * trust $11.53
TRTL – TORTOISEECOFIN ACQUISITION CORP III * Vote delayed to April 19, 2024

YESTERDAY’S TOP SPAC GAINERS
10.20% ~ $ 12.42 | NVAC – NorthView Acquisition Corp (Announced)
4.12% ~ $ 12.12 | PTWO – Pono Capital Two, Inc. (Announced)
1.44% ~ $ 11.28 | AACI – Armada Acquisition Corp. I (Announced)
1.35% ~ $ 11.25 | ACAC – Acri Capital Acquisition Corp (Announced)
1.24% ~ $ 11.44 | CLRC – ClimateRock (Announced)

YESTERDAY’S TOP SPAC LOSERS
-13.92% ~ $ 7.05 | LGVC – LAMF Global Ventures Corp. I (Announced)
-5.29% ~ $ 10.03 | PEGR – Project Energy Reimagined Acquisition Corp. (Announced)
-4.17% ~ $ 8.05 | DECA – Denali Capital Acquisition Corp. (Announced)
-3.80% ~ $ 12.41 | ARRW – Arrowroot Acquisition Corp. (Announced)
-2.36% ~ $ 11.19 | AEAE – AltEnergy Acquisition Corp (Announced)

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.

Daily SPAC: BREZ $125M IPO, GPAT Non-Redemption Agreements – 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.

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