Daily SPAC Update – August 15, 2025

by | Aug 15, 2025

Bleichroeder Announces Deal With Merlin for AI-Based Aviation. Investcorp Europe / nexxbuild Deal Terminated. CapitalWorks Gets New Auditor.

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Daily SPAC Update

SPAC DEAL TERMINATIONS (Last 10 Days)
2025-08-14: IVCBF + nexxbuild (note: this is the second SPAC deal in 2-years to terminate for Investcorp Europe)

SPAC DEALS ANNOUNCED
Aug 14 | BACQ – Bleichroeder Acquisition Corp I + Merlin

ABOUT Merlin
Merlin is the leading U.S.-based developer of cost-effective, takeoff-to-touchdown autonomy for both legacy and next-generation airborne systems. Our aircraft-agnostic, AI-powered software is purpose-built for military and civil programs, and is powering an expanding range of missions and aircraft, proven through hundreds of autonomous flights from test facilities across the globe. With $100M+ total in awarded contracts from military customers, Merlin is helping to solve national security challenges through safe, reliable autonomy.

OTHER SPAC NEWS
CMCAF – CAPITALWORKS EMERGING MARKETS ACQUISITION CORP * Auditor Change
IGTA – INCEPTION GROWTH ACQUISITION LTD * Confirm Trust* trust $12.31
BACQ – BLEICHROEDER ACQUISITION CORP I * Investor Deck
BACQ – BLEICHROEDER ACQUISITION CORP I * Merger Agreement

SEPARATE WARRANTS/RIGHTS
Aug 18: FIGX CAPITAL ACQUISITION CORP (FIGX)

NEW SPAC IPOs
Aug 12: MKLY – Mckinley Acquisition Corp $150M IPO
Aug 12: HVMC – Highview Merger Corp. $200M IPO (+underwriter overallotment: $30M)

SPAC Movers

YESTERDAY’S TOP SPAC GAINERS
1.71% ~ $ 10.73 | CHEB – CHENGHE ACQUISITION II CO (Announced)
1.21% ~ $ 11.67 | FORL – FOUR LEAF ACQUISITION CORP (Announced)
1.07% ~ $ 10.41 | BACQ – BLEICHROEDER ACQUISITION CORP I (Announced)
.94% ~ $ 10.69 | CEPT – CANTOR EQUITY PARTNERS II INC (Pre-Deal)
.86% ~ $ 10.17 | WENN – WEN ACQUISITION CORP (Pre-Deal)

YESTERDAY’S TOP SPAC LOSERS
-22.22% ~ $ 7.00 | IROH – IRON HORSE ACQUISITIONS CORP (Announced)
-5.27% ~ $ 12.95 | EMCG – EMBRACE CHANGE ACQUISITION CORP (Announced)
-2.77% ~ $ 10.90 | DYNX – DYNAMIX CORP (Announced)
-2.74% ~ $ 28.77 | CEP – CANTOR EQUITY PARTNERS INC (Announced)
-1.62% ~ $ 10.65 | CEPO – CANTOR EQUITY PARTNERS I INC (Announced)

LATEST SPAC IPO PERFORMANCE
Aug 12 | $ 9.99 | MKLY – McKinley Acquisition Corp
Aug 12 | $ 10.03 | HVMC – Highview Merger Corp.
Aug 08 | $ 10.04 | SSEA – STARRY SEA ACQUISITION CORP
Aug 05 | $ 10.05 | QUMS – Quantumsphere Acquisition Corp
Aug 01 | $ 10.17 | HCMA – HCM III Acquisition Corp.
Jul 31 | $ 9.95 | BCAR – D. Boral ARC Acquisition I Corp.
Jul 30 | $ 10.02 | APAD – A Paradise Acquisition Corp.
Jul 17 | $ 10.03 | PAII – Pyrophyte Acquisition Corp. II
Jul 16 | $ 10.06 | SOCA – Solarius Capital Acquisition Corp.

Recent Analysis

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.

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.

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