Daily SPAC Update – Feb 1, 2024

by | Feb 1, 2024

Daily SPAC Update for Feb 1, 2024. DMAQ becomes TRUG. KRNL extension vote. GLLI deal announced.NRAC and ONYX approve extensions.

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Daily SPAC Update

DMAQ -> TRUG on Feb 01

GLLI + Alps Global Holding

KRNL – KERNEL GROUP HOLDINGS INC * extend 6 monthly options to Aug 5, 2024

NRAC – NORTHERN REVIVAL ACQUISITION CORP * Extend to Aug 04, 2024 * 184,934 redeemed
ONYX – ONYX ACQUISITION CO I * Extend to Nov 05, 2024 * 678,865 redeemed * trust $11.13

FLME – FLAME ACQUISITION CORP * Deal Vote Set: Feb 12, 2024 * trust $10.41
RMGC – RMG ACQUISITION CORP III * Extension Vote Set: Feb 07, 2024 * trust $10.00

18.40% ~ $ 5.02 | ATAK – Aurora Technology Acquisition Corp. (Announced)
17.06% ~ $ 10.50 | LCAA – L Catterton Asia Acquisition Corp (Announced)
16.15% ~ $ 10.50 | CHEA – Chenghe Acquisition Co. (Announced)
14.00% ~ $ 9.69 | OXUS – Oxus Acquisition Corp. (Announced)
4.72% ~ $ 11.32 | FHLT – Future Health ESG Corp. (Pre-Deal)

-34.77% ~ $ 5.14 | NUBI – Nubia Brand International Corp. (Announced)
-8.63% ~ $ 11.75 | OTEC – OceanTech Acquisitions I Corp. (Announced)
-8.51% ~ $ 5.27 | LGST – Semper Paratus Acquisition Corp (Announced)
-6.52% ~ $ 14.05 | MCAF – Mountain Crest Acquisition Corp. IV (Announced)
-5.45% ~ $ 10.40 | APAC – StoneBridge Acquisition Corp. (Announced)


For most, the SPAC boom is long-dead and was unlikely to ever return to the levels of irrational exuberance seen during peak times. Still, the SEC has long wanted to layer on additional regulation to ensure that it doesn’t happen. On Jan 24 the SEC commission, chaired by Gary Gensler, voted 3-2 to adopt the new rules which will make SPACs feel a lot more like traditional IPOs. For more on the new rules and the market’s reaction, below are some good reads.

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