Daily SPAC Update – February 10, 2025

by | Feb 10, 2025

PowerUp Acquisition (PWUP) Deal Vote Approved. Rigel Resource Acquisition (RRAC) Deal Vote Postponed Again.

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Daily SPAC Update

SPAC VOTE RESULTS
PWUP – POWERUP ACQUISITION CORP * Deal Approved * 507,631 redeemed * $5,802,222.33 removed * trust $11.43

OTHER SPAC NEWS
RRAC – RIGEL RESOURCE ACQUISITION CORP * Deal Vote Postponed

SEPARATE WARRANTS/RIGHTS
Feb 11: FG MERGER II CORP (FGMC)

YESTERDAY’S TOP SPAC GAINERS
14.87% ~ $ 4.48 | BOWN – BOWEN ACQUISITION CORP (Announced)
3.14% ~ $ 12.50 | TETE – TECHNOLOGY & TELECOMMUNICATION ACQUISITION CORP (Announced)
2.63% ~ $ 8.19 | RFAC – RF ACQUISITION CORP (Announced)
1.67% ~ $ 12.19 | MSSA – METAL SKY STAR ACQUISITION CORP (Pre-Deal)
1.65% ~ $ 11.69 | GDST – GOLDENSTONE ACQUISITION LTD (Announced)

YESTERDAY’S TOP SPAC LOSERS
-24.03% ~ $ 7.83 | GLST – GLOBAL STAR ACQUISITION INC (Announced)
-11.52% ~ $ 9.75 | WAVS – WESTERN ACQUISITION VENTURES CORP (Announced)
-7.56% ~ $ 11.00 | PLMJ – PLUM ACQUISITION CORP III (Announced)
-2.58% ~ $ 11.69 | CSLM – CSLM ACQUISITION CORP (Announced)
-2.50% ~ $ 10.94 | BLAC – BELLEVUE LIFE SCIENCES ACQUISITION CORP (Announced)

LATEST SPAC IPO PERFORMANCE
Feb 06 | $ 10.02 | KFII – K GROWTH ACQUISITION CORP. II
Jan 29 | $ 10.06 | SVCC – Stellar V Capital Corp.
Jan 28 | $ 9.85 | FGMC – FG Merger II Corp.
Jan 27 | $ 10.04 | DMAA – Drugs Made In America Acquisition Corp.
Jan 21 | $ 10.07 | COLA – Columbus Acquisition Corp
Jan 16 | $ 10.05 | HVII – Hennessy Capital Investment Corp. VII
Jan 14 | $ 10.06 | PLMK – Plum Acquisition Corp, IV
Jan 14 | $ 10.10 | RIBB – Ribbon Acquisition Corp.

Recent Analysis

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.

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.

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