Daily SPAC Update – February 23, 2026

by | Feb 23, 2026

Real Asset Acquisition Deal with Quantum Computer Company IQM. Spring Valley II + Eagle Energy Metals Deal Vote.

DAILY SPAC UPDATE

SPAC DEALS ANNOUNCED
Feb 23 | RAAQ – Real Asset Acquisition Corp + IQM US LLC

ABOUT IQM US LLC
IQM Finland Oy (“IQM”, “IQM Quantum Computers”, “Company”) is a global leader in superconducting quantum computers. IQM provides both on-premises full-stack quantum computers and a cloud platform to access its systems. IQM customers include leading high-performance computing centres, research laboratories, universities, and enterprises that require full access to quantum hardware and software. IQM has over 300 employees, with headquarters in Finland and a global presence including France, Germany, Italy, Japan, Poland, Saudi Arabia, Spain, Singapore, South Korea, Taiwan, UK and the United States.

MERGER VOTES
SVII – Spring Valley Acquisition Corp II Eagle Energy Metals Corp.
Eagle Energy Metals Corp. is a next-generation nuclear energy company that combines domestic uranium exploration with proprietary Small Modular Reactor (SMR) technology. The Company holds the rights to the largest mineable, measured and indicated uranium deposit in the United States, located in southeastern Oregon. This includes the Aurora deposit, with over 50 million pounds4 of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the project’s overall resource inventory. By integrating advanced SMR technology with a sizeable uranium asset, Eagle is building an integrated nuclear platform positioned to help restore American leadership in the global nuclear industry.

OTHER SPAC NEWS
RAAQ – REAL ASSET ACQUISITION CORP * Investor Deck
RAAQ – REAL ASSET ACQUISITION CORP * Merger Agreement

SEPARATE WARRANTS/RIGHTS
Feb 25: D BORAL ACQUISITION I CORP (DBCA)
Feb 24: IRIS ACQUISITION CORP II (IRAB)
Feb 24: WHITE PEARL ACQUISITION CORP (WPAC)

SPAC LIQUIDATIONS
Cartica Acquisition Corp (CITE)-> Liquidation on Feb 25

SPAC DEAL TERMINATIONS (Last 10 Days)
2026-02-17: POLE + StoreDot

SPAC Executive & Director Moves
Company Ticker Moves
MILUNA ACQUISITION CORP MMTX
  • On February 17, 2026, Mei Chi Tsai resigned from her position on the board of directors of Miluna Acquisition Corp.  (view source)
Source: SEC EDGAR filings via Boardroom Alpha

SPAC MOVERS

YESTERDAY’S TOP SPAC GAINERS
Company Ticker Return Price Stage
AIMEI HEALTH TECHNOLOGY CO LTD AFJK 10.1% $ 37.94 Announced
DT CLOUD STAR ACQUISITION CORP DTSQ 1.5% $ 11.06 Announced
ASPAC III ACQUISITION CORP ASPC 1.0% $ 12.30 Announced
ESH ACQUISITION CORP ESHA 1.0% $ 12.05 Announced
HELIX ACQUISITION CORP III HLXC .9% $ 10.25 Pre-Deal
YESTERDAY’S TOP SPAC LOSERS
Company Ticker Return Price Stage
HORIZON SPACE ACQUISITION II CORP HSPT -3.6% $ 10.85 Announced
PERCEPTIVE CAPITAL SOLUTIONS CORP PCSC -3.1% $ 13.33 Pre-Deal
RISING DRAGON ACQUISITION CORP RDAC -2.8% $ 4.59 Announced
LEGATO MERGER CORP III LEGT -2.3% $ 10.96 Announced
UNITED ACQUISITION CORP I UAC -1.7% $ 9.85 Pre-Deal
Source: Boardroom Alpha market data

SPAC IPO UPDATE

SPAC IPO Count

Monthly IPOs (last 13 months)
Latest: 21Prior: 24MoM: -3
8
Feb ’25
3
Mar ’25
12
Apr ’25
22
May ’25
10
Jun ’25
13
Jul ’25
8
Aug ’25
14
Sep ’25
14
Oct ’25
10
Nov ’25
22
Dec ’25
24Peak
Jan ’26
21
Feb ’26
Source: Boardroom Alpha
New SPAC IPOs
Date Ticker Issuer IPO Size
Feb 19 AACO Abony Acquisition Corp. I $200M  $30M overallotment
Feb 19 ACAA Averin Capital Acquisition Corp. $250M
Feb 19 PALO PALOMA ACQUISITION CORP I $150M
Feb 18 AACI ARMADA ACQUISITION CORP III $225M
Feb 13 RFAM RF ACQUISITION CORP III $100M
Feb 13 WLII WILLOW LANE ACQUISITION CORP II $125M  $19M overallotment
Source: Boardroom Alpha

Recent Analysis

Daily SPAC Update – February 18, 2026

Armada Acquisition III IPOs for $225 Million. Horizon Acquisition II SL Bio Deal and Extension Approved. Andretti Acquisition II Deal with StoreDot Terminated.

Daily SPAC Update – February 13, 2026

RF Acquisition III and Willow Lane II IPO. Goal Acquisitions and Inception Growth SPAC Extensions Approved. Haymaker 4 and Inflection Point IV Set Deal Votes for March. Aura Fat Projects LOI.

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