Roman DBDR Announces Deal with ThomasLloyd Climate Solutions. Legato Merger III PIPE Update. EQ Ventures + Presidio Petrolium Deal Vote.
SPAC IPO UPDATE
SPAC IPO Count
SPAC IPO: TRG Latin America Acquisitions Corp. (TRGS)
Ticker: TRGS (Units: TRGSU)
Size: $200 Million
Sponsor: TRG Latin America Sponsor LLC (The Rohatyn Group)
The Rohatyn Group (TRG) enters the SPAC arena with TRGS, a $200 million vehicle targeting mid-market growth companies across Latin America. TRG is a seasoned emerging markets asset manager with over $6 billion in AUM, positioning this SPAC as a specialized play for investors seeking exposure to the region’s burgeoning fintech, healthcare, and consumer sectors. The firm’s deep local infrastructure in markets like Brazil, Mexico, and Chile provides a distinct sourcing advantage in a geography often overlooked by traditional U.S. blank-check firms.
Strategy: The firm is hunting for businesses with enterprise values between $500 million and $1.5 billion. Key themes include digital transformation, financial inclusion, and supply chain nearshoring—trends currently driving institutional capital toward the LATAM region.
Leadership Team:
- Nicolas Rohatyn (Chairman): Founder and CEO of TRG; former J.P. Morgan executive with decades of experience in emerging markets.
- Roberto Chute (CEO): A partner at TRG focused on private equity investments in Latin America.
Structure: 20 million units at $10.00. Each unit consists of one Class A ordinary share and one-half (1/2) of one redeemable warrant. Citigroup Global Markets Inc. acted as the lead book-running manager.
SPAC IPO: Fortress Value Acquisition Corp. V (FVAV)
Ticker: FVAV (Units: FVAVU)
Size: $250 Million
Sponsor: Fortress Value Acquisition Sponsor V LLC (Fortress Investment Group)
Fortress Investment Group continues its relentless SPAC issuance with FVAV, its fifth “Value” branded vehicle. Priced at $250 million, this launch follows the successful track record of previous Fortress SPACs, including the high-profile merger of MP Materials (MP). Fortress remains one of the few sponsors capable of attracting tier-one institutional interest in a discerning market, leveraging a massive internal credit and private equity platform to underwrite complex deals.
Strategy: Sector-agnostic but value-driven. Fortress typically targets “essential” businesses with resilient cash flows or critical infrastructure components. While the mandate is broad, the team’s history suggests a lean toward industrials, technology, or specialty finance.
Leadership Team:
- Andrew McKnight (CEO): Managing Partner at Fortress with a background in distressed debt and opportunistic credit.
- Daniel N. Bass (CFO): Chief Financial Officer of Fortress Investment Group.
Structure: 25 million units at $10.00. Each unit consists of one Class A ordinary share and one-third (1/3) of one redeemable warrant. Deutsche Bank Securities and J.P. Morgan served as joint book-runners.
SPAC IPO: Apex Tech Acquisition Inc. (TRAD)
Ticker: TRAD (Units: TRADU)
Size: $100 Million
Sponsor: Apex Tech Sponsor LLC
Apex Tech Acquisition priced its $100 million IPO, focusing on the software and tech-enabled services sector. At a leaner $100 million trust, TRAD is optimized for a “bite-sized” acquisition, targeting a high-growth SaaS or enterprise software firm where it can act as a strategic partner rather than just a capital provider. The use of the ticker “TRAD” signals a potential interest in the intersection of trading technology and financial infrastructure.
Strategy: Targeting the “Middle Market Tech” segment. The team is prioritizing companies with $300 million to $600 million enterprise values, focusing on recurring revenue models, high gross margins, and clear paths to profitability.
Leadership Team:
- Jeffery McAnally (CEO): A veteran technology investor and former executive with extensive experience in middle-market M&A.
- Thomas G. Sery (CFO): Experienced finance chief with a background in tech-sector capital raises and public listings.
Structure: 10 million units at $10.00. Each unit consists of one Class A ordinary share and one-half (1/2) of one redeemable warrant. Cantor Fitzgerald & Co. acted as the sole book-running manager.
| Date | Ticker | Issuer | IPO Size |
|---|---|---|---|
| Feb 27 | ILLU | Illumination Acquisition Corp. I | $200M |
| Feb 26 | TRAD | APEX Tech Acquisition Inc. | $100M |
| Feb 26 | FVAV | Fortress Value Acquisition Corp. V | $250M |
| Feb 26 | TRGS | TRG Latin America Acquisitions Corp. | $200M |
| Feb 25 | MZYX | MOZAYYX Acquisition Corp. | $261M |
| Feb 24 | CTAA | CLEARTHINK 1 ACQUISITION CORP | $150M |
| 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 $24M overallotment |
DAILY SPAC UPDATE
SPAC VOTE RESULTS
TETEF – TECHNOLOGY & TELECOMMUNICATION ACQUISITION CORP * Extend to Aug 20, 2026 * 100 redeemed
TBMC – TRAILBLAZER MERGER CORP I * Deal Approved with Cyabra Strategy Ltd.
OTHER SPAC NEWS
FTW – EQV VENTURES ACQUISITION CORP * Voting Agreement
CMCAF – CAPITALWORKS EMERGING MARKETS ACQUISITION CORP * Voting Agreement
CHAC – CRANE HARBOR ACQUISITION CORP * Media Transcript
FTW – EQV VENTURES ACQUISITION CORP * Media Transcript
CEPO – CANTOR EQUITY PARTNERS I INC * Media Transcript
SPAC MOVERS
| Company | Ticker | Return | Price | Stage |
|---|---|---|---|---|
| OAKTREE ACQUISITION CORP III LIFE SCIENCES | OACC | 1.1% | $ 10.70 | Pre-Deal |
| AIMEI HEALTH TECHNOLOGY CO LTD | AFJK | .7% | $ 32.31 | Announced |
| DUNE ACQUISITION CORP II | IPOD | .7% | $ 10.39 | Pre-Deal |
| CANTOR EQUITY PARTNERS II INC | CEPT | .6% | $ 11.52 | Announced |
| BLUE WATER ACQUISITION CORP III | BLUW | .6% | $ 10.37 | Pre-Deal |
| Company | Ticker | Return | Price | Stage |
|---|---|---|---|---|
| EQV VENTURES ACQUISITION CORP | FTW | -5.5% | $ 11.27 | Announced |
| PERCEPTIVE CAPITAL SOLUTIONS CORP | PCSC | -5.0% | $ 12.68 | Pre-Deal |
| TRAILBLAZER MERGER CORP I | TBMC | -3.7% | $ 11.08 | Announced |
| RISING DRAGON ACQUISITION CORP | RDAC | -2.0% | $ 4.90 | Announced |
| AMERICAN EXCEPTIONALISM ACQUISITION CORP A | AEXA | -1.9% | $ 11.14 | Pre-Deal |