Daily SPAC Update – February 28, 2025

by | Feb 28, 2025

Fifth Era Acquisition $200M IPO. Rigel Resource (RRAC) + Aurous Deal Vote. CMCAF Extension Vote & Non-Redemption Agreement.

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Daily SPAC Update

NEW SPAC IPOs
Feb 27: FERA – Fifth Era Acquisition Corp I $200M IPO
Feb 26: RAC – Rithm Acquisition Corp. $200M IPO

SPAC IPOs keep coming at a steady pace. The market may not be anywhere near its heights, but it is by no means dead.

MERGER VOTES
RRAC – Rigel Resource Acquisition Corp + Aurous
Aurous is a South African gold mining company operating the Blyvoor Mine on Johannesburg’s West Rand. The company is led by an agile leadership team and strong investors, who have built a quality, long-term, profitable mining asset offering steady growth and low costs.

OTHER SPAC NEWS
CMCAF – CAPITALWORKS EMERGING MARKETS ACQUISITION CORP * Non-Redemption Agreement

EXTENSION VOTES
CMCAF – CAPITALWORKS EMERGING MARKETS ACQUISITION CORP * vote February 28, 2025 -> extend from March 3, 2025 to March 3, 2026
CNDA – CONCORD ACQUISITION CORP II * vote February 28, 2025 -> extend from March 3, 2025 (the “Termination Date”) to December 31, 2025

YESTERDAY’S TOP SPAC GAINERS
29.45% ~ $ 7.75 | GLST – GLOBAL STAR ACQUISITION INC (Announced)
9.04% ~ $ 4.10 | BOWN – BOWEN ACQUISITION CORP (Announced)
2.38% ~ $ 12.90 | WINV – WINVEST ACQUISITION CORP (Announced)
2.04% ~ $ 10.99 | ESHA – ESH ACQUISITION CORP (Pre-Deal)
1.83% ~ $ 11.69 | GDST – GOLDENSTONE ACQUISITION LTD (Announced)

YESTERDAY’S TOP SPAC LOSERS
-1.16% ~ $ 11.95 | EVGR – EVERGREEN CORP (Announced)
-.96% ~ $ 11.40 | FTII – FUTURETECH II ACQUISITION CORP (Announced)
-.96% ~ $ 11.40 | DMYY – DMY SQUARED TECHNOLOGY GROUP INC (Pre-Deal)
-.46% ~ $ 10.88 | HYAC – HAYMAKER ACQUISITION CORP 4 (Pre-Deal)
-.43% ~ $ 11.45 | OAKU – OAK WOODS ACQUISITION CORP (Announced)

LATEST SPAC IPO PERFORMANCE
Feb 27 | | FERA – Fifth Era Acquisition Corp I
Feb 26 |  | RAC – Rithm Acquisition Corp.
Feb 12 | $ 10.03 | AACB – Artius II Acquisition Inc.
Feb 12 | $ 10.08 | MAYA – Maywood Acquisition Corp.
Feb 10 | $ 10.04 | ATII – Archimedes Tech SPAC Partners II Co.
Feb 06 | $ 10.01 | KFII – K GROWTH ACQUISITION CORP. II
Jan 29 | $ 10.08 | SVCC – Stellar V Capital Corp.

Recent Analysis

Daily SPAC Update – March 25, 2025

Newbury Street and DT Cloud Extend with $5.7M and $20M in Redemptions. Compass Digital Extension Vote Set. Concord Gets New Auditor. Winvest Delisting.

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