Daily SPAC Update – January 16, 2025

by | Jan 16, 2025

LATG DeSPACs to Femco Steel Technology (KBSX). Plum Acquisition III Extension Vote. RRAC and EVGR Extension Votes Set. NOEM Separate Trading on Jan 16.

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Daily SPAC Update

DeSPACs
Jan 16: LATG DeSPAC to Femco Steel Technology Co., Ltd (KBSX)

SPAC DEAL & EXTENSION VOTES SET
RRAC – Rigel Resource Acquisition Corp * DEAL VOTE SET: Feb 04, 2025 * trust $11.52
EVGR – Evergreen Corp * EXTENSION VOTE SET: Jan 28, 2025 * trust $11.95

EXTENSION VOTES
PLMJ – PLUM ACQUISITION CORP III * vote January 16, 2025 -> extend from January 30, 2025 to July 30, 2025

SEPARATE WARRANTS/RIGHTS
NOEM on Jan 16

NEW SPAC IPOs
Jan 14: PLMK – Plum Acquisition Corp, Iv $150M IPO
Jan 14: RIBB – Ribbon Acquisition Corp. $50M IPO

YESTERDAY’S TOP SPAC GAINERS
40.00% ~ $ 11.90 | LATG – CHENGHE ACQUISITION I CO (DeSPAC)
4.03% ~ $ 11.62 | PLMJ – PLUM ACQUISITION CORP III (Pre-Deal)
2.98% ~ $ 12.10 | CSLM – CSLM ACQUISITION CORP (Announced)
1.51% ~ $ 11.99 | WAVS – WESTERN ACQUISITION VENTURES CORP (Announced)
1.46% ~ $ 11.80 | MSSA – METAL SKY STAR ACQUISITION CORP (Pre-Deal)

YESTERDAY’S TOP SPAC LOSERS
-6.91% ~ $ 11.92 | BRAC – BROAD CAPITAL ACQUISITION CORP (Announced)
-3.07% ~ $ 11.37 | GLST – GLOBAL STAR ACQUISITION INC (Announced)
-2.53% ~ $ 11.96 | AIMAU – AIMFINITY INVESTMENT CORP I (Announced)
-2.01% ~ $ 12.00 | WINV – WINVEST ACQUISITION CORP (Announced)
-1.67% ~ $ 12.33 | KACL – KAIROUS ACQUISITION CORP LTD (Announced)

LATEST SPAC IPO PERFORMANCE
Jan 14 | $ 10.01 | RIBB – Ribbon Acquisition Corp.
Jan 14 | $ 10.04 | PLMK – Plum Acquisition Corp, IV
Jan 07 | $ 10.05 | CEPO – Cantor Equity Partners I, Inc.
Dec 23 | $ 10.01 | TDAC – Translational Development Acquisition Corp.
Dec 19 | $ 10.10 | RANG – Range Capital Acquisition Corp.

Recent Analysis

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.

Daily SPAC Update – May 7, 2026

Shreya Acquisition Group (SAGU) launched its $100 million IPO today, marking the fourth SPAC IPO this month. Meanwhile, Legato Merger Corp III (LEGT) secured a three-month extension for its merger, with over $35 million redeemed. Additionally, Gigcapital7 Corp (GIG) holds a merger vote today with Hadron Energy, a leader in modular nuclear technology.

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