Daily SPAC Update – January 22, 2026

by | Jan 22, 2026

Aldabra 4 Liquidity Opportunity Vehicle Upsized $261 Million IPO. EGH Acquisition Corp + Hecate Energy Group Deal Announced. Keen Vision Extension Vote. Trailblazer Deal Vote Set.

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DAILY SPAC UPDATE

SPAC IPO: ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC. (ALOVU)
Ticker: ALOVU (Units) | Size: $261 Million | Sponsor: Aldabra 4 LOV Sponsor Partnership, LLC

Aldabra 4 Liquidity Opportunity Vehicle, Inc. priced its upsized $261 million initial public offering on January 21, 2026, and begins trading on the Nasdaq Global Market today, January 22. Based in Miami, Florida, and incorporated in the Cayman Islands, this vehicle marks a significant 2026 entry for the veteran Terrapin Partners team.

Strategy: Aldabra 4 is a sector-agnostic vehicle with a broad mandate to identify a target business with an enterprise value between $500 million and $2 billion. While the team is not limited to a specific industry, they intend to leverage their history in consumer, industrial, and technology sectors. Their focus remains on “liquidity-ready” companies—businesses with stable cash flows and strong management teams that require the public currency and capital structure of a SPAC to execute the next phase of their growth or consolidation strategy.

Leadership Team: The SPAC is anchored by the founders of Terrapin Partners, who have successfully navigated multiple SPAC cycles since the mid-2000s:

Nathan Leight (Chairman): A pioneer in the SPAC asset class and co-founder of Terrapin Partners. He has served as Chairman for numerous previous vehicles, including Aldabra 1 (which merged with Great Lakes Dredge & Dock) and Terrapin 3 (which merged with Yatra Online).

Neal Yanofsky (CEO & Director): Brings significant operational depth, having previously served as International President of Dunkin’ Brands and as an officer at Fidelity Investments.

Irina O’Berry (CFO): A seasoned financial executive with extensive experience in the financial oversight and reporting requirements of complex investment vehicles.

Structure: The offering consists of 26.1 million units priced at $10.00. Each unit consists of one Class A ordinary share and one-third (1/3) of one redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share at $11.50. This structure reflects a “tight” warrant coverage often seen with repeat sponsors, reducing potential future dilution compared to the 1/2 or full warrant structures of less established teams. Cantor Fitzgerald & Co. acted as the sole book-running manager, with Ladenburg Thalmann and The Benchmark Company serving as co-managers.

SPAC VOTE RESULTS
BRAC – BROAD CAPITAL ACQUISITION CORP * Extend * 94,247 redeemed * $1,170,548 removed * trust $12.42

SPAC DEALS ANNOUNCED
Jan 22 | EGHA – EGH Acquisition Corp + Hecate Energy Group

Hecate Energy was founded in 2012 by a team of energy industry veterans and has successfully developed five GW of projects to construction or operations to-date. Hecate believes in establishing beneficial, sustainable, and collaborative partnerships with the host communities where its projects are located and tailors each energy project it develops to better meet the needs of project stakeholders. Since its founding, Hecate has entered over 50 power purchase agreements (PPAs) and similar offtake contracts exceeding six GW of capacity with 24 counterparties as well as projects that are selling through wholesale power markets in the United Stated. Hecate has developed over five GW of projects that are now under construction or in operation, representing over $6 billion of energy investments. Hecate has an active development pipeline of over 47 GW of power projects.

Jan 20 | FVN – Future Vision II Acquisition Corp + MicroTouch Technology Inc

SPAC DEAL & EXTENSION VOTES SET
TBMC – Trailblazer Merger Corp I * DEAL VOTE SET: Feb 18, 2026 * trust $11.98

EXTENSION VOTES
KVAC – KEEN VISION ACQUISITION CORP * vote January 22, 2026 -> extend from January 27, 2026 to July 27, 2026

OTHER SPAC NEWS
CHAC – CRANE HARBOR ACQUISITION CORP * Media Transcript
CAEP – CANTOR EQUITY PARTNERS III INC * Media Transcript

SEPARATE WARRANTS/RIGHTS
Jan 26: SAFEGUARD ACQUISITION CORP (SAC)
Jan 26: LEAPFROG ACQUISITION CORP (LFAC)
Jan 20: SC II ACQUISITION CORP (SCII)
Jan 20: ITHAX ACQUISITION CORP III (ITHA)

NEW SPAC IPOs
Jan 22: ALOV – Aldabra 4 Liquidity Opportunity Vehicle, Inc. $261M IPO
Jan 21: XCBE – X3 Acquisition Corp. Ltd. $200M IPO
Jan 16: FGII – Fg Imperii Acquisition Corp $200M IPO
Jan 16: IEAG – Infinite Eagle Acquisition Corp. $300M IPO
Jan 14: OIM – Oneim Acquisition Corp. $250M IPO

SPAC MOVERS

YESTERDAY’S TOP SPAC GAINERS
22.2% ~ $ 57.20 | AFJK – AIMEI HEALTH TECHNOLOGY CO LTD (Announced)
1.4% ~ $ 16.26 | CCCX – CHURCHILL CAPITAL CORP X (Announced)
1.1% ~ $ 11.09 | PELI – PELICAN ACQUISITION CORP (Announced)
.7% ~ $ 10.88 | RTAC – RENATUS TACTICAL ACQUISITION CORP I (Pre-Deal)
.7% ~ $ 10.06 | CHECU – CHENGHE ACQUISITION III CO (Pre-Deal)

YESTERDAY’S TOP SPAC LOSERS
-4.0% ~ $ 13.85 | ASPC – ASPAC III ACQUISITION CORP (Announced)
-3.9% ~ $ 7.21 | RDAC – RISING DRAGON ACQUISITION CORP (Announced)
-2.7% ~ $ 12.93 | CEPT – CANTOR EQUITY PARTNERS II INC (Announced)
-1.7% ~ $ 12.51 | WLAC – WILLOW LANE ACQUISITION CORP (Announced)
-1.2% ~ $ 11.00 | CHAC – CRANE HARBOR ACQUISITION CORP (Announced)

LATEST SPAC IPO PERFORMANCE
Jan 22 | ALOV – Aldabra 4 Liquidity Opportunity Vehicle, Inc.
Jan 21 | XCBE – X3 Acquisition Corp. Ltd.
Jan 16 | $ 10.00 | FGII – FG Imperii Acquisition Corp
Jan 16 | $ 10.21 | IEAG – Infinite Eagle Acquisition Corp.
Jan 14 | $ 10.09 | OIM – OneIM Acquisition Corp.
Jan 09 | $ 10.01 | ZKP – Lafayette Digital Acquisition Corp. I
Jan 08 | $ 10.06 | BBCQ – Bleichroeder Acquisition Corp. II
Jan 07 | $ 9.96 | SORN – Soren Acquisition Corp.
Jan 06 | $ 9.98 | ARTC – Art Technology Acquisition Corp.
Jan 06 | $ 10.00 | BIII – Black Spade Acquisition III Co
Dec 23 | $ 9.98 | SVAQ – Silicon Valley Acquisition Corp.
Dec 23 | $ 10.02 | SCPQ – Social Commerce Partners Corp

Recent Analysis

Daily SPAC Update – January 21, 2026

X3 Acquisition Corp IPO. Broad Capital Acquisition and Columbus Acquisition Extensions Approved. Future Vision II Announces MicroTouch Technology Deal. Inception Growth Sets Extension Vote.

Daily SPAC Update – January 14, 2026

OneIM $250 Million SPAC IPO. New Deals Announced for Digital Asset Acquisition Corp + Old Glory Holding Co and D Boral Arc Acquisition I Corp + Exascale Labs Inc.

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