5 SPAC IPOs Show SPACs Are Back. Israel Acquisition Extension Approved. Safeguard and Leapfrog Start Separate Trading.
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Today’s SPAC IPOs
SPAC IPO: ARCHIMEDES TECH SPAC PARTNERS III CO (ARCI)
Ticker: ARCI (Units) Size: $200 Million Sponsor: Archimedes Tech SPAC Sponsors III LLC
Archimedes Tech SPAC Partners III Co. priced its $200 million initial public offering on January 22, 2026, and begins trading on the Nasdaq today. This latest vehicle from the Archimedes team signals a continued appetite for the “serial sponsor” model, hitting the market shortly after the team’s de-SPAC of SoundHound AI and the $200 million raise for their second vehicle.
Strategy: The team is zeroing in on high-growth technology sectors, specifically Artificial Intelligence (AI), cloud services, and automotive technology. They are looking for companies with an enterprise value between $500 million and $1.5 billion that are positioned to benefit from the shifting global supply chain and the acceleration of automated “smart” technologies.
Leadership Team:
- Eric Ball (Chairman): A founding General Partner at Impact Venture Capital and former Treasurer at Oracle. He brings a deep bench of experience in enterprise software and corporate finance.
- Long Long (CEO & Director): A ten-year IBM veteran who previously served as Finance Controller for IBM China’s Consulting unit.
Structure: 20 million units at $10.00. Each unit consists of one ordinary share and one-fourth (1/4) of one redeemable warrant ($11.50 strike). The 1/4 warrant structure is a clear nod to the team’s track record, offering less dilution than the standard 1/3 or 1/2 seen in the current market. BTIG acted as the sole book-runner.
SPAC IPO: LEGATO MERGER CORP. IV (LEGO)
Ticker: LEGO U (Units) Size: $200 Million Sponsor: Legato Merger Sponsor IV, LLC
The Crescendo Partners team returns to the well with Legato Merger Corp. IV, pricing its $200 million IPO on January 22 and debuting today. This team is a fixture of the “Old Guard” in the SPAC world, known for their focus on industrial “meat and potatoes” businesses rather than speculative tech.
Strategy: While technically sector-agnostic, the team has a clear mandate for infrastructure, industrials, and heavy technology. They look for undervalued, cash-flow-positive companies that can be scaled through the team’s operational expertise in the construction and engineering sectors.
Leadership Team:
- Gregory Monahan (CEO): Senior Managing Director of Crescendo Partners and a veteran of multiple public company boards.
- Eric Rosenfeld (Chief SPAC Officer): A prolific SPAC pioneer and CEO of Crescendo Partners, having led over a dozen blank-check vehicles.
- Brian Pratt (Chairman): Former CEO of Primoris Services Corp, bringing heavy-duty industrial operational experience.
Structure: 20 million units at $10.00. Each unit consists of one ordinary share and one-third (1/3) of one warrant ($11.50 strike). BTIG led the offering as sole book-runner.
SPAC IPO: HELIX ACQUISITION CORP. III (HLXC)
Ticker: HLXC (Shares) Size: $150 Million Sponsor: Helix Holdings III LLC (Cormorant Asset Management)
In a move that signals high institutional demand, Helix Acquisition Corp. III upsized its offering to $150 million (from $125 million) and begins trading on the Nasdaq today. Backed by the biotech powerhouses at Cormorant Asset Management, this is a pure-play life sciences vehicle.
Strategy: Helix III is laser-focused on the healthcare and life sciences sectors. The team has a stellar “hit rate,” with their first vehicle (Helix I) merging with MoonLake Immunotherapeutics (MLTX), which has since become a top performer in the de-SPAC universe. They seek clinical-stage companies with transformative data.
Leadership Team:
- Bihua Chen (CEO & Chairperson): The founder of Cormorant Asset Management. She is widely considered one of the most influential investors in the biotech space.
- Caleb Tripp (CFO/COO): An experienced finance executive within the Cormorant ecosystem.
Structure: This is a “no-warrant” structure, which is increasingly rare. It consists of 15 million ordinary shares at $10.00. This cleaner structure is typically reserved for top-tier sponsors with high investor conviction. Leerink Partners and Oppenheimer & Co. served as joint book-runners.
SPAC IPO: XSOLLA SPAC 1 (XSLL)
Ticker: XSLL U (Units) Size: $250 Million Sponsor: Xsolla SPAC 1 Sponsor LLC
Xsolla SPAC 1 marks a major debut for the video game commerce giant Xsolla, debuting its $250 million IPO on the Nasdaq today. This is a strategic vehicle aimed at consolidating the fragmented gaming infrastructure and fintech landscape.
Strategy: The SPAC intends to hunt for companies in the Video Games, FinTech, and AdTech sectors with enterprise values between $500 million and $1 billion. Leveraging Xsolla’s global payment infrastructure, they want to acquire a “platform” company that supports the creator economy and digital commerce.
Leadership Team:
- Aleksandr Agapitov (Chairman): The founder of Xsolla and a visionary in the gaming payment space.
- Dmitry Burkovskiy (CEO): Current Chief Investment Officer at Xsolla with a deep background in gaming M&A.
Structure: 25 million units at $10.00. Each unit includes one share and one-third (1/3) of a warrant. D. Boral Capital (formerly EF Hutton) acted as the lead manager.
SPAC IPO: PRAETORIAN ACQUISITION CORP. (PTOR)
Ticker: PTORU (Units) Size: $220 Million Sponsor: Praetorian Acquisition Sponsor LLC
Praetorian Acquisition Corp. priced its $220 million IPO on January 22 and hits the Nasdaq today, joining the 2026 wave of AI-focused investment vehicles.
Strategy: The team is pursuing a “modernization” play, targeting traditional sectors that can be transformed by AI and automation. They are looking for businesses with legacy operations that have massive upside potential through the implementation of machine learning and robotic process automation.
Leadership Team:
- Justin Di Rezze, M.D. (CEO): Founder of Theoria Medical, bringing a unique blend of clinical and entrepreneurial experience.
- Peter Ondishin (CFO): A SPAC veteran who served as CFO for the Inflection Point series, which recently closed a successful merger with USA Rare Earth.
Structure: 22 million units at $10.00. Each unit consists of one share and one-third (1/3) of a warrant. Clear Street LLC acted as the sole book-running manager.
DAILY SPAC UPDATE
SPAC VOTE RESULTS
ISRLF – ISRAEL ACQUISITIONS CORP * Extend to Jan 18, 2027 * 295,860 redeemed * $3,683,457 removed * trust $12.45
OTHER SPAC NEWS
BAYA – BAYVIEW ACQUISITION CORP * Merger Agreement Amendment
SEPARATE WARRANTS/RIGHTS
Jan 26: SAFEGUARD ACQUISITION CORP (SAC)
Jan 26: LEAPFROG ACQUISITION CORP (LFAC)
Jan 23: SILVERBOX CORP V (SBXE)
Jan 23: GENERAL PURPOSE ACQUISITION CORP (GPAC)
Jan 20: SC II ACQUISITION CORP (SCII)
Jan 20: ITHAX ACQUISITION CORP III (ITHA)
SPAC MOVERS
YESTERDAY’S TOP SPAC GAINERS
6.8% ~ $ 17.37 | CCCX – CHURCHILL CAPITAL CORP X (Announced)
3.0% ~ $ 58.90 | AFJK – AIMEI HEALTH TECHNOLOGY CO LTD (Announced)
1.7% ~ $ 11.77 | AEXA – AMERICAN EXCEPTIONALISM ACQUISITION CORP A (Pre-Deal)
1.2% ~ $ 10.61 | COLA – COLUMBUS ACQUISITION CORP (Announced)
1.2% ~ $ 11.22 | PELI – PELICAN ACQUISITION CORP (Announced)
YESTERDAY’S TOP SPAC LOSERS
-9.4% ~ $ 12.55 | ASPC – ASPAC III ACQUISITION CORP (Announced)
-2.8% ~ $ 7.01 | RDAC – RISING DRAGON ACQUISITION CORP (Announced)
-2.2% ~ $ 12.64 | CEPT – CANTOR EQUITY PARTNERS II INC (Announced)
-2.1% ~ $ 12.25 | WLAC – WILLOW LANE ACQUISITION CORP (Announced)
-1.2% ~ $ 11.85 | KVAC – KEEN VISION ACQUISITION CORP (Announced)
LATEST SPAC IPO PERFORMANCE
Jan 23 | HLXC – Helix Acquisition Corp. III
Jan 23 | XSLL – Xsolla SPAC 1
Jan 23 | LEGO – Legato Merger Corp. IV
Jan 23 | PTOR – Praetorian Acquisition Corp.
Jan 23 | ARCI – Archimedes Tech SPAC Partners III Co
Jan 22 | ALOV – Aldabra 4 Liquidity Opportunity Vehicle, Inc.
Jan 21 | $ 9.99 | XCBE – X3 Acquisition Corp. Ltd.
Jan 16 | $ 10.23 | IEAG – Infinite Eagle Acquisition Corp.
Jan 16 | $ 9.99 | FGII – FG Imperii Acquisition Corp
Jan 14 | $ 10.10 | OIM – OneIM Acquisition Corp.
Jan 09 | $ 10.00 | 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 | $ 10.00 | BIII – Black Spade Acquisition III Co
Jan 06 | $ 9.99 | ARTC – Art Technology Acquisition Corp.