Daily SPAC Update – January 27, 2026

by | Jan 27, 2026

GigCapital 9 and Mountain Lake Acquisition II SPAC IPOs. Keen Vision Extension Approved. Constellation Acquisition Extension Vote Today. Black Spade II and Hall Chadwick Separate Trading.

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SPAC IPOs

SPAC IPO: GIGCAPITAL9 CORP. (GIX)
Ticker: GIX (Units: GIXXU)   Size: $220 Million   Sponsor: GigAcquisitions9 Corp. (GigCapital Global)

GigCapital9 Corp. priced its $220 million initial public offering on January 26, 2026, and begins trading on the Nasdaq today. As the ninth vehicle from serial sponsor Avi Katz and the GigCapital Global team, this launch underscores their “Private-to-Public Equity (PPE)™” methodology. The team remains one of the most prolific in the space, coming off the recent $220 million raise for GigCapital8 in late 2025 and the pending merger of GigCapital7 with Hadron.

Strategy: The SPAC is targeting high-growth sectors within Aerospace and Defense (A&D) and Technology, Media, and Telecommunications (TMT). Specific areas of interest include cybersecurity, secured communications, quantum-based command and control systems, and AI/machine learning applications.

Leadership Team:

  • Dr. Avi S. Katz (Chairman & CEO): A veteran SPAC entrepreneur and founder of GigCapital Global. He previously founded GigPeak, which was acquired by Integrated Device Technology (IDT) for $250 million.
  • Christine M. Marshall (CFO): Serves as the Chief Financial Officer and has been a key member of the leadership team across multiple GigCapital vehicles.

Structure: 22 million units at $10.00. Each unit consists of one ordinary share and one right to receive one-fifth (1/5) of one Class A ordinary share upon the completion of a business combination. The use of rights instead of warrants is a hallmark of recent GigCapital deals, designed to reduce complex derivative accounting while offering a fixed path to equity for investors. D. Boral Capital LLC acted as the sole book-runner.

SPAC IPO: MOUNTAIN LAKE ACQUISITION CORP. II (MLAA)
Ticker: MLAA (Units: MLAAU)   Size: $313.2 Million   Sponsor: Mountain Lake Acquisition Sponsor LLC

Mountain Lake Acquisition Corp. II priced an upsized $313.2 million initial public offering on January 26, 2026, and hits the Nasdaq today. This second vehicle follows the successful $230 million debut of their first SPAC in late 2024, which recently moved toward a $675 million business combination with Avalanche Treasury Co. The significant upsizing from the initial $250 million target reflects strong investor confidence in the team’s ability to execute in the current market.

Strategy: While broadly focused, the team intends to target an established business of scale with a defensive market position and long-term growth potential. They are leveraging their experience in financial services and strategic advisory to find “undervalued” opportunities that are ready for the public markets.

Leadership Team:

  • Paul Grinberg (CEO & Chairman): The Chairman of Axos Financial (NYSE: AX) and a seasoned executive with deep experience in corporate governance and capital markets.
  • Douglas Horlick (CFO): Founder of Estancia LLC and a former Managing Director at Goldman Sachs. He brings over 25 years of experience in institutional sales and strategic consulting.

Structure: 31.32 million units at $10.00. Each unit consists of one Class A ordinary share and one-half (1/2) of one redeemable warrant ($11.50 strike). The 1/2 warrant structure remains relatively generous for a “Series II” vehicle, providing a sweetening component for the larger capital raise. BTIG acted as the sole book-running manager.

DAILY SPAC UPDATE

SPAC VOTE RESULTS
KVAC – KEEN VISION ACQUISITION CORP * Extend to Jul 27, 2026 * 3,781,900 redeemed

EXTENSION VOTES
CSTAF – CONSTELLATION ACQUISITION CORP I * vote January 27, 2026 -> extend to January 29, 2027

SEPARATE WARRANTS/RIGHTS
Jan 29: BLACK SPADE ACQUISITION III CO (BIII)
Jan 27: HALL CHADWICK ACQUISITION CORP (HCAC)
Jan 26: NEW AMERICA ACQUISITION I CORP (NWAX)
Jan 26: SAFEGUARD ACQUISITION CORP (SAC)
Jan 26: LEAPFROG ACQUISITION CORP (LFAC)

OTHER SPAC NEWS
ALIS – CALISA ACQUISITION CORP * Non-Binding LOI
CAEP – CANTOR EQUITY PARTNERS III INC * Media Transcript
CCIX – CHURCHILL CAPITAL CORP IX * Media Transcript
DMYY – DMY SQUARED TECHNOLOGY GROUP INC * Media Transcript
LOKV – LIVE OAK ACQUISITION CORP V * Media Transcript

SPAC MOVERS

YESTERDAY’S TOP SPAC GAINERS
1.4% ~ $ 14.20 | PCSC – PERCEPTIVE CAPITAL SOLUTIONS CORP (Pre-Deal)
1.3% ~ $ 12.00 | KVAC – KEEN VISION ACQUISITION CORP (Announced)
1.1% ~ $ 10.08 | ALUB – ALUSSA ENERGY ACQUISITION CORP II (Pre-Deal)
1.0% ~ $ 10.21 | OYSE – OYSTER ENTERPRISES II ACQUISITION CORP (Pre-Deal)
.7% ~ $ 10.07 | ALIS – CALISA ACQUISITION CORP (Pre-Deal)

YESTERDAY’S TOP SPAC LOSERS
-11.9% ~ $ 12.33 | ASPC – ASPAC III ACQUISITION CORP (Announced)
-4.1% ~ $ 12.24 | TBMC – TRAILBLAZER MERGER CORP I (Announced)
-4.1% ~ $ 16.64 | CCCX – CHURCHILL CAPITAL CORP X (Announced)
-2.6% ~ $ 7.12 | RDAC – RISING DRAGON ACQUISITION CORP (Announced)
-2.4% ~ $ 11.80 | WLAC – WILLOW LANE ACQUISITION CORP (Announced)

LATEST SPAC IPO PERFORMANCE
Jan 27 | GIX – GigCapital9 Corp.
Jan 27 | MLAA – Mountain Lake Acquisition Corp. II
Jan 23 | HLXC – Helix Acquisition Corp. III
Jan 23 | $ 9.97 | PTOR – Praetorian Acquisition Corp.
Jan 23 | $ 10.07 | ARCI – Archimedes Tech SPAC Partners III Co
Jan 23 | $ 10.03 | LEGO – Legato Merger Corp. IV
Jan 22 | $ 9.99 | ALOV – Aldabra 4 Liquidity Opportunity Vehicle, Inc.
Jan 21 | $ 10.00 | 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 | $ 10.10 | OIM – OneIM Acquisition Corp.
Jan 09 | $ 10.00 | ZKP – Lafayette Digital Acquisition Corp. I
Jan 08 | $ 10.08 | BBCQ – Bleichroeder Acquisition Corp. II
Jan 07 | $ 9.97 | SORN – Soren Acquisition Corp.
Jan 06 | $ 10.03 | BIII – Black Spade Acquisition III Co
Jan 06 | $ 10.00 | ARTC – Art Technology Acquisition Corp.

Recent Analysis

Daily SPAC Update – January 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.

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.

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