Daily SPAC Update – June 27, 2024

by | Jun 27, 2024

GPAC + Stardust Power Deal Vote. SEDA Extension Vote. GDST + Infintium Fuel Cell Systems $130M Deal. MITA + Rain Enhancement Technologies Deal.

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Daily SPAC Update

MERGER VOTES
GPAC + Stardust Power, Inc.

EXTENSION VOTES
SEDA – SDCL EDGE ACQUISITION CORP * vote June 27, 2024 -> extend from July 2, 2024 to November 2, 2024

SPAC DEALS ANNOUNCED
MITA – Coliseum Acquisition Corp * + Rain Enhancement Technologies
GDST – Goldenstone Acquisition Ltd * + Infintium Fuel Cell Systems

SPAC DEAL TERMINATIONS
VCXB + Addimmune
SEPA + SANUWAVE Health, Inc.

SPAC IPO
Jun 26: GRAF – Graf Global Corp. $200M IPO

OTHER SPAC NEWS
MITA – COLISEUM ACQUISITION CORP * Merger Agreement

YESTERDAY’S TOP SPAC GAINERS
15.80% ~ $ 14.07 | NPAB – New Providence Acquisition Corp. II (Pre-Deal)
10.71% ~ $ 9.10 | BITE – Bite Acquisition Corp. (Announced)
7.64% ~ $ 10.43 | SEPA – SEP ACQUISITION CORP (Pre-Deal)
4.31% ~ $ 13.78 | HUDA – Hudson Acquisition I Corp. (Pre-Deal)
1.59% ~ $ 11.50 | BRAC – Broad Capital Acquisition Corp (Announced)

YESTERDAY’S TOP SPAC LOSERS
-10.92% ~ $ 7.75 | DECA – Denali Capital Acquisition Corp. (Announced)
-6.80% ~ $ 10.76 | PFTA – Portage Fintech Acquisition Corp. (Announced)
-6.36% ~ $ 10.30 | PLMI – Plum Acquisition Corp. I (Announced)
-3.43% ~ $ 16.90 | ADRT – Ault Disruptive Technologies Corp (Announced)
-3.24% ~ $ 13.16 | PTWO – Pono Capital Two, Inc. (Announced)

Recent Analysis

Daily SPAC Update – May 5, 2026

APARADISE ACQUISITION CORP (APAD) and WILLOW LANE ACQUISITION CORP (WLAC) both secured deal approvals today, with APAD reporting 19.6M shares redeemed. Additionally, FSHP terminated its merger with Great Future Technology Inc, marking one of the few deal terminations in recent weeks.

Impactive Capital Secures Full Three-Seat Slate at WEX

Impactive Capital has reached a cooperation agreement with WEX Inc., securing all three board seats it sought. The agreement follows a proxy contest and addresses WEX’s underperformance, trailing the S&P 500 by 24 points on a three-year CAGR basis.

Beretta Holding Gains Two Seats at Sturm Ruger After Proxy Fight

Sturm, Ruger & Co. Inc. (RGR) and Beretta Holding S.A. have reached a cooperation agreement granting Beretta the right to appoint two independent directors post-2026 Annual Meeting. This move follows Beretta’s campaign for boardroom change, highlighting governance and performance issues.

Daily SPAC Update – May 4, 2026

Blueport + SingAuto and Galaxyedge + Rongcheng Group Deals announced late Friday. Pono Capital Four separate trading. Gigcapital 7 non-redemption agreement.

Weekly Boardroom & Executive Moves: May 1, 2026

This week, significant leadership changes occurred across several companies facing financial difficulties. Abbott Laboratories (ABT) and Agilon Health Inc (AGL) appointed new board members and executives amidst high activist risks and declining TSRs. Accuray Inc (ARAY) and ALT5 Sigma Corp (ALTS) also saw key executive departures and appointments as they navigate substantial TSR declines. These shifts highlight the ongoing challenges and strategic redirections needed to stabilize operations and improve shareholder value.

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