Daily SPAC Update – March 12, 2024

by | Mar 12, 2024

LBBB DeSPACs to NMHI. ATEK, GMFI, XPDB Extension Votes. BHAC, CONX, RRAC Deals. PEPL to Liquidate. ADOC Deal Approved. RWOD Vote Adjourned.

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Daily SPAC Update

DeSPACs
LBBB -> NMHI on Mar 12

EXTENSION VOTES
ATEK – ATHENA TECHNOLOGY ACQUISITION CORP II * vote March 12, 2024 -> extend to Dec 14, 2024
GMFI – AETHERIUM ACQUISITION CORP * vote March 12, 2024 -> extend to Dec 29, 2024
XPDB – POWER & DIGITAL INFRASTRUCTURE ACQUISITION II CORP * vote March 12, 2024 -> extend from March 14, 2024 to July 14, 2024

SPAC DEALS ANNOUNCED
BHAC + XCF Global Capital
CONX + EchoStar Real Estate Holding – Properties
RRAC + Aurous

SPAC VOTE RESULTS
RWOD – REDWOODS ACQUISITION CORP * Deal vote adjourned to March 22, 2024
MCAA – MOUNTAIN & CO I ACQUISITION CORP * Extend to Nov 09, 2024 * 3,133,293 redeemed * trust $11.42
ADOC – EDOC ACQUISITION CORP * Deal Approved * 650,039 redeemed * trust $11.76

SPAC VOTES SET
NVAC – NORTHVIEW ACQUISITION CORP * Extension Vote Set: Mar 21, 2024 * trust $11.27

SPAC LIQUIDATION
PEPL – PEPPERLIME HEALTH ACQUISITION CORP * liquidation * trust $10.93

YESTERDAY’S TOP SPAC GAINERS
181.44% ~ $ 29.27 | XPDB – Power Digital Infrastructure Acquisition II Corp. (Announced)
47.91% ~ $ 12.01 | ENCP – Energem Corp (Announced)
24.09% ~ $ 13.34 | CNDB – Concord Acquisition Corp III (Announced)
18.72% ~ $ 8.25 | ESAC – ESGEN Acquisition Corp (Announced)
14.29% ~ $ 12.00 | MBTC – Nocturne Acquisition Corporation (Announced)

YESTERDAY’S TOP SPAC LOSERS
-15.41% ~ $ 7.08 | APAC – StoneBridge Acquisition Corp. (Announced)
-14.20% ~ $ 7.49 | DHCA – DHC Acquisition Corp (Announced)
-10.60% ~ $ 11.25 | AIMAU – Aimfinity Investment Corp. I (Announced)
-9.31% ~ $ 9.55 | RWOD – Redwoods Acquisition Corp. (Announced)
-6.81% ~ $ 11.50 | ASCA – ASPAC I Acquisition Corp. (Announced)

Recent Analysis

Daily SPAC: GUAC, IDAC IPOs Add $400M in SPAC Capital – May 15, 2026

2 SPAC IPOs priced today, with Berto Acquisition Corp. II (GUAC) raising $250M and Iron Dome Acquisition I Corp (IDAC) raising $150M; IDAC funded trust at 100.5% of par. May MTD totals 9 IPOs / $1,425M through 15 days vs. 5 / $725M over the same span last month. Separately, RAAQ advanced its IQM merger with an F-4 filing.

Daily SPAC: SIMA, CAEP-Air Redemptions – May 14, 2026

SIM Acquisition I (SIMA) lost $242M from trust on its extension approval to Jul. 12, 2027, and Cantor Equity Partners III (CAEP) cleared its Air deal after $234M in redemptions. Separately, GSR V Acquisition (GSRV) priced a $200M IPO, taking May MTD to 7 SPAC IPOs / $1,025M through 14 days.

Daily SPAC: BREZ $125M IPO, GPAT Non-Redemption Agreements – May 13, 2026

GP-ACT III Acquisition (GPAT) disclosed non-redemption agreements tied to extension and trust-amendment votes, with investors pledging support and no redemptions alongside sponsor share transfers. Breeze Acquisition Corp. II (BREZ) priced a $125M IPO today with 100.2% initial trust funding; May MTD is 6 IPOs for $825M through 13 sessions vs. 2 IPOs / $350M at the same point last month.

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.

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