Daily SPAC Update – March 23, 2026

by | Mar 23, 2026

Cayson Extension Approved. Pelican + Greenland Exploration/March GL Deal Approved. Technology & Telecommunications Deal Vote.

SPAC IPO UPDATE

SPAC IPO Count

Monthly IPOs (last 13 months)
Latest: 7•Prior: 27•MoM: -20
3
Mar ’25
12
Apr ’25
22
May ’25
10
Jun ’25
13
Jul ’25
8
Aug ’25
14
Sep ’25
14
Oct ’25
10
Nov ’25
22
Dec ’25
24
Jan ’26
27Peak
Feb ’26
7
Mar ’26
Source: Boardroom Alpha
New SPAC IPOs
DateTickerIssuerIPO Size
Mar 20BWIVBlue Water Acquisition Corp. IV$125M
Mar 19BHAVBHAV ACQUISITION CORP$100M
Mar 13PONOPONO CAPITAL FOUR INC$120M
Source: Boardroom Alpha

DAILY SPAC UPDATE

SPAC VOTE RESULTS
CAPN – CAYSON ACQUISITION CORP * Extend to Mar 23, 2027 * 2,541,908 redeemed
PELI – PELICAN ACQUISITION CORP * Deal Approved with Greenland Exploration Limited / March GL Company * 7,562,343 redeemed * $77,740,886 removed * trust $10.28

SPAC DEAL & EXTENSION VOTES SET
TETEF – Technology & Telecommunication Acquisition Corp * DEAL VOTE SET: Mar 30, 2026 * trust $13.15

SEPARATE WARRANTS/RIGHTS
Mar 27: ARMADA ACQUISITION CORP III (AACI)
Mar 23: NEWBRIDGE ACQUISITION LTD (NBRG)
Mar 23: MUZERO ACQUISITION CORP (TBD)
Mar 20: SPACE ASSET ACQUISITION CORP (SAAQ)
Mar 20: KRAKACQUISITION CORP (KRAQ)

OTHER SPAC NEWS
LEGT – LEGATO MERGER CORP III * Investor Deck
LEGT – LEGATO MERGER CORP III * Media Transcript
CEPO – CANTOR EQUITY PARTNERS I INC * Media Transcript

SPAC DEAL TERMINATIONS (Last 10 Days)
2026-03-17: QSEA + Zhejiang Gaokai New Materials Co

SPAC Executive & Director Moves
CompanyTickerMoves
FIFTH ERA ACQUISITION CORP IFERA
  • Gary Cookhorn resigned as a director effective March 17, 2026, and Donald Putnam was appointed as a director effective March 20, 2026.  (view source)
Source: SEC EDGAR filings via Boardroom Alpha

SPAC MOVERS

YESTERDAY’S TOP SPAC GAINERS
CompanyTickerChangePriceStage
AIMEI HEALTH TECHNOLOGY CO LTDAFJK 4.6%$ 27.50Announced
HORIZON SPACE ACQUISITION II CORPHSPT 1.2%$ 8.15Announced
GLOBA TERRA ACQUISITION CORPGTER 0.6%$ 10.26Pre-Deal
SILVERBOX CORP VSBXE 0.6%$ 10.03Pre-Deal
LIGHTWAVE ACQUISITION CORPLWAC 0.6%$ 10.19Pre-Deal
 
YESTERDAY’S TOP SPAC LOSERS
CompanyTickerChangePriceStage
PELICAN ACQUISITION CORPPELI -25.9%$ 7.54Announced
VOYAGER ACQUISITION CORPVACH -9.6%$ 10.50Announced
RISING DRAGON ACQUISITION CORPRDAC -8.9%$ 5.10Announced
TRAILBLAZER MERGER CORP ITBMC -3.8%$ 10.10Announced
GIGCAPITAL9 CORPGIX -2.6%$ 9.80Pre-Deal
Source: Boardroom Alpha market data

Recent Analysis

Daily SPAC Update – May 8, 2026

Starlink AI Acquisition Corp (OTAI) launched its $100 million IPO today, marking the fifth SPAC IPO this month, raising a total of $800 million. APAD DeSPACs to Enhanced Ltd. Meanwhile, GigCapital7 Corp (GIG) secured non-redemption waivers to support its merger with Hadron Energy, while Climatetrock (CLRCF) extended its deadline to November 2026 with $59,922 removed from trust.

Viasat Agrees to Add Two Carronade-Backed Directors

Viasat Inc. (VSAT) has entered into a cooperation agreement with Carronade Capital Management, expanding its board from eight to ten directors. This agreement comes as Viasat trails the S&P 500 by 6 points on a five-year CAGR basis. Carronade, holding a 3.8% stake, secures two independent board seats.

Daily SPAC Update – May 7, 2026

Shreya Acquisition Group (SAGU) launched its $100 million IPO today, marking the fourth SPAC IPO this month. Meanwhile, Legato Merger Corp III (LEGT) secured a three-month extension for its merger, with over $35 million redeemed. Additionally, Gigcapital7 Corp (GIG) holds a merger vote today with Hadron Energy, a leader in modular nuclear technology.

Daily SPAC Update – May 6, 2026

Vernal Capital Acquisition Corp. (VECA) IPO’d today, raising $100 million. This brings the month-to-date total to 3 IPOs, totaling $600 million. Drugs Made in America inks $1B AI deal.

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.

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