Daily SPAC Update – May 9, 2024

by | May 9, 2024

GP-Act III Acquisition Corp. $250M IPO. ALCC Vote Results. BCSA, EVGR, NPAB Extension Votes. FNVT Extension Approved.

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Daily SPAC Update

SPAC IPO
May 09: GPAT – GP-Act III Acquisition Corp. $250M IPO

DeSPACs
ALCC -> OKLO on May 10

EXTENSION VOTES
BCSA – BLOCKCHAIN COINVESTORS ACQUISITION CORP I * vote May 9, 2024 -> extend from May 15, 2024 to Nov 15, 2024
EVGR – EVERGREEN CORP * vote May 9, 2024 -> extend to February 11, 2025 (9 monthly)
NPAB – NEW PROVIDENCE ACQUISITION CORP II * vote May 7, 2024 -> extend from May 9, 2024 to November 9, 2024

SPAC VOTE RESULTS
FNVT – FINNOVATE ACQUISITION CORP * Extend to Nov 08, 2024 * 2,374,826 redeemed * trust $11.33
ALCC – ALTC ACQUISITION CORP * Deal Approved * 710 redeemed * trust $10.50

SPAC VOTES SET
IVCB – INVESTCORP EUROPE ACQUISITION CORP I * Extension Vote Set: May 21, 2024 * trust $11.28

YESTERDAY’S TOP SPAC GAINERS
9.44% ~ $ 12.52 | SCRM – Screaming Eagle Acquisition Corp. (Announced)
8.59% ~ $ 13.02 | HUDA – Hudson Acquisition I Corp. (Pre-Deal)
6.95% ~ $ 12.00 | SEPA – SEP ACQUISITION CORP (Announced)
6.57% ~ $ 7.30 | PLTN – Plutonian Acquisition Corp. (Announced)
5.84% ~ $ 11.60 | PPYA – Papaya Growth Opportunity Corp. I (Pre-Deal)

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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