Daily SPAC Update – October 21, 2024

by | Oct 21, 2024

IVCA + AUS-Traded Bigtincan Holdings Deal Announced. RMG Acquisition Corp III Extension Approved w/ 473k Redemptions. Spark I Acquisition Letter of Intent. CLOE Vote Adjourned to November.

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Daily SPAC Update

SPAC DEALS ANNOUNCED
Oct 21 | IVCA – Investcorp India Acquisition Corp * + Bigtincan Holdings Limited

Investcorp AI Acquisition Corp. (IAAC) has agreed to merge with Bigtincan Holdings Limited, an Australian software company. Key deal points include:

  • Bigtincan is valued at $275 million pre-merger.
  • Investcorp will invest $12.5 million, with an additional $25 million to be raised via a PIPE deal.
  • A partial cash election allows Bigtincan shareholders to receive cash for their shares at $0.16145 per share.
  • Post-merger, Bigtincan shareholders will own up to 75% of the new company.
  • The transaction is subject to regulatory approvals and shareholder votes.

The dealmakers believe this positions Bigtincan as a global leader in AI-powered sales enablement, leveraging Investcorp’s resources.

SPAC VOTE RESULTS
RMGCF – RMG ACQUISITION CORP III * Extend to Aug 09, 2025 * 473,063 redeemed

OTHER SPAC NEWS
IVCA – INVESTCORP INDIA ACQUISITION CORP * Merger Agreement
RRAC – RIGEL RESOURCE ACQUISITION CORP * Merger Agreement Amendment
SPKL – SPARK I ACQUISITION CORP * Non-Binding LOI
CLOE – CLOVER LEAF CAPITAL CORP * Vote Adjourn

SPAC DEAL & EXTENSION VOTES SET
ACAB – Atlantic Coastal Acquisition Corp Ii * DEAL VOTE SET: Nov 07, 2024 * trust $11.30

EXTENSION VOTES
CLOE – CLOVER LEAF CAPITAL CORP * vote October 21, 2024 -> extend to October 22, 2024 to October 22, 2025

LATEST SPAC IPO PERFORMANCE
Oct 11 | $ 10.01 | RDAC – Rising Dragon Acquisition Corp.
Oct 11 | $ 10.00 | CCIR – Cohen Circle Acquisition Corp. I
Oct 07 | $ 9.99 | LPBB – Launch Two Acquisition Corp.

YESTERDAY’S TOP SPAC GAINERS
7.29% ~ $ 12.31 | KACL – Kairous Acquisition Corp. Ltd (Announced)
5.65% ~ $ 11.79 | WAVS – Western Acquisition Ventures Corp. (Announced)
1.59% ~ $ 10.86 | HYAC – Haymaker Acquisition Corp. 4 (Pre-Deal)
1.23% ~ $ 10.69 | BAYA – Bayview Acquisition Corp (Announced)

YESTERDAY’S TOP SPAC LOSERS
-6.95% ~ $ 10.84 | SBXC – SilverBox Corp III (Pre-Deal)
-5.21% ~ $ 10.00 | BHAC – Focus Impact BH3 Acquisition Company (Announced)
-2.22% ~ $ 9.09 | FIAC – Focus Impact Acquisition Corp. (Announced)
-.89% ~ $ 10.55 | DMYY – dMY Squared Technology Group, Inc. (Pre-Deal)
-.77% ~ $ 11.56 | INAQ – Insight 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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