CSLM DeSPACs to Fusemachines. Two More SPAC IPOs as Harvard Ave and Miluna Debut to Make it 107 New SPACs in 2025.
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Daily SPAC Update
2025 SPAC IPO UPDATE
As of today’s IPOs, 2025 has officially seen 107 SPAC IPOs—nearly double last year’s count and the most in a single year since the frenzy of 2021. The rebound reflects a fresh wave of activity from veteran sponsors benefiting from lower at-risk capital and cheaper D&O insurance, helping make SPAC launches leaner and more strategic. The “vibe” now feels notably different—less of the speculative euphoria and more of a measured optimism that channels the energy of other hot corners of the market like crypto and AI. Many new SPACs are targeting next-generation technologies including blockchain infrastructure, AI-driven biotech, and digital finance platforms, signaling a thematic overlap with broader speculative trends capturing investor enthusiasm in 2025.
SPAC VOTE RESULTS
HOND – HCM II ACQUISITION CORP * Deal Approved with Terrestrial Energy Inc.
DeSPACs
Oct 23: CSLM DeSPAC to Fusemachines Inc. (FUSE)
NEW SPAC IPOs
Oct 23: HAVA – Harvard Ave Acquistion Corp $145M IPO
Oct 23: MMTX – Miluna Acquisition Corp $60M IPO
Oct 22: ALIS – Calisa Acquisition Corp $60M IPO
SPAC DEAL & EXTENSION VOTES SET
CCTSF – Cactus Acquisition Corp 1 Ltd * EXTENSION VOTE SET: Oct 31, 2025 * trust $12.16
OTHER SPAC NEWS
EMCG – EMBRACE CHANGE ACQUISITION CORP * Merger Agreement Amendment
EQV – EQV VENTURES ACQUISITION CORP * Ticker Change
DTSQ – DT CLOUD STAR ACQUISITION CORP * Non-Redemption Agreement
SPAC DEALS ANNOUNCED
Oct 20 | AACI – Armada Acquisition Corp Ii + Evernorth Holdings Inc.
ABOUT Evernorth Holdings Inc.
At closing, Evernorth will be a publicly traded digital asset treasury that provides investors with exposure to XRP through a regulated, liquid, and transparent structure. Unlike ETFs, Evernorth intends to actively grow its XRP per share through a mix of institutional and DeFi yield strategies, ecosystem participation, and capital markets activities.
SPAC Movers
YESTERDAY’S TOP SPAC GAINERS
5.83% ~ $ 12.70 | SVII – SPRING VALLEY ACQUISITION CORP II (Announced)
.92% ~ $ 11.02 | BACQ – BLEICHROEDER ACQUISITION CORP I (Announced)
.90% ~ $ 10.14 | MBVI – M3-BRIGADE ACQUISITION VI CORP (Pre-Deal)
.83% ~ $ 10.89 | LEGT – LEGATO MERGER CORP III (Pre-Deal)
.60% ~ $ 10.04 | INAC – INDIGO ACQUISITION CORP (Pre-Deal)
YESTERDAY’S TOP SPAC LOSERS
-30.22% ~ $ 9.42 | ATMV – ALPHAVEST ACQUISITION CORP (Announced)
-9.22% ~ $ 17.42 | HOND – HCM II ACQUISITION CORP (Announced)
-8.76% ~ $ 16.98 | CCCX – CHURCHILL CAPITAL CORP X (Announced)
-6.22% ~ $ 18.39 | CEP – CANTOR EQUITY PARTNERS INC (Announced)
-3.37% ~ $ 10.05 | GSRF – GSR IV ACQUISITION CORP (Pre-Deal)
LATEST SPAC IPO PERFORMANCE
Oct 23 | $ .00 | HAVA – Harvard Ave Acquistion Corp
Oct 23 | $ .00 | MMTX – Miluna Acquisition Corp
Oct 22 | $ .00 | ALIS – Calisa Acquisition Corp
Oct 07 | $ 10.03 | LKSP – Lake Superior Acquisition Corp
Oct 06 | $ 10.27 | GIW – GigCapital8 Corp.
Oct 03 | $ 10.21 | RNGT – Range Capital Acquisition Corp II
Oct 03 | $ 10.13 | AIIA – AI Infrastructure Acquisition Corp.
Oct 01 | $ 10.67 | KRSP – Rice Acquisition Corp 3
Oct 01 | $ 9.99 | YCY – AA Mission Acquisition Corp. II
Sep 30 | $ 10.05 | APAC – StoneBridge Acquisition II Corp
Sep 30 | $ 10.26 | BCSS – Bain Capital GSS Investment Corp.
Sep 30 | $ 10.47 | BDCI – BTC Development Corp.
Sep 26 | $ 10.53 | FCRS – FutureCrest Acquisition Corp.
Sep 26 | $ 11.71 | AEXA – American Exceptionalism Acquisition Corp. A
Sep 25 | $ 10.00 | DMII – Drugs Made In America Acquisition II Corp.
Sep 25 | $ 10.04 | EMIS – Emmis Acquisition Corp.