More COVFEFE. DWAC Jumps as Trump Posts on Truth Social

by | Apr 29, 2022

SMR begins trading next week. And the rest of the day’s news in SPACs.

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SV / NuScale Power Approved

Spring Valley Acquisition Corp. (SV )/ NuScale officially approved. Merger will close on 5/2 and NuScale will trade as SMR on 5/3.

ZNTE / Eve Business Update Ahead of Next Week’s Vote

Zanite Acquisition Corp. (ZNTE) / Eve UAM, LLC (Eve) provides a “business update” ahead of 5/6 merger vote. Eve,  a Brazilian subsidiary of Embraer SA (ERJ), produces electric vertical take-off and landing aircraft — ie. urban air mobility infrastructure solutions.

Victory Acquisition Withdraws IPO

Victory Acquisition Corp. (VACIU), which had been targeting the media, sports, and entertainment industries and counted Sammy Hagar and and Roger Staubach on its board, ditches SPAC IPO plans.

DWAC on the move as Trump is Back

More COVFEFE. Digital World Acquisition Corp. (DWAC) traded up 9% today as Donald Trump is back on the Truth Social platform after several months’ hiatus. The SPAC has rebounded sharply from its recent slide, and is trading up 384% from its lows. The app appears to have full functionality and downloads have jumped almost tenfold in recent days. Time will tell if the momentum holds given very little in the way of financial disclosures.

Source: Truth Social

April deSPACs

Just four SPACs made it out this month. Here’s a recap:

Source: Boardroom Alpha

Elsewhere in SPACs

Next week’s votes:

  • 5/3 (HK) AGBA extension
  • 5/3 LNFA extension
  • 5/5 BREZ extension
  • 5/5 ACEV / Temp Automation
  • 5/6 ZNTE / Eve

More from Boardroom Alpha

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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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