Boardroom Alpha
Research library
SPACs · Aug 21, 2026

SPAC Market Update August 21, 2026: Another Crypto Deal Deal Terminated as Cantor and BSTR Call it Quits

CEPO terminated its combination with BSTR, Holdings Inc. on August 20, 2026, giving the day a fresh deal break. Separately, RF Acquisition Corp II (RFAI) shareholders approved the Nanyang Biologics Pte. Ltd. merger on August 21, 2026, with 3,956,323 shares…

SPAC IPO Update — August 21, 2026

No SPAC IPOs priced on August 21, 2026; August MTD now stands at 8 IPOs totaling $1.24B over 21 sessions.

SPAC IPO Count

Monthly IPOs (last 13 months)
Latest: 8Prior: 18MoM: -10
8
Aug ’25
14
Sep ’25
14
Oct ’25
10
Nov ’25
22
Dec ’25
24
Jan ’26
27Peak
Feb ’26
11
Mar ’26
16
Apr ’26
20
May ’26
19
Jun ’26
18
Jul ’26
8
Aug ’26
Source: Boardroom Alpha
IPO Activity SnapshotMonth-to-date: 8 IPOs ($1.24B) vs. first 21 days of last month 13 ($2.93B) · 12-mo avg: 17/mo
$ totals include underwriter over-allotment.
New SPAC IPOs
Date Ticker Issuer IPO Size Trust Funding
Aug 18 XTER Karman Line Acquisition Corp. $200M 100.0%
Aug 18 NSAI NORTHSTRIVE ACQUISITION CORP I $100M 100.0%
Aug 13 TBCV THUNDER BRIDGE CAPITAL PARTNERS V LTD $261M  $39M overallotment 100.0%
Source: Boardroom Alpha

Daily SPAC Update — August 21, 2026

SPAC VOTE RESULTS
RF ACQUISITION CORP II (RFAI) * Deal Approved with Nanyang Biologics Pte. Ltd.3,956,323 redeemed

EXTENSION VOTES
FUTURE VISION II ACQUISITION CORP (FVN)vote August 21, 2026 -> extend from September 13, 2026 to September 13, 2027

SPAC DEAL TERMINATIONS (Last 10 Days)
2026-08-20: CEPO + BSTR, Holdings Inc.
2026-08-13: DAAQ + Old Glory Holding Co

SEPARATE WARRANTS/RIGHTS
August 21: OSPREY ACQUISITION CORP III (OSPR)
August 20: ARES ACQUISITION CORP III (AAC)

OTHER SPAC NEWS
HENNESSY CAPITAL INVESTMENT CORP VII (HVII) * Investor Deck
HENNESSY CAPITAL INVESTMENT CORP VII (HVII) * Media TranscriptHVII and ONE Nuclear hosted an August 20, 2026 investor update on the pending Business Combination; presentation and transcript released.
NEWBURY STREET II ACQUISITION CORP (NTWO) * Media TranscriptFort Robotics will merge with Newbury Street II Acquisition Corp to go public via SPAC. Mark Cuban is an investor/advisor involved.
PLUM ACQUISITION CORP IV (PLMK) * Investor Deck

SPAC LISTING RULE NOTICES
RISING DRAGON ACQUISITION CORP (RDAC) * Listing Rule NoticeNasdaq flags MVLS deficiency; 180-day window to regain compliance or face potential delisting, with appeal allowed.

SPAC LIQUIDATIONS
ARTIUS II ACQUISITION INC (AACB) -> Liquidation on August 19
AGRICULTURE & NATURAL SOLUTIONS ACQUISITION CORP (ANSC) -> Liquidation on August 12

SPAC DEALS ANNOUNCED
August 18 | Newbury Street II Acquisition Corp (NTWO) + FORT RoboticsFORT Robotics develops safety solutions for autonomous machines, enabling their safe and reliable deployment alongside humans. It serves various industries, including warehousing, transportation, manufacturing, construction, agriculture, mining, energy, and defense. Since its founding in 2018, it has secured 25 patents and deployed over 19,500 units to more than 600 customers worldwide, including Fortune 500 companies.

SPAC Movers — August 21, 2026

YESTERDAY’S TOP SPAC GAINERS
Company Ticker Change Price Stage
RF ACQUISITION CORP II RFAI 13.7% $ 12.73 Announced
FUTURE VISION II ACQUISITION CORP FVN 2.9% $ 12.00 Announced
CO2 ENERGY TRANSITION CORP NOEM 2.8% $ 10.99 Pre-Deal
JATT II ACQUISITION CORP TBD 1.9% $ 13.78 Announced
PLUM ACQUISITION CORP IV PLMK 1.6% $ 10.75 Announced
YESTERDAY’S TOP SPAC LOSERS
Company Ticker Change Price Stage
RISING DRAGON ACQUISITION CORP RDAC -24.3% $ 6.65 Announced
HENNESSY CAPITAL INVESTMENT CORP VII HVII -22.3% $ 8.18 Announced
KEEN VISION ACQUISITION CORP KVAC -13.1% $ 11.51 Announced
RESEARCH ALLIANCE CORP III RACC -6.9% $ 22.90 Announced
D BORAL ARC ACQUISITION I CORP BCAR -6.0% $ 5.16 Announced
Source: Boardroom Alpha market data

Frequently Asked Questions

  • What happened in the CEPO-BSTR transaction?
    CEPO’s combination with BSTR, Holdings Inc. was listed as terminated on August 20, 2026; it was the only SPAC deal termination in today’s update.
  • How many shares did RF Acquisition Corp II redeem in the Nanyang Biologics vote?
    RF Acquisition Corp II (RFAI) reported 3,956,323 shares redeemed after shareholders approved the Nanyang Biologics Pte. Ltd. combination.
  • What did Future Vision II Acquisition Corp seek at its August 21 extension vote?
    Future Vision II Acquisition Corp (FVN) sought to extend its deadline from September 13, 2026 to September 13, 2027 at its August 21, 2026 vote.
  • How many SPAC IPOs priced in August 2026 through August 21?
    8 SPAC IPOs raised $1.24B through August 21, 2026, versus 13 IPOs for $2.93B over the same span in July 2026. Totals include over-allotments.
  • What recent merger target remained in the news today?
    Newbury Street II Acquisition Corp (NTWO) and FORT Robotics appeared in a media transcript after their August 18, 2026 merger announcement; Mark Cuban is an investor/advisor involved.


Get it in your inbox

The Daily SPAC Update in your inbox

Every IPO, vote, and DeSPAC close — analyzed daily for finance professionals.

ShareXLinkedIn

Published Aug 21, 2026

Disclaimer

The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Boardroom Alpha cannot guarantee its accuracy and completeness, and that of the opinions based thereon.

This report contains opinions and is provided for informational purposes only – it does not constitute investment, legal or tax advice. You should not rely solely upon the research herein for purposes of transacting securities or other investments, and you are encouraged to conduct your own research and due diligence, and to seek the advice of a qualified securities professional before you make any investment.

None of the information contained in this report constitutes, or is intended to constitute a recommendation by Boardroom Alpha of any particular security or trading strategy or a determination by Boardroom Alpha that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.

No representation or warranty, expressed or implied, is made on behalf of Boardroom Alpha as to the accuracy or completeness of the information contained herein. Boardroom Alpha does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed.

Full disclaimer