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SPACs · Jul 21, 2026

SPAC Market Update July 21, 2026: B&R Technology and Southern Cross IPO, CDAQ-Key Mining Terminated

Two new SPACs IPO for $425M, Compass Digital / Key Mining deal terminated as it now heads to liquidation, and IPEX, FTII extension votes set.

SPAC IPO Update — July 21, 2026

2 SPAC IPOs priced on July 21, 2026, raising $425M; July MTD now stands at 11 IPOs totaling $2.51B over 21 sessions.

SPAC IPO Count

Monthly IPOs (last 13 months)
Latest: 11Prior: 21MoM: -10
13
Jul ’25
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
21
Jun ’26
11
Jul ’26
Source: Boardroom Alpha
IPO Activity Snapshot2 SPAC IPOs today raising $425M · BRTM ($325M), NCO ($100M)
Month-to-date: 11 IPOs ($2.51B) vs. first 21 days of last month 16 ($3.19B) · 12-mo avg: 17/mo
$ totals include underwriter over-allotment.
Size
$325M
Ticker
Sponsor
B&R Technology Sponsor LLC

B&R Technology Merger Corp. is targeting the technology industry and technology-enabled companies, focusing on next-generation communication infrastructure, AI software, and data optimization. The SPAC plans to leverage its management and sponsor’s extensive experience in these sectors.

Leadership
Clark CallanderCFO, Director
Governor-appointed non-attorney public member on the Board of Trustees for the State Bar of California.
Guy GechtDirector
Previously CEO of Electronics For Imaging, Inc., leading its transformation into a global leader in digital printing.
David Arthur YorkDirector
Founder and Chairman of Top Tier Capital Partners, managing approximately $8 billion in assets.
David G GoldenDirector
Managing Partner at Revolution Ventures, with over three decades in venture capital and investment banking.
H Raymond BinghamDirector
Co-founder of Canyon Bridge Capital Partners and Executive Chairman of Imagination Technologies Group plc.
Jeff ClarkeDirector
CEO of Insurity, LLC and former CEO of Eastman Kodak Company.
Renée E. LaBranDirector
Co-founded Rustic Canyon Partners and serves on the board of Idealab, Inc.
Steven C FletcherDirector
Founder and CEO of Authentic Holdings, LLC, a SPAC sponsor.
Size
$100M
Ticker
NCO / NCOU
Sponsor
Southern Cross Acquisition I Sponsor Corp.

Southern Cross Acquisition I Corp. is targeting companies with industry leadership and sustainable competitive advantages, focusing on long-term revenue visibility and defensible market positions. The SPAC aims to leverage its management’s extensive experience to create value through acquisitions.

Leadership
Ally Tong ZhangCEO, Director
CEO and Chairwoman of Southern Cross Acquisition II Corp., with extensive experience in corporate finance and strategic planning.
Qian XuDirector
Founder of HB International Consulting LLC, specializing in US-China cross-border transactions.
Siu Wai LamCFO
Managing Director of GPLF CPA Limited, overseeing auditing operations and strategic financial management.
Zhiqiang DuDirector
Chairman of Asia-Link Investment Holdings Pte Ltd, with extensive experience in investment management.
Zhuo LiangDirector
Secretary of the Family Office Alliance, advising on wealth management and cross-border investment strategies.

Structure: 10M units at $10.00. Each unit = one ordinary share, one redeemable warrant, and one right. D. Boral Capital LLC sole book-runner.

New SPAC IPOs
Date Ticker Issuer IPO Size Trust Funding
Jul 21 BRTM B&R Technology Merger Corp. $325M 100.0%
Jul 21 NCO Southern Cross Acquisition I Corp. $100M 100.0%
Jul 17 AMAC AMR RESOURCES ACQUISITION CORP $250M 100.0%
Jul 14 JONE JONES VENTURES INTL ACQUISITION1 CORP $200M 100.0%
Jul 13 RACD RESEARCH ALLIANCE CORP IV $75M 100.0%
Source: Boardroom Alpha

Daily SPAC Update — July 21, 2026

SPAC DEAL & EXTENSION VOTES SET
Inflection Point Acquisition Corp V (IPEX) * EXTENSION VOTE SET: August 12, 2026 * trust $10.54
Futuretech II Acquisition Corp (FTII) * EXTENSION VOTE SET: August 13, 2026 * trust $12.63

EXTENSION VOTES
CO2 ENERGY TRANSITION CORP (NOEM)vote July 21, 2026 -> extend to June 22, 2027

DeSPACs
July 21 | PCSC DeSPAC → Freenome Holdings, Inc. (FRNM)Freenome Holdings, Inc. develops blood-based tests for early cancer detection. It employs a multiomics platform that analyzes various signals in the blood, utilizing artificial intelligence and machine learning to identify subtle indicators of cancer. This approach addresses the complexity of cancer, aiming to detect the disease when it is most treatable.
July 20 | FGMC DeSPAC → Boxabl Inc. (BXBL)Boxabl Inc. develops modular building systems aimed at providing affordable housing solutions. Its flagship product, the Casita, is a 361 square foot studio unit that can be set up on-site in under an hour. The company also offers the Baby Box, a 120 square foot unit designed for RV code compliance, and is working on stackable models for larger residential configurations.

SPAC DEAL TERMINATIONS (Last 10 Days)
2026-07-15: FORL + Xiaoyu Dida Interconnect International Limited
2026-07-14: CDAQ + Key Mining Corp.

SEPARATE WARRANTS/RIGHTS
July 20: TRIBECA STRATEGIC ACQUISITION CORP (BID)
July 20: VIKING ACQUISITION CORP II (VII)

OTHER SPAC NEWS
COMPASS DIGITAL ACQUISITION CORP (CDAQ) * Deal TerminationMerger with Key Mining terminated. Company to wind up, redeem public shares, liquidate the trust, and dissolve.
COMPASS DIGITAL ACQUISITION CORP (CDAQ) * Liquidation -> 2026-07-20
COMPASS DIGITAL ACQUISITION CORP (CDAQ) * Vote AdjournedKMC terminated its merger with Compass Digital Acquisition; the company will wind up, redeem public shares, and dissolve.
DRUGS MADE IN AMERICA ACQUISITION CORP (DMAA) * Merger Agreement AmendmentAmendment No.3 tightens founder-share forfeiture and rights, adds contingent three-party deal, sets minimum cash, and strengthens related-party protections.
DT CLOUD STAR ACQUISITION CORP (DTSQ) * DelistingDT Cloud Star Acquisition faces Nasdaq delisting for MVLS and shareholder count noncompliance; hearing request to stay suspension.
LIONHEART HOLDINGS (CUB) * Non-Binding LOILionheart enters LOI with Keo Energy for a potential business combination; due diligence and approvals needed.

SPAC LISTING RULE NOTICES
DT CLOUD STAR ACQUISITION CORP (DTSQ) * Listing Rule NoticeDT Cloud Star Acquisition faces Nasdaq delisting for MVLS and shareholder count noncompliance; hearing request to stay suspension.

SPAC LIQUIDATIONS
CHURCHILL CAPITAL CORP IX (CCIX) -> Liquidation on July 28
COMPASS DIGITAL ACQUISITION CORP (CDAQ) -> Liquidation on July 20

SPAC Executive & Director Moves — July 21, 2026

SPAC Executive & Director Moves
Company Ticker Moves
APEX TECH ACQUISITION INC TRAD
  • On July 20, 2026, Shaoren Liu resigned as CEO while transitioning to continue as CFO, Chairman of the Board, and Director, and Florence Ng was appointed as the new CEO effective the same date.  (view source)
BLEICHROEDER ACQUISITION CORP III BCCQU
  • Constantine Dakolias has been appointed as a director of Bleichroeder Acquisition Corp. III, effective July 20, 2026.  (view source)
COLLECTIVE ACQUISITION CORP CCAQ
  • Effective July 17, 2026, Maximilian Staedtler will serve as the new Chief Financial Officer, while Elliot Richmond will resign from the Chief Financial Officer position but continue as Chairman and CEO.  (view source)
OXLEY BRIDGE ACQUISITION LTD OBA
  • On July 16, 2026, Jack Cho resigned from the Board of Directors, and Enrique Gonzalez, Wee Leong Gan, and Norma Chu were appointed to fill the vacancies.  (view source)
Source: SEC EDGAR filings via Boardroom Alpha

SPAC Movers — July 21, 2026

YESTERDAY’S TOP SPAC GAINERS
Company Ticker Change Price Stage
STONEBRIDGE ACQUISITION II CORP APAC 22.9% $ 12.69 Pre-Deal
RISING DRAGON ACQUISITION CORP RDAC 9.5% $ 6.08 Announced
FUTURE VISION II ACQUISITION CORP FVN 0.5% $ 10.99 Announced
APEX TECH ACQUISITION INC TRAD 0.5% $ 9.99 Pre-Deal
CANTOR EQUITY PARTNERS VI INC CEPS 0.5% $ 10.42 Pre-Deal
YESTERDAY’S TOP SPAC LOSERS
Company Ticker Change Price Stage
EUREKA ACQUISITION CORP EURK -3.9% $ 12.00 Announced
GENERAL PURPOSE ACQUISITION CORP GPAC -3.7% $ 11.44 Pre-Deal
AIMEI HEALTH TECHNOLOGY CO LTD AFJK -2.1% $ 11.75 Pre-Deal
DISCIPLINED GROWTH ACQUISITION CORP DGAC -1.8% $ 9.90 Pre-Deal
RMG ML SPORTS HOLDINGS SHOT -1.8% $ 9.82 Pre-Deal
Source: Boardroom Alpha market data

Frequently Asked Questions

  • Which SPAC IPOs priced on July 21, 2026?
    B&R Technology Merger Corp. (BRTM) raised $325M, and Southern Cross Acquisition I Corp. (NCO) raised $100M. The 2 IPOs raised $425M combined on July 21, 2026.
  • How many SPAC IPOs priced in July 2026 through July 21?
    11 SPAC IPOs raised $2.51B through July 21, 2026, compared with 16 IPOs for $3.19B over the first 21 days of June 2026.
  • What happened to Compass Digital Acquisition Corp’s Key Mining merger?
    Compass Digital Acquisition Corp (CDAQ) said the Key Mining merger was terminated. The SPAC plans to wind up, redeem public shares, liquidate the trust and dissolve.
  • Which SPAC extension votes were scheduled today?
    Inflection Point Acquisition Corp V (IPEX) scheduled an extension vote for August 12, 2026, and Futuretech II Acquisition Corp (FTII) scheduled one for August 13, 2026.
  • Which DeSPACs completed this week?
    2 DeSPACs completed this week: PCSC became Freenome Holdings, Inc. (FRNM) on July 21, and FGMC became Boxabl Inc. (BXBL) on July 20.


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Published Jul 21, 2026 · last updated Jul 21, 2026

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