Yes, SPAC IPOs are still pricing (slowly). Trouble is, last year’s bubble valuations are making deals tougher to execute as committed financing dries up. Expect more cancellations.
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Yes, SPAC IPOs are still happening, even if the pace is down to a trickle. 6 IPOs so far this month, down from 20 in February and 109 last March.
SPAC IPOs down to a trickle
But as we’ve seen in recent weeks, even SPACs with DAs aren’t out of the woods yet. Without committed financing, we are starting to see many SPAC deals priced at aggressive 2021 valuations fall through the cracks. Expect to see more sweeteners and especially deal cancellations as we navigate volatile markets for the foreseeable future.
So far in March, we’ve seen 2 deSPACs make it out of the gate, down from 9 last year.
Not surprisingly, market volatility is closing the exits
NUBI prices $110M IPO
Nubia Brand International (NUBI) priced a $110M IPO: 1/2W, $10.20 trust. Targeting wireless telecom. Patrick Orlando of Digital World Acquisition Corp. (DWAC) is a “special advisor” to the board. The SPAC will be led by CEO Jaymes Winters, and CFO Vlad Prantsevich.
EF Hutton, division of Benchmark Investments, LLC, is acting as the sole book running manager for the offering.
FMAC sweetens terms for shareholders ahead of Starry Merger
FirstMark Horizon (FMAC) reminds investors that its sweetened the deal for its proposed merger with Starry. The company is allocating an additional 1M shares to non-redeeming stockholders. 2.4M shares out of 41.4M public shares have agreed not to redeem in exchange for bonus shares.
RCFLU/Gett terminate deal
Rosecliff Acquisition Corp. (RCFLU) terminated its merger agreement with Gett as a result of “recent market volatility.” Gett, a corporate ground transportation management (GTM) technology platform, says it exit the Russian market permanently. The company expects to enter 2023 as a “fast-growing and profitable company that will be ready to go public when markets return to a more actionable state.” Rosecliff will keep looking for a deal. A prospectus wasn’t even filed for this one.
Biggest SPAC Movers
Biggest SPAC Gainers
4.44% ~ $ 9.40 | BTNB – Bridgetown 2 Holdings Limited (Announced)
2.45% ~ $ 11.71 | CFVI – CF Acquisition Corp. VI (Announced)
1.54% ~ $ 71.37 | DWAC – Digital World Acquisition Corp. (Announced)
.91% ~ $ 9.95 | DNAA – Social Capital Suvretta Holdings Corp. I (Announced)
.89% ~ $ 10.21 | MEKA – MELI Kaszek Pioneer Corp (Pre-Deal)
.62% ~ $ 9.80 | RVAC – Riverview Acquisition Corp. (Pre-Deal)
.61% ~ $ 9.88 | LCW – Learn CW Investment Corp (Pre-Deal)
.61% ~ $ 9.91 | PORT – Southport Acquisition Corporation (Pre-Deal)
.51% ~ $ 9.80 | PRPC – CC Neuberger Principal Holdings III (Pre-Deal)
.51% ~ $ 9.89 | VGII – Virgin Group Acquisition Corp. II (Announced)
.51% ~ $ 9.95 | SVNA – 7 Acquisition Corp (Pre-Deal)
.50% ~ $ 9.96 | VCXB – 10X Capital Venture Acquisition Corp. III (Pre-Deal)
.46% ~ $ 9.78 | LDHA – LDH Growth Corp I (Pre-Deal)
.45% ~ $ 10.02 | GACQ – Global Consumer Acquisition Corp. (Announced)
.41% ~ $ 9.76 | VAQC – Vector Acquisition Corporation II (Pre-Deal)
.41% ~ $ 9.78 | TWNI – Tailwind International Acquisition Corp. (Pre-Deal)
.41% ~ $ 9.82 | MON – Monument Circle Acquisition Corp (Pre-Deal)
.41% ~ $ 9.88 | SPAQ – Spartan Acquisition Corp. III (Announced)
.40% ~ $ 9.94 | OCA – Omnichannel Acquisition Corp (Pre-Deal)
.40% ~ $ 9.97 | APN – Apeiron Capital Investment Corp. (Pre-Deal)
Biggest SPAC Losers
-20.02% ~ $ 7.95 | FMAC – FirstMark Horizon Acquisition Corp (Announced)
-1.92% ~ $ 9.71 | CPAA – Conyers Park III Acquisition Corp. (Pre-Deal)
-1.15% ~ $ 9.44 | MOTV – Motive Capital Corp (Announced)
-1.11% ~ $ 9.73 | TCOA – Trajectory Alpha Acquisition Corp. (Pre-Deal)
-.82% ~ $ 10.89 | GGPI – Gores Guggenheim, Inc (Announced)
-.60% ~ $ 9.89 | MCAF – Mountain Crest Acquisition Corp. IV (Pre-Deal)
-.53% ~ $ 9.84 | DAOO – Crypto 1 Acquisition Corp (Pre-Deal)
-.52% ~ $ 9.65 | APMI – AxonPrime Infrastructure Acquisition Corp (Pre-Deal)
-.51% ~ $ 9.76 | RCLF – Rosecliff Acquisition Corp I (Pre-Deal)
-.51% ~ $ 9.80 | INAQ – Insight Acquisition Corp. (Pre-Deal)
-.50% ~ $ 9.87 | ACAB – Atlantic Coastal Acquisition Corp. II (Pre-Deal)
-.50% ~ $ 9.92 | MNTN – Everest Consolidator Acquisition Corp (Pre-Deal)
-.50% ~ $ 10.00 | DTRT – DTRT Health Acquisition Corp. (Pre-Deal)
-.44% ~ $ 10.14 | ADOC – Edoc Acquisition Corp (Announced)
-.40% ~ $ 9.87 | BNIX – Bannix Acquisition Corp. (Pre-Deal)
-.40% ~ $ 9.87 | ARTE – Artemis Strategic Investment Corporation (Pre-Deal)
-.40% ~ $ 10.07 | HUGS – USHG Acquisition Corp. (Announced)
-.31% ~ $ 9.70 | JUGG – Jaws Juggernaut Acquisition Corporation (Pre-Deal)
-.31% ~ $ 9.78 | NHIC – NewHold Investment Corp. II (Pre-Deal)
-.31% ~ $ 9.80 | MCAG – Mountain Crest Acquisition Corp. V (Pre-Deal)
Know Who Drives Return Podcast
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Recent podcasts
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The Daily SPAC
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- SPAC Market Update July 27, 2026: Research Alliance III+Oak Hill Bio, Cartesian Growth II+InoBat Merger AgreementsJuly 27, 2026Research Alliance Corp III (RACC) announced a merger with Oak Hill Bio, a clinical-stage rare-disease biotech. Separately, Cartesian Growth Corp II (RENEF) announced a merger with InoBat, a battery-energy-storage and cell-development platform.
- SPAC Market Update July 24, 2026: Pelican II and Market Technology Price 2 SPAC IPOs for $275MJuly 24, 2026Market Technology Acquisition Corp (MTAK) and Pelican Acquisition II Corp (PLCI) priced 2 SPAC IPOs on July 24, 2026, raising $275M combined. Separately, FOUR LEAF ACQUISITION CORP (FORL) won approval to extend its deadline to June 22, 2027, with 893,090 shares redeemed.
- SPAC Market Update July 23, 2026: HUDA Extension Approved, BBCQ LTIP AmendedJuly 23, 2026Hudson Acquisition I Corp (HUDA) won extension approval on July 23, 2026, with $94,334 removed from trust and a new deadline of April 18, 2027. Separately, Bleichroeder Acquisition Corp II (BBCQ) amended its LTIP for post-closing founder awards tied to performance vesting and board approval.
- SPAC Market Update July 22, 2026: MBAV $136M Redemption, Apex+TECfusions and Kensington+Nth Cycle DealsJuly 22, 2026Apex Treasury Corp (APXT) announced a merger with TECfusions, and Kensington Capital Acquisition Corp Vi (KCAC.U) announced a merger with Nth Cycle Inc. MBAV ticker change and $136M in redemptions.
- SPAC Market Update July 21, 2026: B&R Technology and Southern Cross IPO, CDAQ-Key Mining TerminatedJuly 21, 2026Two new SPACs IPO for $425M, Compass Digital / Key Mining deal terminated as it now heads to liquidation, and IPEX, FTII extension votes set.
- SPAC Market Update July 20, 2026: FORL Terminates XYDD Deal, BXBL Completes DeSPACJuly 20, 2026Four Leaf Acquisition Corp (FORL) terminated its XYDD business combination on July 20, 2026, with XYDD to receive a $2M promissory note and no termination fee. Separately, Boxabl Inc. (BXBL) completed its DeSPAC, giving public-market investors a modular-housing issuer.