Three SPAC IPOs priced on , with OHAC, APUR and FXAC raising $325M combined. OHAC led the group at $160M, APUR added $90M and FXAC raised $75M, lifting May MTD issuance to 16 IPOs for $2,274M through 21 sessions.
SPAC IPO Update —
3 SPAC IPOs priced on , raising $325M; May MTD now stands at 16 IPOs totaling $2.27B over 21 sessions.
SPAC IPO Count
Month-to-date: 16 IPOs ($2.27B) vs. first 21 days of last month 6 ($785M) · 12-mo avg: 16/mo
Aperture AC priced its $90M IPO on , and trades on Nasdaq under APUR. The SPAC targets digital asset infrastructure, focusing on areas like data centers, blockchain architecture, and token issuance.
- Calvin Kung (CEO, Director): Former Chairman and CEO of Finnovate Acquisition Corp., which merged with Scage Future.
- Daniel Zhao (CFO, Director): Entrepreneur with successful exits including Select Oil and INDUS Holdings.
- Sophie Liao (Director): Founder and Managing Partner of Republic Ventures, backing over 100 companies including 13 unicorns.
- Zhen Tan (Director): Veteran technologist with over 15 years in software engineering at companies like Eight Sleep and Spin.
- Song Wang Pettus (Director): CEO of All Basics LLC and former President of Total Accounting & Bookkeeping Solutions.
- Thomas Elliott Friend (Director): Retired Lieutenant Colonel from the U.S. Air Force with experience in financial services infrastructure.
Structure: 9M units at $10.00 each. Each unit includes one Class A ordinary share and one right to receive 1/4 of a Class A share. IB Capital, LLC, EarlyBirdCapital, Inc., and I-Bankers Securities, Inc. are joint book-runners.
Oceanhawk Acquisition Corp. has filed for a $160M IPO, aiming to list on Nasdaq under OHAC. The SPAC seeks to merge with companies in industrial and infrastructure-adjacent sectors, emphasizing financial stability and market leadership.
- Ernest Miller (CEO, Director): Former CEO and CFO of Verde Clean Fuels, with over 25 years in the energy sector.
- Jonathan Nickell (Director): CFO and EVP at Corona Industrial, overseeing strategy and M&A for a $1 billion company.
- Jon Ryan (CFO, Director): Strategic CFO with over 25 years in financial roles, including CEO of Delta Southern Railroad Inc.
- Joseph Durnford (Director): CEO of JD Ford & Company, with over 30 years in investment banking and M&A.
- Mike Maggard (Director): Partner at OceanHawk, specializing in building scalable platforms and growth initiatives.
- Dan Collingridge-Padbury (Director): Former RAF Squadron Leader with expertise in M&A and strategic capital advisory.
Structure: 15M units at $10.00 each. Each unit comprises one Class A share and one right to receive 1/4 of a Class A share. The Benchmark Company, LLC is a lead underwriter.
Fortunex Acquisition Corp. filed for a $75M IPO, targeting large underpenetrated markets with strong growth potential. The SPAC aims to list on Nasdaq under FXAC.
- Becky Fallon (Director): Business leader with over 40 years in retail operations and sales management.
- Daniel M. McCabe (CEO, Director): Founder of Daniel McCabe LLC, with a legal career spanning over 40 years.
- Robert L. Labbe (Director): Attorney with over 30 years in real estate, previously CEO of Pelican Acquisition Corp.
- Sean Michael Deegan (Director): Over 35 years in municipal administration, serving various leadership roles in Westmount, Quebec.
Structure: 7.5M units at $10.00 each. Each unit includes one ordinary share and one-half of one redeemable warrant. FortuneX Investment Partners Limited is the sponsor.
| Date | Ticker | Issuer | IPO Size | Trust Funding |
|---|---|---|---|---|
| May 21 | APUR | Aperture AC | $90M | 100.2% |
| May 21 | FXAC | FortuneX Acquisition Corp | $75M | 100.5% |
| May 21 | OHAC | Oceanhawk Acquisition Corp. | $160M | 100.5% |
| May 20 | RACC | Research Alliance Corp III | $75M | 100.0% |
| May 19 | AMAN | Amanat Acquisition Corp. | $75M | 100.0% |
| May 15 | GUAC | BERTO ACQUISITION CORP II | $274M $41M overallotment | 100.0% |
| May 15 | ETSS | ENERGY TRANSITION SPECIAL OPPORTUNITIES | $150M | 100.5% |
| May 15 | IDAC | IRON DOME ACQUISITION I CORP | $150M | 100.5% |
| May 15 | PTAC | PATRIOT ACQUISITION CORP | $200M | 100.5% |
| May 14 | GSRV | GSR V ACQUISITION CORP | $200M $30M overallotment | 100.0% |
| May 13 | BREZ | BREEZE ACQUISITION CORP II | $125M $15M overallotment | 100.2% |
Daily SPAC Update —
SPAC VOTE RESULTS
INVESTCORP AI ACQUISITION CORP (IVCAF) * Extend to 11,896 redeemed
SEPARATE WARRANTS/RIGHTS
May 22: SHREYA ACQUISITION GROUP (SAGU)
May 20: RRE VENTURES ACQUISITION CORP (RREV)
May 20: QDRO ACQUISITION CORP (QADR)
May 19: VERNAL CAPITAL ACQUISITION CORP (VECA)
May 18: FUTURE MONEY ACQUISITION CORP (FMAC)
May 18: INFLECTION POINT ACQUISITION CORP VI (IPFX)
SPAC Movers —
| Company | Ticker | Change | Price | Stage |
|---|---|---|---|---|
| HORIZON SPACE ACQUISITION II CORP | HSPT | 14.0% | $ 8.90 | Announced |
| GENERAL PURPOSE ACQUISITION CORP | GPAC | 11.8% | $ 11.93 | Pre-Deal |
| BEST SPAC I ACQUISITION CORP | BSAA | 11.6% | $ 11.94 | Announced |
| GIGCAPITAL7 CORP | GIG | 6.4% | $ 5.16 | Announced |
| VOYAGER ACQUISITION CORP | VACH | 4.6% | $ 11.01 | Announced |
| Company | Ticker | Change | Price | Stage |
|---|---|---|---|---|
| STONEBRIDGE ACQUISITION II CORP | APAC | -19.2% | $ 10.57 | Pre-Deal |
| RICE ACQUISITION CORP 3 | KRSP | -3.3% | $ 10.50 | Pre-Deal |
| RISING DRAGON ACQUISITION CORP | RDAC | -2.1% | $ 8.85 | Announced |
| ASPAC III ACQUISITION CORP | ASPC | -1.3% | $ 11.06 | Announced |
| AMERICAN EXCEPTIONALISM ACQUISITION CORP A | AEXA | -1.2% | $ 11.43 | Pre-Deal |
Frequently Asked Questions