U.S. SPACs that have completed their business combination — monthly close volume, post-merger price distribution, and the deals that just landed.
Data as of
MTD closes
3
YTD closes
25
Avg announce → close
283d
117 pipeline
What counts as a DeSPAC
A SPAC that has completed its business combination — the formerly-blank-check shell now operates as the merged target. We count the close once the SEC filing confirms the merger consummated. The post-close share price is the most recent end-of-day close at the new ticker; values below $10 typically mean the deal closed at a discount to the SPAC's trust value.
History
Monthly DeSPAC closes
Trailing 13 months
4
4
4
4
0
4
1
2
7
1
4
7
3
Jul 25
Aug
Sep
Oct
Nov
Dec
Jan 26
Feb
Mar
Apr
May
Jun
Jul
Jul 25 → Jul 26
Post-close trading
Price distribution vs $10 trust
Last 12 mo · 36 priced
Latest close price for every DeSPAC that completed in the trailing 12 months and currently has a price feed. The $10 line is the SPAC's nominal trust value — closes below it mean the merged company trades at a discount.
General Fusion is pursuing a fast and practical approach to commercial fusion energy and is headquartered in Vancouver, Canada. The Company was established in 2002 and is funded by a global syndicate of leading energy venture capital firms, industry leaders, and technology pioneers.
IQM Finland Oy (“IQM”, “IQM Quantum Computers”, “Company”) is a global leader in superconducting quantum computers. IQM provides both on-premises full-stack quantum computers and a cloud platform to access its systems. IQM customers include leading high-performance computing centres, research laboratories, universities, and enterprises that require full access to quantum hardware and software. IQM has over 300 employees, with headquarters in Finland and a global presence including France, Germany, Italy, Japan, Poland, Saudi Arabia, Spain, Singapore, South Korea, Taiwan, UK and the United States.
Securitize is tokenizing the world with $4B+ AUM (as of Oct 2025) through tokenized funds and equities in partnership with top-tier asset managers, such as Apollo, BlackRock, Hamilton Lane, KKR, VanEck and others. Securitize, through its subsidiaries, is a SEC-registered broker dealer, digital transfer agent, fund administrator and operator of a SEC-regulated Alternative Trading System (ATS). Securitize has also been recognized as a 2025 Forbes Top 50 Fintech company.
StablecoinX is a newly-formed validator and infrastructure business expected to operate infrastructure and staking services, running validators and related technical services for the Ethena protocol. StablecoinX is expected to adopt a multi-year treasury strategy to build a reserve of ENA, the Ethena protocol’s native token. About the Ethena Foundation The Ethena Foundation serves as an independent steward of the Ethena protocol – the network behind the USDe and USDtb digital dollars – with a focus on the protocol’s long-term success and integrity. The Ethena Foundation is responsible for the protocol’s governance framework, oversight of key protocol assets, and facilitating essential operations. The foundation’s commitment is to ensure the sustainable development and stability of the Ethena ecosystem for all its participants.
Teamshares is a tech-enabled acquiror of high-quality businesses, intending to be a permanent home for businesses. Part holdco, part fintech, Teamshares programmatically acquires companies with $0.5 to $5 million of EBITDA from retiring owners, integrates them with the Teamshares platform, and helps employees earn company stock. Founded in 2019, Teamshares operates subsidiaries with consolidated revenue of over $400 million across over 40 industries and 30 states.
SL Bio is a biomedical company focused on developing innovative cellular and gene therapies for cancer treatment and regenerative medicine. Leveraging proprietary technologies and strategic partnerships, the company is advancing next-generation immunotherapies and exosome-based products for both medical and consumer applications. SL Bio’s approach combines scientific expertise with a commitment to improving patient outcomes and addressing unmet needs in healthcare. SL Bio also offers ISO-certified, dermatologically tested cow milk-derived exosome-based products and plant extract products for skin and hair care, with commercial distribution in Asia.
Avalanche Treasury Co. (“AVAT”) is an ecosystem-aligned vehicle providing exposure to the Avalanche ecosystem through active treasury management, strategic investments, and an exclusive relationship with the Avalanche Foundation. AVAT bridges traditional finance and blockchain through a purpose-built operating system designed for institutional adoption.
At VERAXA Biotech, we are building a premier engine for the discovery and development of next-generation antibody-based therapeutics, including BiTAC antibody-drug conjugates (“BiTAC ADCs”), bispecific T cell engagers (“BiTAC TCEs”), and other innovative formats. Powered by a suite of transformative technologies and guided by rigorous quality-by-design principles, we are rapidly advancing our pipeline of ADCs and proprietary BiTAC formats into clinical development and beyond. VERAXA Biotech was founded on scientific breakthroughs made at the European Molecular Biology Laboratory (“EMBL”), a world-renowned institution known for pioneering life science research and cutting-edge technologies.
Founded in 2016, Einride is a technology company that develops and operates digital, electric and autonomous freight solutions to accelerate the transition to future proofed transportation in a cost-efficient way. Its technology platform includes AI powered planning and optimization, autonomous technologies, one of the world’s largest electric heavy-duty fleets and charging infrastructure. Einride is serving customers across North America, Europe and the Middle East.
Founded and headquartered in the Boston, Massachusetts, area, Factorial operates at the forefront of solid-state battery development, offering safe, high-performance alternatives to traditional lithium-ion technologies. Its proprietary FEST (Factorial Electrolyte System Technology) and Solstice platforms deliver greater energy density, enhanced safety, and compatibility with existing manufacturing systems. Factorial’s commercial partnerships include global automotive leaders such as Mercedes-Benz, Stellantis, Hyundai Motor Company, and Kia Corporation. Early investors include GVP Climate in partnership with Gatemore Capital Management and WAVE Equity Partners.
Hadron is a pioneer in MMR technology. Designed to deliver 10 MW of power, Hadron’s MMR will be smaller, more cost-effective, and faster to deploy than other proposed MMR power solutions. The revolutionary design of Hadron’s MMR allows its reactor core and containment shell to be transportable in a shipping container, providing a versatile deployment model for end users. Whether powering an artificial intelligence data center, remote community, or an industrial hub, Hadron’s MMR is expected to provide a reliable, safe and scalable nuclear energy solution.
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