Two SPAC deals as the clock keeps ticking

by | May 31, 2022

Two SPAC deals today and some important votes this week.

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SPAC Deal: MAAQ + Cardio Diagnostics

Mana Capital Acquisition Corp. (MAAQ) announces a DA with Cardio Diagnostics, an “artificial intelligence-driven Integrated Genetic-Epigenetic Engine™ that enables improved diagnosis and prevention of cardiovascular disease.” Cardio Diagnostics is expected to have an approximate post-transaction equity market capitalization of $175 million assuming no redemptions, and will list on the Nasdaq as “CDIO.” Expected close in the second half of 2022. No slide deck.

SPAC Deal: GIAC+ Freightos

Gesher I Acquisition Corp. (GIAC) announces a DA with Fedex-backed Freightos. The transaction values Freightos, a digital platform for global freight booking services, at a pro forma $435M enterprise value. The transaction is expected to generate gross proceeds of at least $80 million (and up to $166 million depending on redemptions). Expected close in 2H 2022. There is an investor call tomorrow am.

GLBL – on track to close 2H 2022

Cartesian Growth Corporation (GLBL) announced it has received the required pre-closing approvals and is on track to close its merger with Tiedemann Group and Alvarium Investments in 2H 2022.

OPA / Forbes on ice

Axios notes that Forbes’ IPO plans may be in trouble. Magnum Opus Acquisition Limited(OPA), which is looking to merge with Forbes, has filed two deadline extensions so far this year.

Elsewhere in SPACs

SPAC votes this week

  • Wed: NAAC / TeleSign; RBAC / SeatGeek; BIOT / Blade
  • Thu: EDTX extension
  • Fri: SVFC / Symbotic

SPAC Calendar

Source: Boardroom Alpha

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Recent Analysis

Daily SPAC: GUAC, IDAC IPOs Add $400M in SPAC Capital – May 15, 2026

2 SPAC IPOs priced today, with Berto Acquisition Corp. II (GUAC) raising $250M and Iron Dome Acquisition I Corp (IDAC) raising $150M; IDAC funded trust at 100.5% of par. May MTD totals 9 IPOs / $1,425M through 15 days vs. 5 / $725M over the same span last month. Separately, RAAQ advanced its IQM merger with an F-4 filing.

Daily SPAC: SIMA, CAEP-Air Redemptions – May 14, 2026

SIM Acquisition I (SIMA) lost $242M from trust on its extension approval to Jul. 12, 2027, and Cantor Equity Partners III (CAEP) cleared its Air deal after $234M in redemptions. Separately, GSR V Acquisition (GSRV) priced a $200M IPO, taking May MTD to 7 SPAC IPOs / $1,025M through 14 days.

Daily SPAC: BREZ $125M IPO, GPAT Non-Redemption Agreements – May 13, 2026

GP-ACT III Acquisition (GPAT) disclosed non-redemption agreements tied to extension and trust-amendment votes, with investors pledging support and no redemptions alongside sponsor share transfers. Breeze Acquisition Corp. II (BREZ) priced a $125M IPO today with 100.2% initial trust funding; May MTD is 6 IPOs for $825M through 13 sessions vs. 2 IPOs / $350M at the same point last month.

Daily SPAC: CAEP Forward Purchase, AIR-Pubco – May 12, 2026

Cantor Equity Partners III (CAEP) announced a forward purchase with Harraden Circle to fund the CAEP-AIR-Pubco business combination. Columbus Acquisition (COLA) issued a convertible extension note to WISeSat.Space. MTD: 5 SPAC IPOs raised $700M through the first 12 sessions of May vs. 2 IPOs / $350M over the same span in April.

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