With June wrapping up, legacy SPACs have continued to need to approve additional time for their business combinations, while at the same time, new deals have paved the way for the future. The amount of funds that could be left in the trust account is unknown territory for newly issued SPACs, but these fresh starts...

As May wraps up, we’ve continually seen teams push the boundaries with multiple extensions before being able to close business combinations. Along the way, the factors for securing funds in the trust account seem to be a never-ending battle which lets teams get creative with either securing the funds in the trust account and/or providing...

As the month closes, the urgency among teams to get shareholder approval for more time to finalize business combinations continues to grow. The deadline for completing these combinations is increasingly extended as teams face rising timelines and gradually diminishing trust funds due to multiple extensions. Extension Votes April, much like the previous months, has seen...

As the quarter comes to an end, there seems to be no slowing down amongst teams asking shareholders to approve additional times for them to complete business combinations. The “time to complete” appears to be slipping away for most teams as the time runs out and trust accounts slowly deplete after allowing for numerous extensions....

Contributions to trust are typically expected from sponsors looking to retain as much of the trust account as possible that need additional time to complete business combinations. With “time to complete” steadily increasing over the past months, redemptions from the trust account do not look to be slowing down, regardless of what SPAC teams do...

In this monthly analysis, we’ll be exploring SPAC Corporate Actions in January 2024 and parsing the results to identify any trends.  This month the SPAC market experienced numerous extension and completion votes, reflecting a continued trend of longer durations from IPO to deal closure and higher share redemptions. Extension Votes The new year started off...

Bayview Acquisition Corp (NASDAQ: BAYAU) announced the pricing of its $60 million IPO this evening. Its units are expected to begin trading on the Nasdaq under the symbol “BAYAU” on Friday, December 15, 2023. After the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to be listed...

In this monthly analysis, we’ll be exploring SPAC Corporate Actions in November 2023 and parsing the results to identify any trends.  This month the SPAC market experienced numerous extension and completion votes, reflecting a trend of longer durations from IPO to deal closure and higher share redemptions, amidst challenges like cost management through altered trust...

In this monthly analysis, we’ll be exploring SPAC extension votes in October 2023 and parsing the results to identify any trends.  We’ll look at the choices made by 19 SPACs regarding trust contributions, highlighting varying strategies, from fixed per-share amounts to fixed-dollar contributions per month. We’ll also dig into the relationship between extension lengths proposed...

Blue World Acquisition Corporation announced the pricing of its $80 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “BWAQU” Monday, January 31. The new SPAC intends to focus on opportunities in marine leisure, cruise, marine infrastructure and engineering, general hospitality, travel and tourism, and related industry segments...