Blockchain Moon Acquisition Corp. (BMAQ) Reverses Decision to Liquidate
by Marlena Haddad on 2023-03-16 at 5:56pm

After announcing its intent to liquidate yesterday, Blockchain Moon Acquisition Corp.(NASDAQ:BMAQ) disclosed this afternoon that it no longer plans to dissolve its trust and will instead continue its search for an alternative target to combine with.

The decision to liquidate followed the SPAC’s unilateral termination of its $163 million deal with Web 3.0 infrastructure builder DLTx ASA (OSX:DLTX). Just yesterday, Blockchain Moon’s sponsor, Jupiter Sponsor LLC, stated that due to the deal termination, it would not contribute any additional funds to its trust account.

But, the SPAC has now retracted its statement and the sponsor anticipates that it will continue to contribute funds to the SPAC’s trust.

Blockchain Moon initially planned on funding the DLTx deal with $115.8 million from its trust, but redemptions took out 84.56% of the account during an extension vote held in October 2022, leaving it with $17.87 million post-vote. The SPAC has already used 2 of its 6 one-month extensions and if it plans to use the rest of its extensions available, it will have until July 21 to complete a business combination.

Blockchain Moon Acquisition Corp. (BMAQ) Reverses Decision to Liquidate
Recent Posts
by Kristi Marvin on 2025-07-14 at 9:19am

This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...

by Nicholas Alan Clayton on 2025-07-14 at 8:30am

At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...

by Kristi Marvin on 2025-07-12 at 10:02am

Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...

by Nicholas Alan Clayton on 2025-07-11 at 8:24am

At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...

by Kristi Marvin on 2025-07-10 at 8:31am

A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved