In light of the recent failure of Silicon Valley Bank and Signature Bank, there have been some inquiries as to where SPAC trusts are held. Continental Stock Transfer & Trust had already confirmed that Silicon Valley Bank was not one of their approved asset managers and therefore none of the SPACs that used Continental as a Trustee would be in danger of having their funds held there. Additionally Continental is the currently the Trustee for 93.8% of all active SPACs.
However, there are still some questions regarding segregation of accounts and the like, so Continental recently put together the following statement.
INFORMATION REGARDING CONTINENTAL’S SPAC TRUST ACCOUNTS:
Please be advised that Continental Stock Transfer & Trust Company maintains hundreds of SPAC trust accounts, all of which are segregated accounts. None of those accounts are held at Silicon Valley Bank or Signature Bank.
With regard to our SPAC trust accounts held at qualified financial institutions, accounts which are invested in treasury bills or Rule 2A-7 compliant money market funds are not part of the financial institution’s capital or balance sheet.
Uninvested deposits or demand deposits are however part of that institution’s capital and balance sheet. In this regard, you should gain comfort from the fact that all of Continental’s SPAC demand deposit accounts and deposit accounts are held only at JP Morgan Chase, Citibank or Morgan Stanley.


Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...