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.
Terms Tracker for the Week Ending June 27, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. June continued its late-month rally with another five SPAC IPOs pricing this week, bringing the monthly total to 10 and the 2025 year-to-date count to...
Blueport (NASDAQ:BPACU) has filed for a $69 million SPAC that would bring another first-time sponsor team to market. The new SPAC is offering investors a right to a 1/6 share in each unit and it will have 15 months to complete a business combination. It is underwritten by Alliance Global Partners and will not be...
At the SPAC of Dawn The markets appear to poised to continue a rosy week with futures in the green in anticipation of PCE inflation readings. Space is one of the sectors feeling the most love recently and launch services firm Rocket Lab (NASDAQ:RKLB) is keeping up the momentum, scheduling two launches within 48 hours...
FIGX Acquisition Corp. (NASDAQ:FIGXU) announced the pricing of its $131 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “FIGXU”, Friday, June 27, 2025. The new SPAC aims to seek out a financial services target with a particular focus on wealth and asset managers with the potential to...
Yorkville Acquisition Corp. (NASDAQ:YORKU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “YORKU”, Friday, June 27, 2025. The new SPAC plans to combine with a target company in the telecom, media or technology sectors. Yorkville Acquisition Corp.’s management team is led...