Liquidation Alert: Electrum Special Acquisition Corporation
In an 8-K filed this morning, Electrum Special Acquisition Corporation, a $200 million SPAC IPO, announced its intentions to dissolve and liquidate the trust. Electrum Special estimates the per share redemption price for shareholders will be $10.48
As of the close of business on June 5, 2018, Electrum’s public shares will be deemed cancelled and will represent only the right to receive the redemption amount. Redemption of the shares will take place ten business days after June 5th, which is estimated to be June 19th.
As of Electrum’s most recent 10-Q, only $128.4 million remained in the Trust Account following redemptions from prior deadline extensions. The SPAC sponsor will lose the $7.025 million used to purchase the private placement warrants in the IPO that brought the per-share amount held in trust to an initial value of $10.00 per unit. The underwriters will lose their deferred underwriting fee as well, estimated to be approximately $5 million.
Electrum’s shares (ELEC) are currently trading at the trust value of $10.48


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...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...
Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...