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June 23, 2025

SPAC Conference
The 2025 SPAC Conference was a great success. See below for a copy of the slides from SPAC Research Founder Benjamin Kwasnick's presentation.
News From the Past Week

Deal Closings & Approvals

  • ShoulderUp Technology Acquisition Corp. (formerly SUAC) closed its acquisition of SEE ID on Friday 6/20/2025. Redemption statistics were not provided. Ordinary shares and warrants are set to begin trading on the NASDAQ as “DAIC” and “DAICW” Monday 6/23/2025.
IPOs
Name Ticker Raised ($mm) Sector Cash in Trust Coverage
Pioneer I PACH 220 General 100.0% 1/2
Axiom Intelligence AXIN 175 Industrial 100.0% R

New S-1's
Name Ticker Size ($mm) Underwriter Trust Funding Coverage
CSLM Digital Asset III KOYN 200 Cohen 100.0% 1/2
Solarius Capital SOCA 150 Stifel 100.5% 1/2
BM Acq BMOK 60 D. Boral 100.0% 1/2


Liquidations
None.

Charter Extensions

  • BAYA extended its charter through 12/19/2025 with a single $10,000 ($0.006 per share) sponsor contribution to trust. Approximately 29% of public shares remain, representing $19mm in trust.
  • WINV extended its charter through 9/17/2025 with a monthly $30,000 ($0.116 per share) sponsor contribution to trust. Approximately 2% of public shares remain, representing $3mm in trust.


Upcoming Meetings and Deadlines

  • 6/23/2025 BKHA Charter extension meeting (liquidation deadline 6/22/2025)
  • 6/24/2025 SLAMF Charter extension meeting (liquidation deadline 6/25/2025)
  • 6/24/2025 JVSA Hotel101 approval meeting (liquidation deadline 7/23/2025)
  • 6/25/2025 EURK Charter extension meeting (liquidation deadline 6/23/2025)
  • 6/26/2025 WTMA Charter extension meeting (liquidation deadline 6/30/2025)
  • 6/26/2025 WTMA Evolution Metals approval meeting (liquidation deadline 6/30/2025)
  • 6/26/2025 BRZH Charter extension meeting (liquidation deadline 6/26/2025)
  • 6/27/2025 GMFI Charter extension meeting
  • 6/27/2025 WINV Xtribe approval meeting (liquidation deadline 9/17/2025)
  • 6/28/2025 IROH Liquidation Deadline
Disclosures: Information is provided for informational purposes only and should not be relied upon as the basis for any investment decision nor considered as a recommendation or solicitation to buy or sell any securities. Site administrators may hold and trade in SPAC securities without notice.


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