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July 21, 2025
News From the Past Week

Deal News

  • Cayson Acquisition Corp (CAPN) announced a deal to acquire Mango Financial Limited, a boutique investment bank in Hong Kong. The company intends to raise a $5mm common stock PIPE in connection with the deal, which reflects an equity value of $300mm and is expected to close in 2H 2025.

  • Cantor Equity Partners I, Inc. (CEPO) announced a deal to acquire BSTR, Holdings Inc., a company formed to catalyze the fusion of Bitcoin and capital markets. The deal includes a $1.5bn PIPE investment and is expected to close in Q4 2025.


Deal Closings & Approvals

  • Bannix Acquisition Corp. (formerly BNIX) closed its acquisition of VisionWave Technologies on Monday 7/14/2025 with less than 1% of public shares remaining. Ordinary shares and warrants are now trading on the NASDAQ as “VWAV” and “VWAVW.”
IPOs
Name Ticker Raised ($mm) Sector Cash in Trust Coverage
Pyrophyte II PAII 175 Energy 100.0% W/2
Silver Pegasus SPEG 100 Technology 100.0% R

New S-1's
Name Ticker Size ($mm) Underwriter Trust Funding Coverage
Cantor Equity Partners IV CEPF 400 Cantor 100.0% 0

Liquidations

Charter Extensions

  • SPKL extended its charter through 9/29/2026 with a monthly $0.015 per share sponsor contribution to trust. Approximately 22% of public shares remain, representing $24mm in trust.
  • BKHA extended its charter through 12/22/2025 with a monthly $150,000 ($0.07 per share) sponsor contribution to trust. Approximately 31% of public shares remain, representing $23mm in trust.
  • IRRX extended its charter through 9/15/2025 with a monthly $1 sponsor contribution to trust. Less than 1% of public shares remain, representing approximately $300k in trust.
  • NETD extended its charter through 7/18/2026 with a monthly $250,000 ($0.02 per share) sponsor contribution to trust. Approximately 45% of public shares remain, representing $152mm in trust.
  • CSLMF extended its charter through 10/18/2025 with a semi-monthly $150,000 ($0.02 per share) sponsor contribution to trust. Approximately 5% of public shares remain, representing $12mm in trust.
  • PLMJF extended its charter through 7/30/2026 with no sponsor contribution to trust. Redemption statistics were not provided.


Upcoming Meetings and Deadlines

  • 7/21/2025 BLUAF Charter extension meeting (liquidation deadline 8/2/2025)
  • 7/22/2025 KVAC Charter extension meeting (liquidation deadline 7/27/2025)
  • 7/24/2025 HYAC Charter extension meeting (liquidation deadline 7/28/2025)
  • 7/25/2025 WINV Xtribe approval meeting
  • 7/25/2025 IGTA AgileAlgo Holdings approval meeting (merger outside date 7/31/2025)
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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