On Tuesday, June 16th, LF Capital Acquisition Corp. (LFAC), held their shareholder vote to extend the SPAC’s maturity date by three months from June 22nd to September 22nd, to give them more time to find a target and close a deal. LFAC released their extension vote results today, showing only 13.5% of shareholders (2,089,939 out of 15,525,000) opted to redeem, bringing the cash in trust value down to an estimated $141.7 million. A good result.
For the remaining 13,435,061 public shares, management is contributing $0.03 per share to the trust for each of the next three months.
Of the 21 SPAC’s that are still searching or announced and trying to close their combinations, and have held an extension vote, 51.9% of public shares have opted to redeem, on average.
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...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...