Abri SPAC I, Inc. (NASDAQ: ASPA) announced this afternoon that it has mutually terminated its combination with blockchain technology company Apifiny Group.
Abri I intends to seek an alternative business combination. And while Abri I currently has a transaction deadline of August 12, it is able to extend its original 12 months timeline two times (2x) for three months each by contributing $0.10 per share to its trust each time. Abri I announced the pricing of its $50 million IPO last summer on August 09, 2021, and initially intended to combine with a fintech target that has a diversified supplier base and an experienced management team. The SPAC is led by Chairman and CEO Jeffrey Tirman, EVP and CFO Nima Montazeri, and VP of Business Analytics Peter Bakker.
And while today’s press release kept details to a minimum, it is likely that unfavorable market conditions combined with a blockchain target that played a significant role in the termination. Abri’s termination comes just a week after Fortune Rise (NASDAQ:FRLA) terminated its deal with crypto mining business VCV Power Sigma, which was likely caused due to the sharp tumble in the crypto market.
Abri SPAC I originally announced its $530 million deal with Apifiny earlier this year on January 27, 2022. New York City-based Apifiny serves as a global cross-exchange digital asset trading network for institutions in a single platform. Abri originally brought in $57 million of cash into the deal from its trust account and did not feature a PIPE or a minimum cash closing condition.


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...