Daily SPAC Update – April 23, 2025

by | Apr 23, 2025

Compass Digital and Technology & Telecommunication Extensions Approved. Flagship Switches Deals. GSR III + Terra Innvatum Deal.

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Daily SPAC Update

SPAC VOTE RESULTS
CDAQ – COMPASS DIGITAL ACQUISITION CORP * Extend to Apr 19, 2026 * 2,370,619 redeemed * $26,669,463.75 removed * trust $11.25
TETEF – TECHNOLOGY & TELECOMMUNICATION ACQUISITION CORP * Extend to Aug 20, 2025 * 3,561 redeemed

EXTENSION VOTES
AEAE – ALTENERGY ACQUISITION CORP * extend from May 2, 2025 to May 1, 2026
DYCQ – DT CLOUD ACQUISITION CORP * extend to August 23, 2026

OTHER SPAC NEWS
AACT – ARES ACQUISITION CORP II * Redemption Update
FSHP – FLAG SHIP ACQUISITION CORP * Merger Agreement
DECA – DENALI CAPITAL ACQUISITION CORP * Merger Agreement Amendment
SUAC – SHOULDERUP TECHNOLOGY ACQUISITION CORP * Non-Redemption Agreement

SPAC DEALS ANNOUNCED
Apr 22 | FSHP – Flag Ship Acquisition Corp + Great Future Technology Inc

Apr 22 | GSRT – GSR III Acquisition Corp + Terra Innovatum s.r.l.

ABOUT Terra Innovatum s.r.l.
Terra Innovatum is a pioneering force in the energy sector, dedicated to delivering innovative and sustainable power solutions. Terra Innovatum plans to leverage cutting-edge nuclear technology through the SOLO™ Micro-Modular Reactor (SMR™) to provide efficient, safe, and environmentally conscious energy. With a mission to address global energy shortages, Terra Innovatum combines extensive expertise in nuclear industry design, manufacturing, and installation licensing to offer disruptive and immediate solutions. Committed to propelling technological advancements, Terra Innovatum and SOLO™ are dedicated to fostering prosperity and sustainability for humankind. It is anticipated that SOLO™ will be available globally within the next three years. Conceptualized in 2018 and engineered over five years by experts in nuclear safety, licensing, innovation, and R&D, SOLO™ addresses pressing global energy demands with a market-ready solution. Built from readily available commercial off-the-shelf components, the proven licensing path for SOLO™ enables rapid deployment and minimizes supply chain risks, ensuring final cost predictability. Designed to adapt with evolving fuel options, SOLO™ supports both LEU+ and HALEU, offering a platform ready to transition to future fuel supplies. SOLO™ will offer a wide range of versatile applications, providing CO2-free, behind-the-meter, and off-grid power solutions for data centers, mini-grids serving remote towns and villages, and large-scale industrial operations in hard-to-abate sectors like cement production, oil and gas, steel manufacturing, and mining. It also supports specialized heat supply processes, water treatment, and desalination. Thanks to its modular design, SOLO™ can easily scale to deliver up to 1GW or more of CO2-free power with a minimal footprint, making it an ideal solution for rapidly replacing fossil fuel-based thermal plants. Beyond electricity and heat generation, SOLO™ can also contribute to critical applications in the medical sector by producing radioisotopes essential for oncology research and cancer treatment.

Apr 21 | PPYA – Papaya Growth Opportunity Corp I + PX Energy

ABOUT PX Energy
PX Energy (www.pxenergy.com.br) operates a vertically integrated petroleum refining, recycling facility and mining operation in southern Brazil and has successfully been in continuous operation since the 1990s. PX Energy is specialized in the production of fuel oil, naphtha, LPG, fuel gas, sulfur, and fertilizer inputs. PX Energy has established itself as a global leader in oil shale research, exploration, and processing. The company is reinforcing its commitment to innovation, energy efficiency, and sustainable development in the refining sector. The company utilizes an advanced pyrolysis process, a heating method conducted in an oxygen-free environment, which efficiently extracts kerogen from oil shale. PX Energy’s infrastructure includes a modern mining facility, a pyrolysis reactor, oil processing units, and treatment systems, ensuring maximum operational efficiency while adhering to environmental standards. Since being acquired by Forbes & Manhattan from Petrobras in November 2022, PX Energy has experienced remarkable growth, and now produces over 1,500,000 barrels of oil equivalent per year. The company has expanded by approximately 40% between November 2022 and November 2024, reinforcing its commitment to innovation, energy efficiency, and sustainable growth.

SPAC DEAL TERMINATIONS (Last 10 Days)
20205-04-18: FSHP + Great Rich Technologies Limited

YESTERDAY’S TOP SPAC GAINERS
7.56% ~ $ 11.67 | HCVI – HENNESSY CAPITAL INVESTMENT CORP VI (Announced)
2.33% ~ $ 11.87 | DIST – DISTOKEN ACQUISITION CORP (Announced)
1.48% ~ $ 10.95 | BUJA – BUKIT JALIL GLOBAL ACQUISITION 1 LTD (Announced)
1.43% ~ $ 11.35 | CCIR – COHEN CIRCLE ACQUISITION CORP I (Announced)

YESTERDAY’S TOP SPAC LOSERS
-9.95% ~ $ 11.50 | MSSA – METAL SKY STAR ACQUISITION CORP (Pre-Deal)
-5.93% ~ $ 11.43 | DECA – DENALI CAPITAL ACQUISITION CORP (Announced)
-1.67% ~ $ 10.62 | CEP – CANTOR EQUITY PARTNERS INC (Pre-Deal)
-.29% ~ $ 10.15 | BSII – BLACK SPADE ACQUISITION II CO (Announced)
-.29% ~ $ 10.35 | FSHP – FLAG SHIP ACQUISITION CORP (Announced)

LATEST SPAC IPO PERFORMANCE
Apr 10 | $ 9.99 | TACH – Titan Acquisition Corp.
Apr 03 | $ 10.00 | SZZL – Sizzle Acquisition Corp. II
Apr 03 | $ 10.00 | SOUL – Soulpower Acquisition Corp.
Apr 01 | $ 10.05 | SDHI – Siddhi Acquisition Corp
Mar 31 | $ 10.08 | UYSC – UY Scuti Acquisition Corp.

Recent Analysis

Daily SPAC Update – April 21, 2025

Papaya Growth Opportunity (PPYA) + PX Energy Deal Announced. FERA, RAC, LOKV Separate Trading. Globalink and IX Acquisition Amend Merger Agreements.

Daily SPAC Update – April 16, 2025

Denali Capital Extension Approved. Compass Digital and Technology & Telecommunications Extension Votes Today. Pyrophyte Sets Extension Vote. Newhold III Separate Trading.

Daily SPAC Update – April 14, 2025

Ares Acquisition + Kodiak Robotics Deal Announced. More Deal Terminations. Focus Impact BH3 Extends and Auditor Changed. Altenergy and Healthcare AI Extension Votes Set.

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