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The SPAC market in July 2025

11 IPOs, 5 deals announced, 2 closed, 13 wound up in the U.S. SPAC market in July 2025, with trust sizes, targets and outcomes, compiled from SEC filings.

Published Aug 1, 2025 · Updated Sep 7, 2026 · SPACListing research desk

July 2025 produced 11 IPOs, 5 deals announced, 2 closed, 13 wound up across the U.S. blank-check market. Everything below comes from the filings themselves, and every vehicle named links to its own record.

New vehicles

11 SPACs priced an IPO in July 2025, putting $1.7B into trust between them.

  • Cohen Circle Acquisition Corp. II (CCII)
  • Indigo Acquisition Corp. (INAC), $118.3M
  • 1RT Acquisition Corp. (ONCH), $179.0M
  • NMP Acquisition Corp. (NMP), $119.2M
  • Vendome Acquisition Corp I (VNME), $207.4M
  • EQV Ventures Acquisition Corp. II (EVAC), $477.2M
  • Origin Investment Corp I (ORIQ), $72.3M
  • Globa Terra Acquisition Corp (GTERA), $181.5M
  • Silver Pegasus Acquisition Corp. (SPEG)
  • Solarius Capital Acquisition Corp. (SOCA), $179.2M
  • Pyrophyte Acquisition Corp. II (PAII), $207.6M

Deals announced

5 vehicles signed a definitive business-combination agreement. An announcement starts the clock on a proxy, a shareholder vote and a redemption window, and a signed agreement is not a closed one.

  • Ribbon Acquisition Corp. (RIBB), $38.4M
  • Velos Acquisition I Corp. (VLOS), $312.3M
  • Cayson Acquisition Corp (CAPN), $38.3M
  • Cantor Equity Partners I, Inc. (CEPO), $211.2M
  • Dynamix Corp (DYNC), $176.1M

Closed

2 de-SPACs completed in July 2025. The shell is gone and the target trades in its place.

  • JVSPAC Acquisition Corp., $61.5M
  • Distoken Acquisition Corp, $7.6M

Wound up

13 vehicles ran out of time and returned $471.0M to shareholders. Liquidation is the ordinary outcome for a SPAC that never finds a target, not a failure of the structure.

  • Plum Acquisition Corp. III (PLMJF), $497.8K
  • Hudson Acquisition I Corp., $25.5M
  • Valuence Merger Corp. I (VMCAF), $5.9M
  • AI Transportation Acquisition Corp, $63.1M
  • Global Lights Acquisition Corp, $72.6M
  • Libity, $486.9K
  • Metal Sky Star Acquisition Corp (MSSAF), $60.8M
  • Cartesian Growth Corp II (RENEF), $38.4M
  • ClimateRock (CLRCF), $5.6M
  • Aimfinity Investment Corp. I, $14.3M
  • COLOMBIER ACQUISITION CORP. II, $179.5M
  • Aquaron Acquisition Corp., $1.4M

Compiled automatically from SEC filings on the day after the month ended. Figures are as filed; where a disclosure could not be reconciled it is left out rather than estimated.

Written from public SEC filings and market practice. Not investment, legal or tax advice, and no substitute for the document in front of you.