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The SPAC market in November 2025

9 IPOs, 4 deals announced in the U.S. SPAC market in November 2025, with trust sizes, targets and outcomes, compiled from SEC filings.

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

November 2025 produced 9 IPOs, 4 deals announced 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

9 SPACs priced an IPO in November 2025, putting $1.4B into trust between them.

  • Cantor Equity Partners V, Inc. (CEPV)
  • Westin Acquisition Corp (WSTN), $58.4M
  • Crown Reserve Acquisition Corp. I (CRAC), $176.5M
  • Tailwind 2.0 Acquisition Corp. (TDWD), $176.5M
  • Blueport Acquisition Ltd (BPAC), $58.8M
  • Evolution Global Acquisition Corp (EVOX), $245.5M
  • Alussa Energy Acquisition Corp. II (ALUB), $294.1M
  • Invest Green Acquisition Corp (IGAC), $176.2M
  • SC II Acquisition Corp. (SCII), $175.9M

Deals announced

4 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.

  • Legato Merger Corp. III, $220.9M
  • Columbus Acquisition Corp/Cayman Islands (COLA), $27.2M
  • Blue Acquisition Corp/Cayman (BACC), $209.3M
  • Soulpower Acquisition Corp. (SOUL), $262.2M

Approved by shareholders

1 combination went to a vote and passed. At that point the redemption window has run and what remains in trust is what the deal has to work with.

  • Integral Acquisition Corp 1, $4.1M

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.