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The SPAC market in March 2026

12 IPOs, 5 deals announced, 7 closed, 6 wound up in the U.S. SPAC market in March 2026, with trust sizes, targets and outcomes, compiled from SEC filings.

Published Apr 1, 2026 · Updated Oct 2, 2026 · SPACListing research desk

March 2026 produced 12 IPOs, 5 deals announced, 7 closed, 6 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

12 SPACs priced an IPO in March 2026, putting $1.7B into trust between them.

  • PRESIDIO PRODUCTION Co (FTW)
  • Kensington Capital Acquisition Corp. VI (KCA-UN), $233M
  • GalaxyEdge Acquisition Corp (GLED), $116M
  • SUMA Acquisition Corp (SUMA), $174M
  • Metals Acquisition Corp. II (MTAL), $232M
  • Pono Capital Four, Inc. (PONO), $121M
  • BHAV Acquisition Corp (BHAV), $101M
  • Blue Water Acquisition Corp. IV (BWIV), $131M
  • CYABRA, INC. (CYAB)
  • Future Money Acquisition Corp (FMAC), $113M
  • QDRO Acquisition Corp. (QADR), $202M
  • Inflection Point Acquisition Corp. VI (IPFX), $255M

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.

  • Bleichroeder Acquisition Corp. II (BBCQ), $292M
  • PANTAGES CAPITAL ACQUISITION Corp (PGAC), $29.3M
  • Lake Superior Acquisition Corp (LKSP), $118M
  • New Providence Acquisition Corp. III/Cayman (NPAC), $315M
  • Eureka Acquisition Corp (EURK), $33.5M

Approved by shareholders

5 combinations 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.

  • dMY Squared Technology Group, Inc., $27.3M
  • XANADU QUANTUM TECHNOLOGIES FORMER SPAC INC., $226M
  • Odysseus (Cayman) Ltd, $234M
  • Relativity Acquisition Corp (ACQC), $713K
  • Silvia, Inc. (BRR)

Closed

7 de-SPACs completed in March 2026. The shell is gone and the target trades in its place.

  • Eagle Nuclear Energy Corp. (NUCL)
  • PRESIDIO PRODUCTION Co (FTW)
  • Joby Aviation, Inc. (JOBY), $690M
  • dMY Squared Technology Group, Inc., $27.3M
  • Merlin, Inc. (MRLN), $262M
  • Greenland Energy Co (GLND)
  • CYABRA, INC. (CYAB)

Wound up

6 vehicles ran out of time and returned $915M to shareholders. Liquidation is the ordinary outcome for a SPAC that never finds a target, not a failure of the structure.

  • Presidio MidCo Inc., $367M
  • Lavoro Ltd (LVROF)
  • Pelican Acquisition Corp, $88.6M
  • XANADU QUANTUM TECHNOLOGIES FORMER SPAC INC., $226M
  • Orielle Acquisition Corp.
  • Odysseus (Cayman) Ltd, $234M

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.