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Black Hawk Acquisition CorpBKHA

Class A BKHAUnits BKHAURights BKHARCIK 0002000775

Cash in trust

$26.0M

$25,993,300

Trust per share

$12.24

Redemption value

IPO

Mar 2024

$69.0M raised

Combination deadline

Jun 22, 2025

Deadline passed

Filings on record

116

Latest Oct 23, 2026

Business combination

Target
Not disclosed in an indexed filing
Announced
Apr 29, 2025

Overview

Black Hawk Acquisition Corp is a special purpose acquisition company incorporated and registered with the SEC under CIK 0002000775. It completed its initial public offering in Mar 2024, raising $69.0M in gross proceeds and listing on Nasdaq. Class A shares trade under the ticker BKHA, units under BKHAU, rights under BKHAR on Nasdaq. The vehicle is sponsored by Black Hawk. Definitive business-combination agreement signed, closing pending.

Reading the filings

Arithmetic on what Black Hawk Acquisition Corp has disclosed, written the way a desk would read it. These are observations, not a rating. Nothing here scores the vehicle or implies a view on it.

  • Trust versus the $10 unit

    The trust holds $12.24 per public share, 22.4% above the $10.00 the units were sold at. That spread is accrued interest on the trust and, where the charter provides for it, sponsor contributions paid in to buy more time. It is the floor a public shareholder can redeem at, not a valuation of the business.

  • Time on the clock

    The stated combination deadline of Jun 22, 2025 has passed without a closing in our filing record. Either an extension was approved that we have not yet indexed, or the vehicle is in wind-down. Check the latest proxy statement.

Where it is in its life

From listing to the date Black Hawk Acquisition Corp must close a deal, extend again, or return the trust. The marker is today.

IPO Mar 22, 2024Deadline Jun 22, 2025947 days in490 days past the deadline
How busy it has been

Filings per month since the first one. A vehicle that has gone quiet with a deadline ahead is a different proposition from one that is still working.

16802023-122026-10

116 filings in all. 13 in the last three months, against a busiest month of 16.

Scores

Recomputed 2d ago

Three readings of Black Hawk Acquisition Corp, each an unweighted mean of the components shown beneath it, and each component a percentile against every live SPAC rather than an absolute we invented. They describe the setup, not the merit. How they are built

Edge

Elevated

How much does the structure protect a holder right now?

53/100

  • Trust accretion96

    $12.24 per share

  • Runway9

    -488 days

Edge reads the setup, not the business. A vehicle can score well on protection and still be a poor place to leave money once a deal closes.

FOMO

Elevated

How much attention is this vehicle attracting right now?

67/100

  • Filing activity83

    6 in 30 days

  • News coverage76

    3 stories in 30 days

  • News tone73

    positive

  • Deal freshness34

    announced 542 days ago

Attention is not quality. FOMO rises on news volume and on the market paying above trust, both of which have preceded plenty of disappointments.

Potential

Elevated

How likely is this vehicle to complete a combination, and at what scale?

51/100

  • Trust scale17

    $26M

  • Stage85

    definitive agreement signed

Potential is about execution, not about the target. It says nothing about whether the eventual deal is worth owning, because the target is usually unknown when the score is computed.

These are derived measures, not ratings of investment merit. They carry no view on the target, no price target and no recommendation, and a high score is not a reason to buy anything.

News on Black Hawk Acquisition Corp

Last 90 days

SEC filing history

Free tier: filings older than 24 hours
  • 8-K

    Other events

    Item 8.01 · Accession 0001829126-26-011490

    Oct 23, 2026

    2d ago

    View on EDGAR ↗
  • 8-K

    Submission of matters to a vote of security holders

    Item 5.07 · Accession 0001829126-26-011077

    Oct 13, 2026

    12d ago

    View on EDGAR ↗
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001140361-26-038899

    Oct 7, 2026

    18d ago

    View on EDGAR ↗
  • 10-Q

    Quarterly report

    Accession 0001829126-26-010813

    Oct 6, 2026

    19d ago

    View on EDGAR ↗
  • 425

    Business-combination communication

    Accession 0001829126-26-010391

    Sep 24, 2026

    1mo ago

    View on EDGAR ↗
  • 8-K

    Entry into a material definitive agreement

    Items 1.01, 3.02, 9.01 · Accession 0001829126-26-010385

    Sep 24, 2026

    1mo ago

    View on EDGAR ↗
  • 8-K

    Other events

    Item 8.01 · Accession 0001829126-26-010313

    Sep 22, 2026

    1mo ago

    View on EDGAR ↗
  • 424B4

    Final IPO prospectus

    Accession 0001829126-26-010292

    Sep 22, 2026

    1mo ago

    View on EDGAR ↗
  • EFFECT

    Notice of effectiveness

    Accession 9999999995-26-002988

    Sep 18, 2026

    1mo ago

    View on EDGAR ↗
  • S-4/A

    S-4/A

    Accession 0001829126-26-009732

    Sep 4, 2026

    1mo ago

    View on EDGAR ↗
  • 8-K

    Entry into a material definitive agreement

    Items 1.01, 2.03, 3.02, 9.01 · Accession 0001829126-26-009347

    Aug 26, 2026

    2mo ago

    View on EDGAR ↗
  • 8-K

    Other events

    Item 8.01 · Accession 0001829126-26-009270

    Aug 24, 2026

    2mo ago

    View on EDGAR ↗
  • S-4/A

    S-4/A

    Accession 0001829126-26-008251

    Aug 1, 2026

    2mo ago

    View on EDGAR ↗
  • 8-K

    Other events

    Item 8.01 · Accession 0001829126-26-007744

    Jul 22, 2026

    3mo ago

    View on EDGAR ↗
  • 10-Q

    Quarterly report

    Accession 0001829126-26-007603

    Jul 15, 2026

    3mo ago

    View on EDGAR ↗
  • S-4/A

    S-4/A

    Accession 0001829126-26-007231

    Jul 3, 2026

    3mo ago

    View on EDGAR ↗
  • S-4/A

    S-4/A

    Accession 0001829126-26-006338

    Jun 11, 2026

    4mo ago

    View on EDGAR ↗
  • 8-K

    Entry into a material definitive agreement

    Items 1.01, 2.03, 3.02, 9.01 · Accession 0001829126-26-004870

    May 8, 2026

    5mo ago

    View on EDGAR ↗
  • S-4/A

    S-4/A

    Accession 0001829126-26-004346

    May 1, 2026

    5mo ago

    View on EDGAR ↗
  • 10-K/A

    10-K/A

    Accession 0001829126-26-004046

    Apr 28, 2026

    6mo ago

    View on EDGAR ↗
  • 10-Q

    Quarterly report

    Accession 0001829126-26-003670

    Apr 20, 2026

    6mo ago

    View on EDGAR ↗
  • NT 10-Q

    Late quarterly report notification

    Accession 0001829126-26-003495

    Apr 14, 2026

    6mo ago

    View on EDGAR ↗
  • 8-K

    Notice of delisting or failure to satisfy a listing rule

    Item 3.01 · Accession 0001829126-26-003042

    Apr 1, 2026

    6mo ago

    View on EDGAR ↗
  • 8-K

    Regulation FD disclosure

    Items 5.02, 7.01, 9.01 · Accession 0001829126-26-002413

    Mar 17, 2026

    7mo ago

    View on EDGAR ↗
  • 10-K

    Annual report

    Accession 0001829126-26-002021

    Mar 6, 2026

    7mo ago

    View on EDGAR ↗
  • S-4/A

    S-4/A

    Accession 0001829126-26-001934

    Mar 5, 2026

    7mo ago

    View on EDGAR ↗
  • NT 10-K

    Late annual report notification

    Accession 0001829126-26-001802

    Mar 2, 2026

    7mo ago

    View on EDGAR ↗
  • 8-K

    Entry into a material definitive agreement

    Items 1.01, 2.03, 3.02, 9.01 · Accession 0001829126-26-001472

    Feb 19, 2026

    8mo ago

    View on EDGAR ↗
  • 8-K

    Current report

    Item 5.02 · Accession 0001829126-26-000910

    Feb 3, 2026

    8mo ago

    View on EDGAR ↗
  • S-4/A

    S-4/A

    Accession 0001829126-26-000517

    Jan 23, 2026

    9mo ago

    View on EDGAR ↗

Pro

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Black Hawk Acquisition Corp: questions answered

What is Black Hawk Acquisition Corp (BKHA)?

Black Hawk Acquisition Corp is a special purpose acquisition company incorporated and registered with the SEC under CIK 0002000775. It completed its initial public offering in Mar 2024, raising $69.0M in gross proceeds and listing on Nasdaq. Class A shares trade under the ticker BKHA, units under BKHAU, rights under BKHAR on Nasdaq. The vehicle is sponsored by Black Hawk. Definitive business-combination agreement signed, closing pending.

How much does Black Hawk Acquisition Corp hold in trust?

Approximately $25,993,300, or about $12.24 per public share, as at the most recent filing on record. Trust balances move: shareholders redeem at extension votes and at the combination vote, and sponsors pay contributions in to extend. Treat the figure as a point-in-time disclosure, not a running balance.

When must Black Hawk Acquisition Corp complete a merger?

By Jun 22, 2025. If no combination closes by then the sponsor must seek a further extension or wind the vehicle up and return the trust.

What happens if Black Hawk Acquisition Corp does not find a target in time?

The charter requires the vehicle to redeem 100% of the public shares and return the trust, pro rata, to public shareholders. That is the mechanism working as designed rather than a default. Founder shares and warrants are worthless in that outcome, which is why the sponsor's incentive is to get a deal done or to buy more time. Across the market, deadline lapsed without a deal; trust returned to public shareholders.

Can I redeem shares in Black Hawk Acquisition Corp, and at what price?

Public shareholders may elect to redeem in connection with a combination vote and at each extension vote, at the pro-rata trust value on the relevant record date, most recently disclosed at about $12.24 per share. Redemption is a right attached to the public shares only; warrants and rights carry no claim on the trust. The mechanics and the deadline for electing are set out in the proxy statement for the vote in question.

What tickers does Black Hawk Acquisition Corp trade under?

Class A shares trade as BKHA on Nasdaq, the units as BKHAU, with rights as BKHAR. Units trade first and separate into their component securities roughly 52 days after the IPO; only the Class A shares carry the redemption right against the trust.

Is the trust value the same as the share price for Black Hawk Acquisition Corp?

No, and the gap between them is the whole trade. Trust per share is a disclosed, contractual figure of $12.24, being what a redeeming holder receives. The market price is whatever the shares change hands at: most recently $5.40, a spread to the redemption value. Quotes on this site are delayed and indicative; confirm on your own venue before trading.

Who sponsors Black Hawk Acquisition Corp, and what is their track record?

Black Hawk is the sponsor entity, part of the Black Hawk franchise. This is the only vehicle we have attributed to that sponsor.

Is Black Hawk Acquisition Corp tradeable, and where?

Yes. BKHA returned a live quote of $5.40 on Nasdaq. Quotes here are delayed and refreshed on a schedule rather than streamed, so treat the figure as indicative and confirm on your own venue. Units and warrants trade under their own symbols and are quoted separately.

Is Black Hawk Acquisition Corp a good investment?

That is not a question this site answers. Black Hawk Acquisition Corp is covered here as reference data: what the company filed, when it filed it, and what the numbers in those filings say. The Edge, FOMO and Potential scores on this page are derived measures with a published formula, not ratings of investment merit: they describe the setup, and every component is shown so you can take them apart. We publish no price targets and no recommendations, and nothing here should be read as advice. The figures are a starting point for your own work, and each one carries the accession number of the filing it came from.

Where does this Black Hawk Acquisition Corp data come from?

Filings Black Hawk Acquisition Corp submitted to the SEC under CIK 0002000775: the registration statement and final prospectus for the structure, quarterly and annual reports for the trust, current reports and proxy statements for deals, votes and extensions. Trust economics are taken from the registrant's own XBRL tags rather than parsed from prose, which is why they are exact. Every filing in the history above is listed with its accession number, which identifies the document uniquely on EDGAR; Pro accounts open it directly from the row.

Compiled by the SPACListing research desk

Last reconciled Oct 25, 2026

Every figure on this page is read from documents the registrants filed with the U.S. Securities and Exchange Commission, principally the IPO prospectus (Form 424B4), quarterly and annual reports, current reports and proxy statements, the registrant's own XBRL tags for trust economics. Nothing is sourced from press coverage, from the companies themselves, or from a third-party aggregator. Where a filing does not disclose something, the field is left blank rather than estimated.

Read the full methodology · What is in the dataset · Report a correction

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The context around this vehicle: who else the sponsor has launched, which banks priced it, and where it sits in the wider market.