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Cayson Acquisition CorpCAPN

Class A CAPNUnits CAPNURights CAPNRCIK 0002024203

Cash in trust

$38.3M

$38,331,573

Trust per share

$11.08

Redemption value

IPO

Sep 2024

$60.0M raised

Combination deadline

Not disclosed

Filings on record

89

Latest Aug 28, 2026

Business combination

Target
Not disclosed in an indexed filing
Announced
Jul 14, 2025

Overview

Cayson Acquisition Corp is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0002024203. It completed its initial public offering in Sep 2024, raising $60.0M in gross proceeds and listing on Nasdaq. Class A shares trade under the ticker CAPN, units under CAPNU, rights under CAPNR on Nasdaq. The vehicle is sponsored by Yawei Cao and Cayson through Yawei Cao and Cayson Holding LP. The mandate targets generalist. Definitive business-combination agreement signed, closing pending.

we intend to focus our search on businesses throughout Asia.
The mandate, as stated in the IPO prospectus
GeneralistAsia-Pacific

Reading the filings

Arithmetic on what Cayson 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.

  • Trading at a premium to trust

    At $11.20 the shares trade 1.08% above the $11.08 redemption floor. Above trust the market is paying for the announced or expected deal rather than for the cash, so the premium is what is at risk if the combination does not close.

  • Trust versus the $10 unit

    The trust holds $11.08 per public share, 10.8% 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.

  • Underwriting

    EarlyBirdCapital led the offering. It has been named on 52 SPAC IPOs, and 23.1% of its resolved vehicles closed a deal. The syndicate has no control over whether a sponsor finds a target, but the quality of the book at pricing shapes who ends up holding the units.

Scores

Recomputed 6m ago

Three readings of Cayson 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?

59/100

  • Discount to trust25

    -1.08%

  • Trust accretion92

    $11.08 per share

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

Moderate

How much attention is this vehicle attracting right now?

41/100

  • Filing activity56

    3 in 30 days

  • News coverage0

    0 stories in 30 days

  • Premium to trust75

    1.08%

  • Deal freshness32

    announced 417 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?

60/100

  • Lead bank record86

    23.1%

  • Bank franchise60

    52 SPAC mandates

  • Trust scale9

    $38M

  • 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.

SEC filing history

Free tier: filings older than 24 hours
  • PRE 14A

    PRE 14A

    Accession 0001493152-26-040575

    Aug 28, 2026

    7d ago

    Open filing
  • 8-K

    Other events

    Item 8.01 · Accession 0001493152-26-040242

    Aug 26, 2026

    8d ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001493152-26-036602

    Aug 7, 2026

    27d ago

    Open filing
  • F-4/A

    F-4/A

    Accession 0001493152-26-035630

    Jul 31, 2026

    1mo ago

    Open filing
  • 8-K

    Other events

    Item 8.01 · Accession 0001493152-26-034317

    Jul 23, 2026

    1mo ago

    Open filing
  • 425

    Business-combination communication

    Accession 0001493152-26-034308

    Jul 23, 2026

    1mo ago

    Open filing
  • F-4/A

    F-4/A

    Accession 0001493152-26-033753

    Jul 17, 2026

    1mo ago

    Open filing
  • 425

    Business-combination communication

    Accession 0001493152-26-030136

    Jun 25, 2026

    2mo ago

    Open filing
  • 8-K

    Entry into a material definitive agreement

    Items 1.01, 9.01 · Accession 0001493152-26-030134

    Jun 25, 2026

    2mo ago

    Open filing
  • 425

    Business-combination communication

    Accession 0001493152-26-029808

    Jun 23, 2026

    2mo ago

    Open filing
  • 8-K

    Other events

    Item 8.01 · Accession 0001493152-26-029805

    Jun 23, 2026

    2mo ago

    Open filing
  • F-4/A

    F-4/A

    Accession 0001493152-26-025043

    May 22, 2026

    3mo ago

    Open filing
  • 425

    Business-combination communication

    Accession 0001493152-26-024904

    May 22, 2026

    3mo ago

    Open filing
  • 8-K

    Other events

    Item 8.01 · Accession 0001493152-26-024903

    May 22, 2026

    3mo ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001493152-26-023854

    May 15, 2026

    3mo ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001282327-26-000005

    May 15, 2026

    3mo ago

    Open filing
  • SCHEDULE 13G

    Beneficial ownership report (passive)

    Accession 0002048251-26-003767

    May 15, 2026

    3mo ago

    Open filing
  • F-4/A

    F-4/A

    Accession 0001493152-26-021996

    May 8, 2026

    3mo ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001628280-26-032335

    May 7, 2026

    3mo ago

    Open filing
  • 8-K

    Notice of delisting or failure to satisfy a listing rule

    Item 3.01 · Accession 0001493152-26-019359

    Apr 28, 2026

    4mo ago

    Open filing
  • 425

    Business-combination communication

    Accession 0001493152-26-018642

    Apr 23, 2026

    4mo ago

    Open filing
  • 8-K

    Other events

    Item 8.01 · Accession 0001493152-26-018640

    Apr 23, 2026

    4mo ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001140361-26-015634

    Apr 20, 2026

    4mo ago

    Open filing
  • F-4/A

    F-4/A

    Accession 0001493152-26-016931

    Apr 15, 2026

    4mo ago

    Open filing
  • 10-K

    Annual report

    Accession 0001493152-26-012409

    Mar 24, 2026

    5mo ago

    Open filing
  • 425

    Business-combination communication

    Accession 0001493152-26-011867

    Mar 20, 2026

    5mo ago

    Open filing
  • 8-K

    Entry into a material definitive agreement; Submission of matters to a vote of security holders

    Items 1.01, 2.03, 5.03, 5.07, 9.01 · Accession 0001493152-26-011864

    Mar 20, 2026

    5mo ago

    Open filing
  • DEFA14A

    Additional proxy soliciting material

    Accession 0001493152-26-009953

    Mar 13, 2026

    5mo ago

    Open filing
  • DEF 14A

    Definitive proxy statement

    Accession 0001493152-26-007788

    Feb 23, 2026

    6mo ago

    Open filing
  • PRE 14A

    PRE 14A

    Accession 0001493152-26-006466

    Feb 12, 2026

    6mo ago

    Open filing

Cayson Acquisition Corp: questions answered

What is Cayson Acquisition Corp (CAPN)?

Cayson Acquisition Corp is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0002024203. It completed its initial public offering in Sep 2024, raising $60.0M in gross proceeds and listing on Nasdaq. Class A shares trade under the ticker CAPN, units under CAPNU, rights under CAPNR on Nasdaq. The vehicle is sponsored by Yawei Cao and Cayson through Yawei Cao and Cayson Holding LP. The mandate targets generalist. Definitive business-combination agreement signed, closing pending.

How much does Cayson Acquisition Corp hold in trust?

Approximately $38,331,573, or about $11.08 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 Cayson Acquisition Corp complete a merger?

No combination deadline appears in the filings we have indexed. The date is stated in the charter and repeated in each quarterly report; where our parser could not establish it with confidence we leave it blank rather than infer one.

What happens if Cayson 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 Cayson 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 $11.08 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 Cayson Acquisition Corp trade under?

Class A shares trade as CAPN on Nasdaq, the units as CAPNU, with rights as CAPNR. 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 Cayson Acquisition Corp?

No, and the gap between them is the whole trade. Trust per share is a disclosed, contractual figure of $11.08, being what a redeeming holder receives. The market price is whatever the shares change hands at: most recently $11.20, a premium of 1.08% to the redemption value. Quotes on this site are delayed and indicative; confirm on your own venue before trading.

How much dilution do Cayson Acquisition Corp's founder shares and warrants create?

Both are disclosed in the prospectus and both survive into the combined company, which is why a de-SPAC at $10 is not economically the same as an IPO at $10.

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

Yawei Cao and Cayson Holding LP is the sponsor entity, part of the Yawei Cao and Cayson franchise. This is the only vehicle we have attributed to that sponsor. Named principals: Yawei Cao.

Which banks underwrote the Cayson Acquisition Corp IPO?

EarlyBirdCapital, Revere Securities. Syndicate membership and role are read from the prospectus cover and the underwriting section.

Is Cayson Acquisition Corp tradeable, and where?

Yes. CAPN returned a live quote of $11.20 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 Cayson Acquisition Corp a good investment?

That is not a question this site answers. Cayson 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 Cayson Acquisition Corp data come from?

Filings Cayson Acquisition Corp submitted to the SEC under CIK 0002024203: 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 Sep 4, 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

SPACListing is a reference-data service, not an investment adviser. Nothing here is a recommendation to buy or sell any security.

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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.