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AnnouncedOTC4 extensions

Jaws Mustang Acquisition CorpJWSMF

Class A JWSMFCIK 0001831359

Cash in trust

$1.1M

$1,072,718

Trust per share

$10.00

Redemption value

IPO

Feb 2021

$1.0B raised

Combination deadline

Dec 4, 2026

46 days remaining

Filings on record

92

Latest Aug 11, 2026

Business combination

Target
Not disclosed in an indexed filing
Announced
Mar 8, 2024

Overview

Jaws Mustang Acquisition Corp is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0001831359. It completed its initial public offering in Feb 2021, raising $1.0B in gross proceeds and listing on OTC. Class A shares trade under the ticker JWSMF on OTC. The vehicle is sponsored by Jaws (Sternlicht) through Mustang Sponsor LLC. The mandate targets generalist. Definitive business-combination agreement signed, closing pending.

“We intend to focus our efforts on identifying a prospective target business with either all or a substantial portion of its activities in North America and/or Europe.”
The mandate, as stated in the IPO prospectus
GeneralistNorth AmericaEurope

Reading the filings

Arithmetic on what Jaws Mustang 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 $10.00 per public share, effectively the $10.00 the units were sold at, so little or no interest has accrued to the account yet.

  • Time on the clock

    46 days to the Dec 4, 2026 deadline. Inside ninety days a sponsor has three routes and no others: close, call a shareholder vote to extend (which opens a redemption window and usually costs a monthly contribution into the trust), or liquidate and return the cash. This is the window where redemption arithmetic starts to dominate the share price.

  • Extension history

    Shareholders have already approved 4 extensions. Each one opened a redemption window, so the public float and the trust are almost certainly smaller than at IPO, and each typically came with a sponsor contribution that lifts trust per share. A vehicle on its second or third extension is one where the sponsor is paying to keep the search alive.

  • Sponsor record

    Jaws (Sternlicht) has launched 6 vehicles. Of the 5 that have resolved, 3 closed a combination and 2 liquidated, a 60% completion rate. A sponsor's record is not a forecast, but it does tell you whether the team has taken a deal across the line before.

  • Underwriting

    Credit Suisse led the offering. It has been named on 118 SPAC IPOs, book-running 92 of them, and 58.3% 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.

Where it is in its life

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

IPO Feb 3, 2021Deadline Dec 4, 20262,084 days in · extended 4×46 days left
How many shares walked, vote by vote

At every shareholder vote holders may hand their shares back for their cash. Each bar is one vote, read out of the 8-K that reported it.

101M51M0Feb 6, 2023Feb 8, 2024Nov 29, 2024

104M shares handed back across 3 votes, 100% of the shares sold at IPO.

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.

17902020-112026-08

92 filings in all. 1 in the last three months, against a busiest month of 17.

Scores

Recomputed 15m ago

Three readings of Jaws Mustang 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

Low

How much does the structure protect a holder right now?

17/100

  • Trust accretion3

    $10.00 per share

  • Runway24

    46 days

  • Sponsor record24

    60.0%

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

Low

How much attention is this vehicle attracting right now?

6/100

  • Filing activity0

    0 in 30 days

  • News coverage0

    0 stories in 30 days

  • Deal freshness18

    announced 955 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

Moderate

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

44/100

  • Sponsor record24

    60.0%

  • Lead bank record31

    58.3%

  • Bank franchise75

    118 SPAC mandates

  • Trust scale5

    $1M

  • 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 Jaws Mustang Acquisition Corp

Last 90 days

Nothing in the last 90 days that names this vehicle. We attribute a story only when the release carries the ticker or the registered name, so an empty section means no press release or wire story matched — not that nothing was published. The filings below are the primary record either way.

SEC filing history

Free tier: filings older than 24 hours
  • 10-Q

    Quarterly report

    Accession 0001104659-26-094101

    Aug 11, 2026

    2mo ago

    View on EDGAR ↗
  • 10-Q

    Quarterly report

    Accession 0001104659-26-060336

    May 13, 2026

    5mo ago

    View on EDGAR ↗
  • 10-K

    Annual report

    Accession 0001104659-26-037836

    Mar 31, 2026

    6mo ago

    View on EDGAR ↗
  • 10-Q

    Quarterly report

    Accession 0001104659-25-111323

    Nov 13, 2025

    11mo ago

    View on EDGAR ↗
  • 10-Q

    Quarterly report

    Accession 0001410578-25-001671

    Aug 11, 2025

    1y ago

    View on EDGAR ↗
  • 10-Q

    Quarterly report

    Accession 0001410578-25-001335

    May 15, 2025

    1y ago

    View on EDGAR ↗
  • 10-K

    Annual report

    Accession 0001410578-25-000474

    Mar 26, 2025

    1y ago

    View on EDGAR ↗
  • DEFA14A

    Additional proxy soliciting material

    Accession 0001104659-24-124093

    Nov 29, 2024

    1y ago

    View on EDGAR ↗
  • 8-K

    Submission of matters to a vote of security holders

    Items 5.03, 5.07, 9.01 · Accession 0001104659-24-124091

    Nov 29, 2024

    1y ago

    View on EDGAR ↗
  • 10-Q

    Quarterly report

    Accession 0001410578-24-001987

    Nov 14, 2024

    1y ago

    View on EDGAR ↗
  • SC 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001172661-24-004951

    Nov 14, 2024

    1y ago

    View on EDGAR ↗
  • SC 13G/A

    COWEN AND COMPANY, LLC

    Accession 0001085146-24-005660

    Nov 13, 2024

    1y ago

    View on EDGAR ↗
  • DEF 14A

    Definitive proxy statement

    Accession 0001104659-24-116407

    Nov 12, 2024

    1y ago

    View on EDGAR ↗
  • PRE 14A

    PRE 14A

    Accession 0001104659-24-113527

    Nov 1, 2024

    1y ago

    View on EDGAR ↗
  • 8-K

    Entry into a material definitive agreement; Notice of delisting or failure to satisfy a listing rule; Other events

    Items 1.01, 2.03, 3.01, 8.01, 9.01 · Accession 0001104659-24-113524

    Nov 1, 2024

    1y ago

    View on EDGAR ↗
  • 25-NSE

    Notification of delisting

    Accession 0001143313-24-000109

    Nov 1, 2024

    1y ago

    View on EDGAR ↗
  • 10-Q

    Quarterly report

    Accession 0001410578-24-001450

    Aug 14, 2024

    2y ago

    View on EDGAR ↗
  • 10-Q

    Quarterly report

    Accession 0001410578-24-000878

    May 15, 2024

    2y ago

    View on EDGAR ↗
  • 10-K

    Annual report

    Accession 0001410578-24-000479

    Apr 16, 2024

    2y ago

    View on EDGAR ↗
  • NT 10-K

    Late annual report notification

    Accession 0001104659-24-041841

    Apr 1, 2024

    2y ago

    View on EDGAR ↗
  • 425

    Business-combination communication

    Accession 0001104659-24-034615

    Mar 14, 2024

    2y ago

    View on EDGAR ↗
  • 8-K

    Entry into a material definitive agreement

    Items 1.01, 2.03, 9.01 · Accession 0001104659-24-034614

    Mar 14, 2024

    2y ago

    View on EDGAR ↗
  • 425

    Business-combination communication

    Accession 0001104659-24-032291

    Mar 8, 2024

    2y ago

    View on EDGAR ↗
  • 8-K

    Regulation FD disclosure

    Items 7.01, 9.01 · Accession 0001104659-24-032288

    Mar 8, 2024

    2y ago

    View on EDGAR ↗
  • SC 13G

    Beneficial ownership report (passive)

    Accession 0001172661-24-001588

    Feb 14, 2024

    2y ago

    View on EDGAR ↗
  • SC 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001315863-24-000209

    Feb 12, 2024

    2y ago

    View on EDGAR ↗
  • 4

    Statement of changes in beneficial ownership

    Accession 0001104659-24-012478

    Feb 9, 2024

    2y ago

    View on EDGAR ↗
  • DEFA14A

    Additional proxy soliciting material

    Accession 0001104659-24-011850

    Feb 8, 2024

    2y ago

    View on EDGAR ↗
  • 8-K

    Submission of matters to a vote of security holders; Other events

    Items 5.03, 5.07, 8.01, 9.01 · Accession 0001104659-24-011839

    Feb 8, 2024

    2y ago

    View on EDGAR ↗
  • 8-K

    Notice of delisting or failure to satisfy a listing rule

    Item 3.01 · Accession 0001104659-24-010732

    Feb 5, 2024

    2y ago

    View on EDGAR ↗

Pro

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Jaws Mustang Acquisition Corp: questions answered

What is Jaws Mustang Acquisition Corp (JWSMF)?

Jaws Mustang Acquisition Corp is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0001831359. It completed its initial public offering in Feb 2021, raising $1.0B in gross proceeds and listing on OTC. Class A shares trade under the ticker JWSMF on OTC. The vehicle is sponsored by Jaws (Sternlicht) through Mustang Sponsor LLC. The mandate targets generalist. Definitive business-combination agreement signed, closing pending.

How much does Jaws Mustang Acquisition Corp hold in trust?

Approximately $1,072,718, or about $10.00 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 Jaws Mustang Acquisition Corp complete a merger?

By Dec 4, 2026, after 4 shareholder-approved extensions. 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 Jaws Mustang 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 Jaws Mustang 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 $10.00 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 Jaws Mustang Acquisition Corp trade under?

Class A shares trade as JWSMF on OTC. 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 Jaws Mustang Acquisition Corp?

No. Trust per share is a disclosed, contractual figure: what a redeeming holder receives. The market price is whatever the shares change hands at, which can sit above the trust when a deal is well received or below it when the market doubts one will close. We do not have a current quote for this vehicle, so no spread is shown.

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

Mustang Sponsor LLC is the sponsor entity, part of the Jaws (Sternlicht) franchise. That franchise has launched 6 vehicles in total, of which 3 closed a combination and 2 liquidated, a 60% completion rate on resolved vehicles. Named principals: Andrew Klaber, Barry S. Sternlicht, Joseph L. Dowling, Matthew Walters.

Which banks underwrote the Jaws Mustang Acquisition Corp IPO?

Credit Suisse, BofA Securities, Goldman Sachs. Credit Suisse and BofA Securities and Goldman Sachs were credited as book-running managers on the cover. Syndicate membership and role are read from the prospectus cover and the underwriting section.

Is Jaws Mustang Acquisition Corp tradeable, and where?

Our market-data provider returns no quote for JWSMF. That is normal for a vehicle that has not begun trading, has been delisted after a wind-up, or is too thinly traded to carry a two-sided market. The absence of a quote is shown as "not quoted" rather than as a zero.

Is Jaws Mustang Acquisition Corp a good investment?

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

Filings Jaws Mustang Acquisition Corp submitted to the SEC under CIK 0001831359: 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 19, 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.

Continue reading

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