Launch One Acquisition Corp.LPAA
Cash in trust
$249.8M
$249,810,453
Trust per share
$10.86
Redemption value
IPO
Jul 2024
$230.0M raised
Combination deadline
Jan 15, 2027
133 days remaining
Filings on record
77
Latest Aug 13, 2026
Business combination
- Target
- Not disclosed in an indexed filing
- Announced
- Jun 25, 2025
Overview
Launch One Acquisition Corp. is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0002015502. It completed its initial public offering in Jul 2024, raising $230.0M in gross proceeds and listing on Nasdaq. Class A shares trade under the ticker LPAA, units under LPAAU, warrants under LPAAW on Nasdaq. The vehicle is sponsored by Launch One through Launch One Sponsor LLC. The mandate targets healthcare, media & entertainment. Definitive business-combination agreement signed, closing pending.
“we intend to acquire.”
Reading the filings
Arithmetic on what Launch One 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 discount to trust
At $10.77 the shares change hands 0.83% below the $10.86 they can be redeemed for. A holder buying here is paid that spread to carry deadline and redemption risk until the vote, and the trust keeps accreting underneath it.
Trust versus the $10 unit
The trust holds $10.86 per public share, 8.6% 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
133 days to the Jan 15, 2027 deadline. Still workable for a deal already in diligence, tight for one that has not been found. Watch for an extension proxy, which typically appears a month or two before the date.
Sponsor promote
The sponsor's founder block is 2,800,000 shares against 23,000,000 public shares, or 10.9% of the combined count, acquired before the IPO at nominal cost. That promote is the structural dilution every public shareholder carries into a combination, and it is why the economics of a de-SPAC differ so sharply from a conventional IPO.
Sponsor record
Launch One has launched 2 vehicles, none of which has resolved yet, so there is no completion record to read.
Underwriting
Cantor Fitzgerald led the offering. It has been named on 114 SPAC IPOs, book-running 101 of them, and 21.4% 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 3m agoThree readings of Launch One 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
ElevatedHow much does the structure protect a holder right now?
60/100
- Discount to trust75
0.83%
- Trust accretion87
$10.86 per share
- Runway19
133 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
LowHow much attention is this vehicle attracting right now?
23/100
- Filing activity38
2 in 30 days
- News coverage0
0 stories in 30 days
- Premium to trust25
-0.83%
- Deal freshness29
announced 436 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
HighHow likely is this vehicle to complete a combination, and at what scale?
79/100
- Lead bank record73
21.4%
- Bank franchise87
114 SPAC mandates
- Trust scale71
$250M
- 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 Launch One Acquisition Corp.
Last 90 daysNews sentiment
PositiveAcross 1 recent story, weighted towards the newest. Scored by our own headline classifier using finance- and SPAC-specific terms. It reads what a story is about, not what the shares are worth.
SEC filing history
Free tier: filings older than 24 hours- SCHEDULE 13G/A
Amended beneficial ownership report (passive)
Accession 0001104659-26-095368
- 10-Q
Quarterly report
Accession 0001213900-26-088467
- 8-K
Entry into a material definitive agreement; Submission of matters to a vote of security holders
Items 1.01, 5.03, 5.07, 9.01 · Accession 0001213900-26-077654
- 8-K
Other events
Items 3.02, 8.01 · Accession 0001213900-26-075677
- DEFA14A
Additional proxy soliciting material
Accession 0001213900-26-072111
- 8-K
Other events
Items 8.01, 9.01 · Accession 0001213900-26-072106
- DEF 14A
Definitive proxy statement
Accession 0001213900-26-067392
- PRER14A
REVISED PRELIMINARY PROXY STATEMENT
Accession 0001213900-26-064293
- 3
Initial statement of beneficial ownership
Accession 0001213900-26-064287
- 8-K
Current report
Item 5.02 · Accession 0001213900-26-064285
- PRE 14A
PRELIMINARY PROXY STATEMENT
Accession 0001213900-26-058518
- 10-Q
Quarterly report
Accession 0001213900-26-056825
- 10-K
Annual report
Accession 0001213900-26-035527
- 425
Business-combination communication
Accession 0001213900-26-034711
- 8-K
Other events
Items 2.03, 8.01, 9.01 · Accession 0001213900-26-034702
- SCHEDULE 13G/A
Amended beneficial ownership report (passive)
Accession 0000312069-26-000073
- SCHEDULE 13G/A
Amended beneficial ownership report (passive)
Accession 0000912282-26-000321
- SCHEDULE 13G/A
Amended beneficial ownership report (passive)
Accession 0000912282-26-000314
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0001104659-26-013825
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0001628280-26-007079
- 425
Business-combination communication
Accession 0001213900-26-011729
- 8-K
Termination of a material definitive agreement
Items 1.02, 9.01 · Accession 0001213900-26-011726
- 425
Business-combination communication
Accession 0001213900-26-003787
- 10-Q
Quarterly report
Accession 0001213900-25-110031
- 425
Business-combination communication
Accession 0001213900-25-081122
- 10-Q
Quarterly report
Accession 0001213900-25-076716
- SCHEDULE 13G/A
Amended beneficial ownership report (passive)
Accession 0001062993-25-014212
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0000312069-25-000519
- 425
Business-combination communication
Accession 0001213900-25-067362
- 425
Business-combination communication
Accession 0001213900-25-060428
Launch One Acquisition Corp.: questions answered
What is Launch One Acquisition Corp. (LPAA)?
Launch One Acquisition Corp. is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0002015502. It completed its initial public offering in Jul 2024, raising $230.0M in gross proceeds and listing on Nasdaq. Class A shares trade under the ticker LPAA, units under LPAAU, warrants under LPAAW on Nasdaq. The vehicle is sponsored by Launch One through Launch One Sponsor LLC. The mandate targets healthcare, media & entertainment. Definitive business-combination agreement signed, closing pending.
How much does Launch One Acquisition Corp. hold in trust?
Approximately $249,810,453, or about $10.86 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 Launch One Acquisition Corp. complete a merger?
By Jan 15, 2027. 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 Launch One 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 Launch One 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 $10.86 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 Launch One Acquisition Corp. trade under?
Class A shares trade as LPAA on Nasdaq, the units as LPAAU, and the warrants as LPAAW. 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 Launch One Acquisition Corp.?
No, and the gap between them is the whole trade. Trust per share is a disclosed, contractual figure of $10.86, being what a redeeming holder receives. The market price is whatever the shares change hands at: most recently $10.77, a discount of 0.83% to the redemption value. Quotes on this site are delayed and indicative; confirm on your own venue before trading.
How much dilution do Launch One Acquisition Corp.'s founder shares and warrants create?
The founder block is 2,800,000 shares against 23,000,000 public shares, so roughly 10.9% of the combined count sits with the sponsor at nominal cost. 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 Launch One Acquisition Corp., and what is their track record?
Launch One Sponsor LLC is the sponsor entity, part of the Launch One franchise. That franchise has launched 2 vehicles in total, none of which has resolved yet. Named principals: Chris Ehrlich, Ryan Gilbert.
Which banks underwrote the Launch One Acquisition Corp. IPO?
Cantor Fitzgerald. Cantor Fitzgerald was credited as book-running manager on the cover. Syndicate membership and role are read from the prospectus cover and the underwriting section.
Is Launch One Acquisition Corp. tradeable, and where?
Yes. LPAA returned a live quote of $10.77 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 Launch One Acquisition Corp. a good investment?
That is not a question this site answers. Launch One 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 Launch One Acquisition Corp. data come from?
Filings Launch One Acquisition Corp. submitted to the SEC under CIK 0002015502: 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.
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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.
Launch One: the full record
Every vehicle this sponsor has launched, what closed, what liquidated and what is still live.
Cantor Fitzgerald in SPACs
Mandates, bookrun credit, deal volume and the outcome of the vehicles it priced.
Healthcare SPACs
Every vehicle chasing the same mandate, ranked by cash in trust.
All spacs with an announced deal
Definitive business-combination agreement signed, closing pending.
Deadline calendar
Which sponsors are running out of time, and when the extension votes land.
What is a SPAC?
The structure, the economics and where the risks actually sit.
SPAC glossary
Every term in a blank-check filing, defined the way practitioners use it.
How this data is built
Coverage universe, ingestion, normalisation, lifecycle classification and known limits.