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Mercator Acquisition Corp.MRCO

Class A MRCOUnits MRCOUWarrants MRCOWCIK 0002106436

Cash in trust

$155M

$154,500,000

Trust per share

—

Redemption value

IPO

Jul 2026

—

Combination deadline

Jan 10, 2028

448 days remaining

Filings on record

20

Latest Aug 25, 2026

Overview

Mercator Acquisition Corp. is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0002106436. It completed its initial public offering in Jul 2026 and listing on Nasdaq. Class A shares trade under the ticker MRCO, units under MRCOU, warrants under MRCOW on Nasdaq. The vehicle is sponsored by Mercator Investor through Mercator Investor Holdings, LLC. The mandate targets generalist. IPO closed, trust funded, no definitive agreement announced.

“we intend to acquire.”
The mandate, as stated in the IPO prospectus

Reading the filings

Arithmetic on what Mercator 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.

  • Time on the clock

    448 days to the Jan 10, 2028 deadline. The vehicle is early in its search window, and the deadline is not yet the binding constraint.

  • Warrant coverage

    Each unit carried one-half warrant per unit. Warrants are dilution deferred: they cost the holder nothing until exercised, and they overhang the post-combination share count. Thinner coverage is generally a sign of a stronger book at pricing.

  • Underwriting

    Clear Street led the offering. It has been named on 43 SPAC IPOs, book-running 34 of them, and 100% 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 Mercator Acquisition Corp. must close a deal, extend again, or return the trust. The marker is today.

IPO Jul 10, 2026Deadline Jan 10, 2028101 days in448 days left
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.

14702026-022026-08

20 filings in all. 18 in the last three months, against a busiest month of 14.

Scores

Recomputed 12m ago

Three readings of Mercator 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

FOMO

Low

How much attention is this vehicle attracting right now?

0/100

  • Filing activity0

    0 in 30 days

  • News coverage0

    0 stories in 30 days

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?

55/100

  • Lead bank record95

    100.0%

  • Bank franchise39

    43 SPAC mandates

  • Trust scale45

    $155M

  • Stage40

    searching

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 Mercator 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
  • NT 10-Q

    Late quarterly report notification

    Accession 0001213900-26-093509

    Aug 25, 2026

    1mo ago

    View on EDGAR ↗
  • 10-Q

    Quarterly report

    Accession 0001213900-26-093170

    Aug 24, 2026

    1mo ago

    View on EDGAR ↗
  • 8-K

    Other events

    Items 8.01, 9.01 · Accession 0001213900-26-088514

    Aug 12, 2026

    2mo ago

    View on EDGAR ↗
  • 8-K

    Other events

    Items 8.01, 9.01 · Accession 0001213900-26-086670

    Aug 7, 2026

    2mo ago

    View on EDGAR ↗
  • 4

    Statement of changes in beneficial ownership

    Accession 0001213900-26-078835

    Jul 16, 2026

    3mo ago

    View on EDGAR ↗
  • 4

    Statement of changes in beneficial ownership

    Accession 0001213900-26-078834

    Jul 16, 2026

    3mo ago

    View on EDGAR ↗
  • 4

    Statement of changes in beneficial ownership

    Accession 0001213900-26-078833

    Jul 16, 2026

    3mo ago

    View on EDGAR ↗
  • 4

    Statement of changes in beneficial ownership

    Accession 0001213900-26-078832

    Jul 16, 2026

    3mo ago

    View on EDGAR ↗
  • 8-K

    Entry into a material definitive agreement; Other events

    Items 1.01, 3.02, 5.03, 8.01, 9.01 · Accession 0001213900-26-078814

    Jul 16, 2026

    3mo ago

    View on EDGAR ↗
  • 424B4

    Final IPO prospectus

    Accession 0001213900-26-076921

    Jul 10, 2026

    3mo ago

    View on EDGAR ↗
  • EFFECT

    Notice of effectiveness

    Accession 9999999995-26-002219

    Jul 9, 2026

    3mo ago

    View on EDGAR ↗
  • 3

    Initial statement of beneficial ownership

    Accession 0001213900-26-076517

    Jul 9, 2026

    3mo ago

    View on EDGAR ↗
  • 3

    Initial statement of beneficial ownership

    Accession 0001213900-26-076516

    Jul 9, 2026

    3mo ago

    View on EDGAR ↗
  • 3

    Initial statement of beneficial ownership

    Accession 0001213900-26-076515

    Jul 9, 2026

    3mo ago

    View on EDGAR ↗
  • 3

    Initial statement of beneficial ownership

    Accession 0001213900-26-076513

    Jul 9, 2026

    3mo ago

    View on EDGAR ↗
  • CERT

    Exchange listing certification

    Accession 0001354457-26-000651

    Jul 8, 2026

    3mo ago

    View on EDGAR ↗
  • 8-A12B

    Registration of securities on an exchange

    Accession 0001213900-26-076260

    Jul 8, 2026

    3mo ago

    View on EDGAR ↗
  • S-1/A

    Amended IPO registration statement

    Accession 0001213900-26-074947

    Jul 2, 2026

    3mo ago

    View on EDGAR ↗
  • S-1/A

    Amended IPO registration statement

    Accession 0001213900-26-032483

    Mar 20, 2026

    7mo ago

    View on EDGAR ↗
  • S-1

    Registration statement for the initial public offering

    Accession 0001213900-26-021867

    Feb 28, 2026

    7mo ago

    View on EDGAR ↗

Pro

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Mercator Acquisition Corp.: questions answered

What is Mercator Acquisition Corp. (MRCO)?

Mercator Acquisition Corp. is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0002106436. It completed its initial public offering in Jul 2026 and listing on Nasdaq. Class A shares trade under the ticker MRCO, units under MRCOU, warrants under MRCOW on Nasdaq. The vehicle is sponsored by Mercator Investor through Mercator Investor Holdings, LLC. The mandate targets generalist. IPO closed, trust funded, no definitive agreement announced.

How much does Mercator Acquisition Corp. hold in trust?

Approximately $154,500,000, 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 Mercator Acquisition Corp. complete a merger?

By Jan 10, 2028. 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 Mercator 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 Mercator 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. 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 Mercator Acquisition Corp. trade under?

Class A shares trade as MRCO on Nasdaq, the units as MRCOU, and the warrants as MRCOW. 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 Mercator 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.

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

Each unit also carried one-half warrant per unit, which is dilution deferred until exercise. 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 Mercator Acquisition Corp., and what is their track record?

Mercator Investor Holdings, LLC is the sponsor entity, part of the Mercator Investor franchise. This is the only vehicle we have attributed to that sponsor. Named principals: Shawn Matthews.

Which banks underwrote the Mercator Acquisition Corp. IPO?

Clear Street. Clear Street was credited as book-running manager on the cover. Syndicate membership and role are read from the prospectus cover and the underwriting section.

Is Mercator Acquisition Corp. tradeable, and where?

Yes. MRCO returned a live quote of $9.89 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 Mercator Acquisition Corp. a good investment?

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

Filings Mercator Acquisition Corp. submitted to the SEC under CIK 0002106436: 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

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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.