Natural Order Acquisition Corp.
Cash in trust
$230.7M
$230,682,837
Trust per share
$10.00
Redemption value
IPO
Nov 2020
$230.0M raised
Combination deadline
—
Not disclosed
Filings on record
62
Latest Nov 23, 2022
Overview
Natural Order Acquisition Corp. is a special purpose acquisition company incorporated and registered with the SEC under CIK 0001824888. It completed its initial public offering in Nov 2020, raising $230.0M in gross proceeds. The vehicle is sponsored by Natural Order through Natural Order Sponsor LLC. The mandate targets technology, energy transition, consumer. Deadline lapsed without a deal; trust returned to public shareholders.
“we intend to focus on targets that are focused on technologies and products related to sustainable plant-based food and nutrition.”
Reading the filings
Arithmetic on what Natural Order 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.
Warrant coverage
Each unit carried one 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
Chardan led the offering. It has been named on 28 SPAC IPOs, book-running 26 of them, and 13% 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.
SEC filing history
Free tier: filings older than 24 hours- 4
Statement of changes in beneficial ownership
Accession 0001213900-22-075003
- 4
Statement of changes in beneficial ownership
Accession 0001213900-22-075001
- 4
Statement of changes in beneficial ownership
Accession 0001213900-22-074998
- 4
Statement of changes in beneficial ownership
Accession 0001213900-22-074996
- 15-15D
FORM 15-15D
Accession 0001213900-22-074057
- 10-Q
Quarterly report
Accession 0001213900-22-072321
- 25-NSE
Notification of delisting
Accession 0001354457-22-000643
- 8-K
Other events
Items 8.01, 9.01 · Accession 0001213900-22-068305
- 10-Q
Quarterly report
Accession 0001213900-22-046857
- 3
Initial statement of beneficial ownership
Accession 0001213900-22-027969
- 10-Q
Quarterly report
Accession 0001213900-22-026475
- 8-K
Current report
Item 5.02 · Accession 0001213900-22-025046
- 10-K
Annual report
Accession 0001213900-22-016800
- SC 13G/A
Amended beneficial ownership report (passive)
Accession 0001213900-22-007474
- SC 13G/A
SCHEDULE 13G/A, AMENDMENT #1
Accession 0000899140-22-000273
- SC 13G/A
Amended beneficial ownership report (passive)
Accession 0001213900-22-006770
- 10-Q/A
10-Q/A
Accession 0001213900-22-005716
- 10-K/A
AMENDMENT NO. 2 TO FORM 10-K
Accession 0001213900-22-005709
- 4
Statement of changes in beneficial ownership
Accession 0001213900-22-001342
- 4
Statement of changes in beneficial ownership
Accession 0001213900-22-001341
- 4
Statement of changes in beneficial ownership
Accession 0001213900-22-001340
- 4
Statement of changes in beneficial ownership
Accession 0001213900-22-001339
- 3
Initial statement of beneficial ownership
Accession 0001213900-22-001336
- 8-K
Current report
Item 4.02 · Accession 0001213900-21-062903
- 10-Q
Quarterly report
Accession 0001213900-21-059258
- 8-K
Current report
Item 5.02 · Accession 0001213900-21-047680
- 10-Q
Quarterly report
Accession 0001213900-21-041967
- 10-Q
Quarterly report
Accession 0001213900-21-028738
- 10-K/A
AMENDMENT NO. 1 TO FORM 10-K
Accession 0001213900-21-028735
- NT 10-Q
Late quarterly report notification
Accession 0001213900-21-028699
Natural Order Acquisition Corp.: questions answered
What is Natural Order Acquisition Corp.?
Natural Order Acquisition Corp. is a special purpose acquisition company incorporated and registered with the SEC under CIK 0001824888. It completed its initial public offering in Nov 2020, raising $230.0M in gross proceeds. The vehicle is sponsored by Natural Order through Natural Order Sponsor LLC. The mandate targets technology, energy transition, consumer. Deadline lapsed without a deal; trust returned to public shareholders.
How much does Natural Order Acquisition Corp. hold in trust?
Approximately $230,682,837, 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 Natural Order 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 Natural Order 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 Natural Order 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.
Is the trust value the same as the share price for Natural Order 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 Natural Order Acquisition Corp.'s founder shares and warrants create?
Each unit also carried one 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 Natural Order Acquisition Corp., and what is their track record?
Natural Order Sponsor LLC is the sponsor entity, part of the Natural Order franchise. This is the only vehicle we have attributed to that sponsor.
Which banks underwrote the Natural Order Acquisition Corp. IPO?
Chardan, Barclays, B. Riley Securities. Chardan and Barclays were credited as book-running managers on the cover. Syndicate membership and role are read from the prospectus cover and the underwriting section.
Is Natural Order Acquisition Corp. a good investment?
That is not a question this site answers. Natural Order 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 Natural Order Acquisition Corp. data come from?
Filings Natural Order Acquisition Corp. submitted to the SEC under CIK 0001824888: 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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The context around this vehicle: who else the sponsor has launched, which banks priced it, and where it sits in the wider market.
Natural Order: the full record
Every vehicle this sponsor has launched, what closed, what liquidated and what is still live.
Chardan in SPACs
Mandates, bookrun credit, deal volume and the outcome of the vehicles it priced.
Technology SPACs
Every vehicle chasing the same mandate, ranked by cash in trust.
All liquidated spacs
Deadline lapsed without a deal; trust returned to public shareholders.
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.