Newbridge Acquisition LtdNBRG
Cash in trust
—
Not yet disclosed
Trust per share
$9.29
Redemption value
IPO
Jan 2026
$57.5M raised
Combination deadline
—
Not disclosed
Filings on record
56
Latest Aug 14, 2026
Business combination
- Target
- Not disclosed in an indexed filing
- Announced
- Aug 3, 2026
Overview
Newbridge Acquisition Ltd is a special purpose acquisition company incorporated and registered with the SEC under CIK 0001918414. It completed its initial public offering in Jan 2026, raising $57.5M in gross proceeds and listing on Nasdaq. Class A shares trade under the ticker NBRG, units under NBRGU, rights under NBRGR on Nasdaq. The vehicle is sponsored by Wealth Path through Wealth Path Holdings Limited. The mandate targets generalist. Definitive business-combination agreement signed, closing pending.
“target companies in China, we may consider an initial business combination with a target business with a physical presence or other significant ties to China (including Hong Kong and Macau).”
Reading the filings
Arithmetic on what Newbridge Acquisition Ltd 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 $10.09 the shares trade 8.61% above the $9.29 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 $9.29 per public share, below the $10.00 unit price. A trust that has fallen under the offering price usually means charges against it or a restatement, so read the most recent quarterly report before relying on the figure.
Sponsor promote
The sponsor's founder block is 1,437,500 shares against 5,750,000 public shares, or 20.0% 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.
Underwriting
EF Hutton led the offering. It has been named on 38 SPAC IPOs, book-running 28 of them, and 13.6% 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 4m agoThree readings of Newbridge Acquisition Ltd, 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
LowHow much does the structure protect a holder right now?
2/100
- Discount to trust2
-8.61%
- Trust accretion2
$9.29 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
ElevatedHow much attention is this vehicle attracting right now?
65/100
- Filing activity69
4 in 30 days
- News coverage0
0 stories in 30 days
- Premium to trust98
8.61%
- Deal freshness91
announced 32 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
ElevatedHow likely is this vehicle to complete a combination, and at what scale?
55/100
- Lead bank record32
13.6%
- Bank franchise48
38 SPAC mandates
- 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 Newbridge Acquisition Ltd
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 0001649553-26-000106
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0001104659-26-095399
- SCHEDULE 13G/A
Amended beneficial ownership report (passive)
Accession 0000886982-26-000462
- 10-Q
Quarterly report
Accession 0001213900-26-086733
- 425
Business-combination communication
Accession 0001213900-26-084686
- 8-K
Entry into a material definitive agreement; Regulation FD disclosure
Items 1.01, 7.01, 9.01 · Accession 0001213900-26-084680
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0000919574-26-003191
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0000886982-26-000271
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0001172661-26-001884
- 10-Q
Quarterly report
Accession 0001213900-26-054485
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0001140361-26-015617
- 10-K
Annual report
Accession 0001213900-26-032632
- 8-K
Other events
Items 8.01, 9.01 · Accession 0001213900-26-030746
- 8-K
Other events
Item 8.01 · Accession 0001213900-26-022288
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0001846718-26-000002
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0001172661-26-000879
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0001213900-26-015623
- 8-K
Other events
Items 8.01, 9.01 · Accession 0001213900-26-012753
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0001649553-26-000006
- 4
Statement of changes in beneficial ownership
Accession 0001213900-26-012485
- 4
Statement of changes in beneficial ownership
Accession 0001213900-26-012484
- 4
Statement of changes in beneficial ownership
Accession 0001213900-26-012483
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0001376474-26-000120
- 8-K
Entry into a material definitive agreement; Other events
Items 1.01, 3.02, 5.03, 8.01, 9.01 · Accession 0001213900-26-010805
- 424B4
Final IPO prospectus
Accession 0001213900-26-010179
- 3
Initial statement of beneficial ownership
Accession 0001213900-26-009779
- 3
Initial statement of beneficial ownership
Accession 0001213900-26-009778
- 3
Initial statement of beneficial ownership
Accession 0001213900-26-009776
- 3
Initial statement of beneficial ownership
Accession 0001213900-26-009775
- 3
Initial statement of beneficial ownership
Accession 0001213900-26-009773
Newbridge Acquisition Ltd: questions answered
What is Newbridge Acquisition Ltd (NBRG)?
Newbridge Acquisition Ltd is a special purpose acquisition company incorporated and registered with the SEC under CIK 0001918414. It completed its initial public offering in Jan 2026, raising $57.5M in gross proceeds and listing on Nasdaq. Class A shares trade under the ticker NBRG, units under NBRGU, rights under NBRGR on Nasdaq. The vehicle is sponsored by Wealth Path through Wealth Path Holdings Limited. The mandate targets generalist. Definitive business-combination agreement signed, closing pending.
How much does Newbridge Acquisition Ltd hold in trust?
No trust balance has been disclosed in a filing we have indexed for Newbridge Acquisition Ltd. For a newly priced IPO this is normal: the figure first appears in the quarterly report after closing.
When must Newbridge Acquisition Ltd 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 Newbridge Acquisition Ltd 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 Newbridge Acquisition Ltd, 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 $9.29 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 Newbridge Acquisition Ltd trade under?
Class A shares trade as NBRG on Nasdaq, the units as NBRGU, with rights as NBRGR. 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 Newbridge Acquisition Ltd?
No, and the gap between them is the whole trade. Trust per share is a disclosed, contractual figure of $9.29, being what a redeeming holder receives. The market price is whatever the shares change hands at: most recently $10.09, a premium of 8.61% to the redemption value. Quotes on this site are delayed and indicative; confirm on your own venue before trading.
How much dilution do Newbridge Acquisition Ltd's founder shares and warrants create?
The founder block is 1,437,500 shares against 5,750,000 public shares, so roughly 20.0% 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 Newbridge Acquisition Ltd, and what is their track record?
Wealth Path Holdings Limited is the sponsor entity, part of the Wealth Path franchise. This is the only vehicle we have attributed to that sponsor. Named principals: Yongsheng Liu.
Which banks underwrote the Newbridge Acquisition Ltd IPO?
EF Hutton. EF Hutton was credited as book-running manager on the cover. Syndicate membership and role are read from the prospectus cover and the underwriting section.
Is Newbridge Acquisition Ltd tradeable, and where?
Yes. NBRG returned a live quote of $10.09 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 Newbridge Acquisition Ltd a good investment?
That is not a question this site answers. Newbridge Acquisition Ltd 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 Newbridge Acquisition Ltd data come from?
Filings Newbridge Acquisition Ltd submitted to the SEC under CIK 0001918414: 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.
Wealth Path: the full record
Every vehicle this sponsor has launched, what closed, what liquidated and what is still live.
EF Hutton in SPACs
Mandates, bookrun credit, deal volume and the outcome of the vehicles it priced.
Generalist 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.