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Liquidated

NightDragon Acquisition Corp.

CIK 0001837067

Cash in trust

$346.4M

$346,431,169

Trust per share

Redemption value

IPO

Mar 2021

$338.1M raised

Combination deadline

Not disclosed

Filings on record

50

Latest Feb 14, 2023

Overview

NightDragon Acquisition Corp. is a special purpose acquisition company incorporated in Delaware and registered with the SEC under CIK 0001837067. It completed its initial public offering in Mar 2021, raising $338.1M in gross proceeds. The vehicle is sponsored by NightDragon through NightDragon Acquisition Sponsor, LLC. The mandate targets technology, financial services. Deadline lapsed without a deal; trust returned to public shareholders.

we intend to focus our search on the cybersecurity, safety, security and privacy, or CSSP, sector, which complements the expertise of our management team.
The mandate, as stated in the IPO prospectus

Reading the filings

Arithmetic on what NightDragon 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.

  • Warrant coverage

    Each unit carried one-fifth of 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.

  • Sponsor record

    NightDragon has launched 2 vehicles. Of the 2 that have resolved, 0 closed a combination and 2 liquidated, a 0% 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

    Morgan Stanley led the offering. It has been named on 47 SPAC IPOs, book-running 34 of them, and 13.3% 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.

SEC filing history

Free tier: filings older than 24 hours
  • SC 13G/A

    SC 13G/A

    Accession 0001104659-23-020656

    Feb 14, 2023

    3y ago

    Open filing
  • SC 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001319244-23-000015

    Jan 31, 2023

    3y ago

    Open filing
  • 15-12G

    Deregistration of securities

    Accession 0001193125-22-303174

    Dec 13, 2022

    3y ago

    Open filing
  • 8-K

    Entry into a material definitive agreement; Submission of matters to a vote of security holders

    Items 1.01, 3.03, 5.07, 9.01 · Accession 0001193125-22-301015

    Dec 8, 2022

    3y ago

    Open filing
  • 25-NSE

    Notification of delisting

    Accession 0001354457-22-000681

    Dec 2, 2022

    3y ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001193125-22-284682

    Nov 14, 2022

    3y ago

    Open filing
  • DEFA14A

    Additional proxy soliciting material

    Accession 0001193125-22-265953

    Oct 20, 2022

    3y ago

    Open filing
  • DEF 14A

    Definitive proxy statement

    Accession 0001193125-22-265948

    Oct 20, 2022

    3y ago

    Open filing
  • PRE 14A

    PRE 14A

    Accession 0001193125-22-255487

    Sep 30, 2022

    3y ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001193125-22-220068

    Aug 12, 2022

    4y ago

    Open filing
  • SC 13G

    Beneficial ownership report (passive)

    Accession 0001104659-22-062869

    May 19, 2022

    4y ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001193125-22-150299

    May 13, 2022

    4y ago

    Open filing
  • 10-K

    Annual report

    Accession 0001193125-22-090030

    Mar 30, 2022

    4y ago

    Open filing
  • SC 13G/A

    SC 13G/A

    Accession 0001193125-22-042140

    Feb 14, 2022

    4y ago

    Open filing
  • 3

    Initial statement of beneficial ownership

    Accession 0000899243-22-005443

    Feb 9, 2022

    4y ago

    Open filing
  • 8-K

    Current report

    Items 5.02, 9.01 · Accession 0001193125-22-032744

    Feb 9, 2022

    4y ago

    Open filing
  • SC 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001319244-22-000009

    Jan 18, 2022

    4y ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001193125-21-336026

    Nov 22, 2021

    4y ago

    Open filing
  • NT 10-Q

    Late quarterly report notification

    Accession 0001193125-21-331283

    Nov 16, 2021

    4y ago

    Open filing
  • 8-K

    Current report

    Item 4.02 · Accession 0001193125-21-331269

    Nov 16, 2021

    4y ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001193125-21-245874

    Aug 13, 2021

    5y ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001193125-21-188944

    Jun 11, 2021

    5y ago

    Open filing
  • 8-K

    Notice of delisting or failure to satisfy a listing rule

    Items 3.01, 9.01 · Accession 0001193125-21-177179

    May 28, 2021

    5y ago

    Open filing
  • NT 10-Q

    Late quarterly report notification

    Accession 0001193125-21-163857

    May 17, 2021

    5y ago

    Open filing
  • 8-K

    Current report

    Item 4.02 · Accession 0001193125-21-163849

    May 17, 2021

    5y ago

    Open filing
  • SC 13G

    Beneficial ownership report (passive)

    Accession 0001193125-21-142866

    Apr 30, 2021

    5y ago

    Open filing
  • 8-K

    Other events

    Items 8.01, 9.01 · Accession 0001193125-21-125538

    Apr 22, 2021

    5y ago

    Open filing
  • SC 13D

    Beneficial ownership report (activist)

    Accession 0001193125-21-079720

    Mar 12, 2021

    5y ago

    Open filing
  • 8-K

    Other events

    Items 8.01, 9.01 · Accession 0001193125-21-076400

    Mar 10, 2021

    5y ago

    Open filing
  • SC 13G

    Beneficial ownership report (passive)

    Accession 0001319244-21-000150

    Mar 5, 2021

    5y ago

    Open filing

NightDragon Acquisition Corp.: questions answered

What is NightDragon Acquisition Corp.?

NightDragon Acquisition Corp. is a special purpose acquisition company incorporated in Delaware and registered with the SEC under CIK 0001837067. It completed its initial public offering in Mar 2021, raising $338.1M in gross proceeds. The vehicle is sponsored by NightDragon through NightDragon Acquisition Sponsor, LLC. The mandate targets technology, financial services. Deadline lapsed without a deal; trust returned to public shareholders.

How much does NightDragon Acquisition Corp. hold in trust?

Approximately $346,431,169, 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 NightDragon 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 NightDragon 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 NightDragon 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.

Is the trust value the same as the share price for NightDragon 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 NightDragon Acquisition Corp.'s founder shares and warrants create?

Each unit also carried one-fifth of 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 NightDragon Acquisition Corp., and what is their track record?

NightDragon Acquisition Sponsor, LLC is the sponsor entity, part of the NightDragon franchise. That franchise has launched 2 vehicles in total, of which 0 closed a combination and 2 liquidated, a 0% completion rate on resolved vehicles. Named principals: David G. DeWalt, Morgan Kyauk.

Which banks underwrote the NightDragon Acquisition Corp. IPO?

Morgan Stanley, Drexel Hamilton. Morgan Stanley was credited as book-running manager on the cover. Syndicate membership and role are read from the prospectus cover and the underwriting section.

Is NightDragon Acquisition Corp. a good investment?

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

Filings NightDragon Acquisition Corp. submitted to the SEC under CIK 0001837067: 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.

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.