Papaya Growth Opportunity Corp. I
Cash in trust
$1.0M
$1,022,474
Trust per share
$10.69
Redemption value
IPO
Jan 2022
—
Combination deadline
Dec 19, 2026
61 days remaining
Filings on record
103
Latest Jul 25, 2026
Business combination
- Target
- Not disclosed in an indexed filing
- Announced
- Oct 2, 2025
Overview
Papaya Growth Opportunity Corp. I is a special purpose acquisition company incorporated in Delaware and registered with the SEC under CIK 0001894057. It completed its initial public offering in Jan 2022. The vehicle is sponsored by Papaya Growth Opportunity through Papaya Growth Opportunity I Sponsor, LLC. The mandate targets generalist. Definitive business-combination agreement signed, closing pending.
“we intend to focus on factors important to successful SPAC-combinations: · Sufficient scale.”
Reading the filings
Arithmetic on what Papaya Growth Opportunity Corp. I 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 $10.69 per public share, 6.9% 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
61 days to the Dec 19, 2026 deadline. Inside ninety days a sponsor has three routes and no others: close, call a shareholder vote to extend (which opens a redemption window and usually costs a monthly contribution into the trust), or liquidate and return the cash. This is the window where redemption arithmetic starts to dominate the share price.
Extension history
Shareholders have already approved 5 extensions. Each one opened a redemption window, so the public float and the trust are almost certainly smaller than at IPO, and each typically came with a sponsor contribution that lifts trust per share. A vehicle on its second or third extension is one where the sponsor is paying to keep the search alive.
Warrant coverage
Each unit carried one-half 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
Papaya Growth Opportunity 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 151 SPAC IPOs, book-running 130 of them, and 69.5% 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.
From listing to the date Papaya Growth Opportunity Corp. I must close a deal, extend again, or return the trust. The marker is today.
At every shareholder vote holders may hand their shares back for their cash. Each bar is one vote, read out of the 8-K that reported it.
9.8M shares handed back across 4 votes.
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.
103 filings in all. 5 in the last three months, against a busiest month of 23.
Scores
Recomputed 10m agoThree readings of Papaya Growth Opportunity Corp. I, 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?
53/100
- Trust accretion80
$10.69 per share
- Runway25
61 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?
14/100
- Filing activity0
0 in 30 days
- News coverage0
0 stories in 30 days
- Deal freshness42
announced 382 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?
61/100
- Lead bank record71
69.5%
- Bank franchise85
151 SPAC mandates
- Trust scale4
$1M
- 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 Papaya Growth Opportunity Corp. I
Last 90 daysNothing 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- 8-K
Current report
Items 4.01, 9.01 · Accession 0001104659-26-086739
- 10-Q
Quarterly report
Accession 0001104659-26-084365
- 10-Q
Quarterly report
Accession 0001104659-26-075911
- 425
Business-combination communication
Accession 0001104659-26-075883
- 8-K
Termination of a material definitive agreement
Item 1.02 · Accession 0001104659-26-075879
- 425
Business-combination communication
Accession 0001104659-25-122067
- 8-K
Entry into a material definitive agreement; Submission of matters to a vote of security holders; Regulation FD disclosure
Items 1.01, 5.03, 5.07, 7.01, 9.01 · Accession 0001104659-25-122062
- 10-Q
Quarterly report
Accession 0001104659-25-119412
- DEF 14C
DEF 14C
Accession 0001104659-25-115438
- PRE 14C
PRE 14C
Accession 0001104659-25-111457
- 425
Business-combination communication
Accession 0001104659-25-096147
- 8-K
Entry into a material definitive agreement; Termination of a material definitive agreement
Items 1.01, 1.02, 9.01 · Accession 0001104659-25-096145
- 25-NSE
Notification of delisting
Accession 0001354457-25-000502
- NT 10-Q
Late quarterly report notification
Accession 0001104659-25-049385
- 8-K
Entry into a material definitive agreement
Items 1.01, 9.01 · Accession 0001104659-25-039474
- 8-K
Regulation FD disclosure; Other events
Items 7.01, 8.01, 9.01 · Accession 0001104659-25-036539
- 10-K
Annual report
Accession 0001410578-25-000724
- NT 10-K
Late annual report notification
Accession 0001104659-25-029911
- 8-K
Current report
Item 5.02 · Accession 0001104659-25-026000
- 8-K
Entry into a material definitive agreement; Notice of delisting or failure to satisfy a listing rule; Submission of matters to a vote of security holders; Regulation FD disclosure
Items 1.01, 3.01, 5.03, 5.07, 7.01, 9.01 · Accession 0001104659-25-004502
- DEF 14A
Definitive proxy statement
Accession 0001104659-24-132161
- PRE 14A
PRE 14A
Accession 0001104659-24-128058
- 10-Q
Quarterly report
Accession 0001410578-24-001994
- SC 13G/A
SC 13G/A
Accession 0001193125-24-257445
- 10-Q
Quarterly report
Accession 0001410578-24-001444
- 10-Q
Quarterly report
Accession 0001410578-24-001070
- 10-K/A
10-K/A
Accession 0001410578-24-001051
- 8-K
Notice of delisting or failure to satisfy a listing rule; Regulation FD disclosure
Items 3.01, 7.01, 9.01 · Accession 0001104659-24-069681
- 8-K
Current report
Items 4.02, 9.01 · Accession 0001104659-24-065173
- NT 10-Q
Late quarterly report notification
Accession 0001104659-24-061987
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Papaya Growth Opportunity Corp. I: questions answered
What is Papaya Growth Opportunity Corp. I?
Papaya Growth Opportunity Corp. I is a special purpose acquisition company incorporated in Delaware and registered with the SEC under CIK 0001894057. It completed its initial public offering in Jan 2022. The vehicle is sponsored by Papaya Growth Opportunity through Papaya Growth Opportunity I Sponsor, LLC. The mandate targets generalist. Definitive business-combination agreement signed, closing pending.
How much does Papaya Growth Opportunity Corp. I hold in trust?
Approximately $1,022,474, or about $10.69 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 Papaya Growth Opportunity Corp. I complete a merger?
By Dec 19, 2026, after 5 shareholder-approved extensions. 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 Papaya Growth Opportunity Corp. I 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 Papaya Growth Opportunity Corp. I, 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 $10.69 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 Papaya Growth Opportunity Corp. I?
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 Papaya Growth Opportunity Corp. I's founder shares and warrants create?
Each unit also carried one-half 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 Papaya Growth Opportunity Corp. I, and what is their track record?
Papaya Growth Opportunity I Sponsor, LLC is the sponsor entity, part of the Papaya Growth Opportunity franchise. That franchise has launched 2 vehicles in total, none of which has resolved yet. Named principals: Clay Whitehead, Patrick Pohlen.
Which banks underwrote the Papaya Growth Opportunity Corp. I 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 Papaya Growth Opportunity Corp. I a good investment?
That is not a question this site answers. Papaya Growth Opportunity Corp. I 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 Papaya Growth Opportunity Corp. I data come from?
Filings Papaya Growth Opportunity Corp. I submitted to the SEC under CIK 0001894057: 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.
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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.
Papaya Growth Opportunity: 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.
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.