Pearl Holdings Acquisition Corp
Cash in trust
$23.6M
$23,644,203
Trust per share
—
Redemption value
IPO
Dec 2021
$196M raised
Combination deadline
—
Not disclosed
Filings on record
107
Latest May 22, 2025
Overview
Pearl Holdings Acquisition Corp is a special purpose acquisition company incorporated and registered with the SEC under CIK 0001856161. It completed its initial public offering in Dec 2021, raising $196M in gross proceeds. The vehicle is sponsored by Pearl through Pearl Holdings Sponsor LLC. The mandate targets technology, healthcare, consumer. Deadline lapsed without a deal; trust returned to public shareholders.
“we intend to focus our search for a target business in global consumer -focused industries, including companies that participate in the lifestyle, technology, healthcare and wellness sectors.”
Reading the filings
Arithmetic on what Pearl Holdings 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.
Extension history
Shareholders have already approved 3 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.
Underwriting
Morgan Stanley led the offering. It has been named on 67 SPAC IPOs, book-running 46 of them, and 45.3% 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.
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.
20M shares handed back across 2 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.
107 filings in all. 1 in the last three months, against a busiest month of 19.
News on Pearl Holdings Acquisition Corp
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- 25-NSE
Notification of delisting
Accession 0001354457-25-000444
- SCHEDULE 13G/A
Amended beneficial ownership report (passive)
Accession 0001493152-25-005958
- 8-K
Notice of delisting or failure to satisfy a listing rule
Items 3.01, 9.01 · Accession 0001829126-24-008505
- DEFA14A
Additional proxy soliciting material
Accession 0001829126-24-008245
- 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 0001829126-24-008244
- DEFR14A
DEFR14A
Accession 0001829126-24-007711
- 10-Q
Quarterly report
Accession 0001829126-24-007698
- DEF 14A
Definitive proxy statement
Accession 0001829126-24-007640
- NT 10-Q
Late quarterly report notification
Accession 0001829126-24-007585
- SC 13G/A
Amended beneficial ownership report (passive)
Accession 0000929638-24-003904
- 4
Statement of changes in beneficial ownership
Accession 0001493152-24-044566
- SC 13G/A
Amended beneficial ownership report (passive)
Accession 0001493152-24-044562
- UPLOAD
SEC staff comment letter
Accession 0000000000-24-012316
- PRER14A
PRER14A
Accession 0001829126-24-007276
- CORRESP
Correspondence with SEC staff
Accession 0001829126-24-007277
- UPLOAD
SEC staff comment letter
Accession 0000000000-24-012128
- PRE 14A
PRE 14A
Accession 0001829126-24-007041
- SC 13G/A
Amended beneficial ownership report (passive)
Accession 0001326389-24-000135
- 10-Q
Quarterly report
Accession 0001829126-24-005647
- NT 10-Q
Late quarterly report notification
Accession 0001829126-24-005530
- UPLOAD
SEC staff comment letter
Accession 0000000000-24-006861
- CORRESP
Correspondence with SEC staff
Accession 0001829126-24-004048
- 10-K/A
10-K/A
Accession 0001829126-24-004047
- UPLOAD
SEC staff comment letter
Accession 0000000000-24-006292
- CORRESP
Correspondence with SEC staff
Accession 0001829126-24-003759
- 10-K/A
10-K/A
Accession 0001829126-24-003758
- 8-K
Notice of delisting or failure to satisfy a listing rule
Items 3.01, 9.01 · Accession 0001829126-24-003636
- 10-Q
Quarterly report
Accession 0001829126-24-003551
- 8-K
Notice of delisting or failure to satisfy a listing rule
Items 3.01, 9.01 · Accession 0001829126-24-003476
- NT 10-Q
Late quarterly report notification
Accession 0001829126-24-003399
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Pearl Holdings Acquisition Corp: questions answered
What is Pearl Holdings Acquisition Corp?
Pearl Holdings Acquisition Corp is a special purpose acquisition company incorporated and registered with the SEC under CIK 0001856161. It completed its initial public offering in Dec 2021, raising $196M in gross proceeds. The vehicle is sponsored by Pearl through Pearl Holdings Sponsor LLC. The mandate targets technology, healthcare, consumer. Deadline lapsed without a deal; trust returned to public shareholders.
How much does Pearl Holdings Acquisition Corp hold in trust?
Approximately $23,644,203, 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 Pearl Holdings 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 Pearl Holdings 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 Pearl Holdings 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 Pearl Holdings 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 Pearl Holdings Acquisition Corp's founder shares and warrants create?
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 Pearl Holdings Acquisition Corp, and what is their track record?
Pearl Holdings Sponsor LLC is the sponsor entity, part of the Pearl franchise. This is the only vehicle we have attributed to that sponsor. Named principals: Craig E. Barnett.
Which banks underwrote the Pearl Holdings Acquisition Corp IPO?
Morgan Stanley. 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 Pearl Holdings Acquisition Corp a good investment?
That is not a question this site answers. Pearl Holdings 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 Pearl Holdings Acquisition Corp data come from?
Filings Pearl Holdings Acquisition Corp submitted to the SEC under CIK 0001856161: 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.
Pearl: the full record
Every vehicle this sponsor has launched, what closed, what liquidated and what is still live.
Morgan Stanley 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.