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WEN Acquisition CorpWENN

Class A WENNUnits WENNUWarrants WENNWCIK 0002057043

Cash in trust

$313.3M

$313,252,310

Trust per share

Redemption value

IPO

May 2025

Combination deadline

May 19, 2027

257 days remaining

Filings on record

42

Latest Aug 13, 2026

Overview

WEN Acquisition Corp is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0002057043. It completed its initial public offering in May 2025 and listing on Nasdaq. Class A shares trade under the ticker WENN, units under WENNU, warrants under WENNW on Nasdaq. The vehicle is sponsored by Wen through Wen Sponsor LLC. The mandate targets technology, financial services, digital assets. IPO closed, trust funded, no definitive agreement announced.

we expect to focus on a target in industries that complement our management team’s background, and to capitalize on the ability of our management team to identify and acquire a business, focusing on technology enabled businesses in a diverse range of areas including internet, enterprise technology, software, including artificial intelligence, fintech and blockchain.
The mandate, as stated in the IPO prospectus

Reading the filings

Arithmetic on what WEN 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.

  • Time on the clock

    257 days to the May 19, 2027 deadline. The vehicle is early in its search window, and the deadline is not yet the binding constraint.

  • Sponsor record

    Wen 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 114 SPAC IPOs, book-running 101 of them, and 21.4% 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 ago

Three readings of WEN Acquisition Corp, 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

FOMO

Low

How much attention is this vehicle attracting right now?

19/100

  • Filing activity38

    2 in 30 days

  • News coverage0

    0 stories in 30 days

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

Elevated

How likely is this vehicle to complete a combination, and at what scale?

73/100

  • Lead bank record73

    21.4%

  • Bank franchise87

    114 SPAC mandates

  • Trust scale90

    $313M

  • Stage40

    searching

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.

SEC filing history

Free tier: filings older than 24 hours
  • 10-Q

    Quarterly report

    Accession 0001213900-26-089197

    Aug 13, 2026

    21d ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001062993-26-004307

    Aug 13, 2026

    21d ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001062993-26-002756

    May 16, 2026

    3mo ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0000312069-26-000166

    May 15, 2026

    3mo ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001193125-26-224447

    May 14, 2026

    3mo ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001213900-26-056785

    May 14, 2026

    3mo ago

    Open filing
  • SCHEDULE 13G

    Beneficial ownership report (passive)

    Accession 0001213900-26-035513

    Mar 27, 2026

    5mo ago

    Open filing
  • 10-K

    Annual report

    Accession 0001213900-26-034867

    Mar 26, 2026

    5mo ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001193125-26-051882

    Feb 13, 2026

    6mo ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0000312069-26-000026

    Feb 11, 2026

    6mo ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001062993-26-000200

    Jan 12, 2026

    7mo ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001062993-26-000191

    Jan 12, 2026

    7mo ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001213900-25-109353

    Nov 12, 2025

    9mo ago

    Open filing
  • SCHEDULE 13G

    Beneficial ownership report (passive)

    Accession 0000312069-25-000588

    Nov 12, 2025

    9mo ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001104659-25-099295

    Oct 14, 2025

    10mo ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001213900-25-076650

    Aug 14, 2025

    1y ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001062993-25-014387

    Aug 14, 2025

    1y ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0000950170-25-108456

    Aug 14, 2025

    1y ago

    Open filing
  • 8-K

    Other events

    Items 8.01, 9.01 · Accession 0001213900-25-061483

    Jul 3, 2025

    1y ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001213900-25-059037

    Jun 27, 2025

    1y ago

    Open filing
  • SCHEDULE 13G

    Beneficial ownership report (passive)

    Accession 0001104659-25-055542

    Jun 2, 2025

    1y ago

    Open filing
  • 8-K

    Other events

    Items 8.01, 9.01 · Accession 0001213900-25-047393

    May 23, 2025

    1y ago

    Open filing
  • SCHEDULE 13G

    Beneficial ownership report (passive)

    Accession 0000950170-25-076559

    May 22, 2025

    1y ago

    Open filing
  • SCHEDULE 13G

    Beneficial ownership report (passive)

    Accession 0001062993-25-010047

    May 22, 2025

    1y ago

    Open filing
  • 8-K

    Entry into a material definitive agreement; Other events

    Items 1.01, 3.02, 5.02, 5.03, 8.01, 9.01 · Accession 0001213900-25-045513

    May 19, 2025

    1y ago

    Open filing
  • 424B4

    Final IPO prospectus

    Accession 0001213900-25-044744

    May 16, 2025

    1y ago

    Open filing
  • CERT

    Exchange listing certification

    Accession 0001354457-25-000427

    May 16, 2025

    1y ago

    Open filing
  • EFFECT

    Notice of effectiveness

    Accession 9999999995-25-001625

    May 16, 2025

    1y ago

    Open filing
  • 3

    Initial statement of beneficial ownership

    Accession 0001213900-25-044535

    May 16, 2025

    1y ago

    Open filing
  • 3

    Initial statement of beneficial ownership

    Accession 0001213900-25-044532

    May 16, 2025

    1y ago

    Open filing

WEN Acquisition Corp: questions answered

What is WEN Acquisition Corp (WENN)?

WEN Acquisition Corp is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0002057043. It completed its initial public offering in May 2025 and listing on Nasdaq. Class A shares trade under the ticker WENN, units under WENNU, warrants under WENNW on Nasdaq. The vehicle is sponsored by Wen through Wen Sponsor LLC. The mandate targets technology, financial services, digital assets. IPO closed, trust funded, no definitive agreement announced.

How much does WEN Acquisition Corp hold in trust?

Approximately $313,252,310, 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 WEN Acquisition Corp complete a merger?

By May 19, 2027. 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 WEN 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 WEN 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.

What tickers does WEN Acquisition Corp trade under?

Class A shares trade as WENN on Nasdaq, the units as WENNU, and the warrants as WENNW. 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 WEN 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 WEN 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 WEN Acquisition Corp, and what is their track record?

Wen Sponsor LLC is the sponsor entity, part of the Wen franchise. That franchise has launched 2 vehicles in total, none of which has resolved yet. Named principals: Julian Sevillano.

Which banks underwrote the WEN Acquisition Corp 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 WEN Acquisition Corp tradeable, and where?

Yes. WENN returned a live quote of $10.39 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 WEN Acquisition Corp a good investment?

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

Filings WEN Acquisition Corp submitted to the SEC under CIK 0002057043: 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

SPACListing is a reference-data service, not an investment adviser. Nothing here is a recommendation to buy or sell any security.

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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.