The de-SPAC is becoming an on-ramp for Asian issuers. 43% of announced H1 targets were non-US. The completed winners shared two traits: committed PIPEs and low redemptions.
| Deal | Sector | Country | Redemption | PIPE | Return vs $10 | SPAC vehicle |
|---|---|---|---|---|---|---|
| Boost Run | AI Infrastructure | — | 0% | — | ▲+198% | — |
| Horizon Quantum | Quantum Computing | SG | 85.2% | $109mm | ▲+138% | dMY Squared Technology Group |
| Suncrete | Manufacturing | US | 56.5% | $167mm | ▲+89% | Haymaker Acquisition Corp. 4 |
| Presidio Production | Energy | — | 96% | $88mm | ▲+20% | — |
| Infleqtion | Quantum Computing | US | 0.1% | $127mm | ▲+15% | — |
| IQM Quantum Computers · IQMX | Quantum Computing | FI | 0% | $145mm | ▲+15% | — |
| Xanadu Quantum | Quantum Computing | CA | 88.3% | $275mm | ▲+12% | — |
| Factorial Energy · FAC | Batteries / Energy Tech | US | — | — | ▼-9% | — |
| Einride · ENRD | Autonomous Freight | SE | — | — | ▼-18% | Legato Merger Corp. III |
| Teamshares · TMS | SMB Holding / Fintech | US | — | — | ▼-24% | Live Oak Acquisition Corp. V |
| Securitize · SECZ | Tokenization Platform | US | — | — | ▼-26% | Cantor Equity Partners II |
| Eagle Nuclear Energy | Nuclear Energy | — | — | — | ▼-27% | — |
| AIR Global | — | — | — | — | ▼-32% | — |
| Evolution Metals & Technologies | Critical Minerals | — | — | — | ▼-46% | — |
| SL Science · SLBT | Biotech | — | — | — | ▼-57% | — |
| Merlin | — | — | — | — | ▼-57% | — |
| CoinShares | Crypto Asset Manager | GB | — | — | ▼-60% | — |
| VERAXA Biotech · VRXA | Biotech | CH | — | — | ▼-72% | Voyager Acquisition Corp. |
| Enhanced Group | — | — | — | — | ▼-74% | — |
| Greenland Energy | Energy | — | — | — | ▼-78% | — |
| StablecoinX · USDE | Digital Asset Treasury | US | 99.6% | $893mm | ▼-80% | TLGY Acquisition Corp. |
| Hadron Energy | Energy | — | — | — | ▼-81% | — |
| Avalanche Treasury · AVAT | Digital Asset Treasury | US | — | — | ▼-95% | Mountain Lake Acquisition Corp. |
| Cybra | — | — | — | — | ▼-96% | — |
Our own JP de-SPAC track record — TOYO, plus historical SBC / NCNC / AWIN — sits in the main deal database. Filed › · League tables ›