Research · Living data · Updated 2026-07-17
Every special purpose acquisition company by status — pre-deal, announced, completed, and liquidated — with trust value and target.
The SPAC universe expands and contracts in waves, and keeping an accurate list of who is still hunting for a deal is harder than it sounds. NextTrack tracks 3,008 special purpose acquisition companies across their entire lifecycle, of which roughly 444 are still seeking a target. The average trust backing a share sits near $10.35. Those numbers refresh from SEC filings on every rebuild, so this is a living list rather than a one-time snapshot.
| Metric | Live figure |
|---|---|
| NextTrack tracks | 3,008 SPACs |
| SPACs still seeking a target | 444 |
| Average trust per share | $10.35 |
| Last updated | 2026-07-17 |
Every SPAC moves through the same arc, and NextTrack classifies each one by **computed status** rather than a hand-typed label:
- **Pre-deal / seeking** — IPO done, cash in trust, no target announced yet. The share trades near trust value, which acts as a floor because holders can redeem. - **Announced** — a definitive merger agreement is signed and the proxy or S-4 is filed. The trade becomes a merger-arbitrage situation. - **Completed (de-SPAC)** — the combination closes, the ticker changes to the target, and the trust floor disappears. - **Liquidated** — the deadline passed without a deal and capital was returned to shareholders.
Because status is derived from filing history, the pre-deal and announced buckets stay current automatically as new 8-Ks and DEFM14As hit EDGAR.
Pre-deal, a SPAC share is essentially a Treasury bill with an option attached. Each share is backed by roughly $10.00 at IPO plus accrued interest, and across the live universe the average trust per share is about $10.35. That figure is the **redemption floor** — the amount a holder can reclaim regardless of how they vote — which is why pre-deal SPACs rarely trade far below it.
The spread between market price and trust value is the tell. Trading a few cents below trust is normal; trading meaningfully above it means the market is pricing in a good deal or a strong sponsor.
With about 444 SPACs still searching against a total of 3,008 tracked, the live question for 2026 is the clock: every seeking SPAC is racing a trust deadline, and the closer that deadline, the more the extension-vote dynamics matter. The sample below shows announced deals; the full list — filterable by status, trust value, sponsor, and deadline — is in the app.
SPACs are sourced directly from SEC EDGAR — S-1 / 424B4 IPO registrations, 8-K deal announcements, DEFM14A vote materials — and reconciled daily against exchange listings. Trust value per share is derived from the filings and updated as interest accrues and redemptions occur. For the warrants attached to these units, see the [SPAC warrant tracker](/research/spac-warrant-tracker).
SPAC dataset & methodology · SPAC warrant tracker · 2026 mergers & M&A