Acri Capital Acquisition Corp
ACAC · Nasdaq
NO ACTION REQUIRED
Nothing left to do
The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
In plain terms
- What it is
- A SPAC from Acri Capital Sponsor LLC, listed on Nasdaq in June 2022.
- What it's doing now
- It agreed to buy Foxx Development Inc., a Consumer electronics and mobile device development company company. The deal valued that business at about $50M. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
- What you should know
- This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.
At a glance
- Where it stands
- Closed (deSPAC)
- The business it bought
- Foxx Development Inc.
- Industry
- Consumer electronics and mobile device development company
- Deal value
- $50M
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 10 June 2022
- size not on file · 102.0% of each $10 unit into trust
- Headquarters
- 13284 POND SPRING RD, AUSTIN, TX, 78729
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Hua Joy Yi (CEO, CFO, and Chairwoman) · Hardin James Craig Jr. (Director) · Pierce Andrew James (Director)
- Listed securities
- ACAC common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
What has happened, and what is coming
2 dated milestonesEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 10 June 2022IPOpassed
IPO size not on file
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- closedpost-close FOXXSEC primary
The score
deterministic, from filed fieldsACAC is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
Acri Capital Acquisition Corp (Nasdaq: ACAC) is a blank-check company with SEC CIK 0001914023 and SIC industry code 6770. The company priced its initial public offering on June 10, 2022, per 424B prospectus 0001213900-22-032252, with trust terms of $10.20 per unit and an 18-month deadline. The common ticker ACAC is printed on the cover page of 8-K 0001213900-24-078551, filed on September 13, 2024. The company completed a business combination and no longer files, with its closed status established by Form 25 0001354457-24-000724 filed on September 26, 2024, indicating its Class A Common Stock, Warrant, and Unit became the successor's securities.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
Public holders face a binary choice the document makes explicit: redeem for the pro rata trust amount, in which case the share represents only the right to be paid a redemption price, or roll one-for-one into purchaser common stock and take equity risk in the combined company. The proxy models a maximum redemptions scenario, the standard acknowledgement that most trust cash may leave. The $11.50 warrant strike sits above trust value, so the 12,552,500 registered warrants are out of the money at inception.
The disclosed 80% redemption scenario, under which the monthly deposit falls to about $21,483, tells you the company itself expects most of the trust to leave at this vote. Once approved, the board can extend nine more times with no further shareholder say, so this is the last redemption opportunity holders control until a deal is put to them. Deposits of $0.033 per share per month accrete the trust by roughly a third of a cent, so waiting earns almost nothing while the sponsor gains nine months of optionality funded by loans repayable on closing.
Nearly doubling the monthly deposit to 6.25 cents a share is a rare move in the sponsor's disfavour and genuinely accretive for ACAC holders who stay — over nine months it adds about 56 cents per share. Because the payment scales with the shares remaining, redemption by others does not dilute the benefit to those left. With all 8,625,000 Class A shares public, insiders control only the 2,156,250 Class B block.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
Show the other 10 filings
- What changed vs 2024-05-13trust $51.5M → $36.7M -29%
trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $51.5M$36.7M
- Combination deadline
- 2025-01-14 · unchanged
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 3.26M · unchanged
SpacBrain reads this as $14,842,290 left the trust between the two filings.
The clause …“Trust Account At June 30, 2024 and December 31, 2023, we had $ 21,214,423 and $ 36,672,846 of the assets held in the Trust Account were held in money market funds, which are invested in short term U.S. Treasury securities. All of the”…
The clause …“Deadline on a monthly basis from April 14, 2024 for up to nine times, up to January 14, 2025, by depositing $50,000 each month into the Trust Account. As of the date of this report, between July 12, 2023 and March 12, 2024, an”…
The clause …“of a Business Combination. In connection with the Company’s assessment of going concern considerations in accordance with the FASB Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability”…
The clause …“authorized, none issued and outstanding (excluding 1,815,384 shares and 3,255,050 shares subject to possible redemption as of June 30, 2024 and December 31, 2023) - - Class B common stock, $ 0.0001 par value, 2,500,000 shares”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Acri Capital Sponsor LLCnamed as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1283 tracked SPACs (23%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
from 424B4 0001213900-22-032252
Trading & liquidity
Company profile
Directors & officers
- Hua Joy YiCEO, CFO, and Chairwoman
- Hardin James Craig Jr.Director
- Pierce Andrew JamesDirector
- MILLER EDMUND RDirector
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
12 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- Acri Capital Sponsor LLCwith 1 other reporting person on the same schedule20.0% · SC 13DJun 13, 2022 stale
- MIZUHO FINANCIAL GROUP INC7.0% · SC 13GFeb 13, 2024 stale
- Karpus Management, Inc.6.4% · SC 13G/ANov 7, 2024 stale
- Sea Otter Advisors LLCwith 2 other reporting persons on the same schedule5.7% · SC 13G/AFeb 14, 2024 stale
- AQR CAPITAL MANAGEMENT LLCwith 1 other reporting person on the same schedule5.5% · SC 13GFeb 14, 2024 stale
- Space Summit Capital LLC4.4% · SC 13G/AFeb 7, 2023 stale
- Feis Lawrence Michaelwith 1 other reporting person on the same schedule4.3% · SC 13G/AJun 23, 2022 stale
- Universal-Investment-Gesellschaft mbH4.1% · SC 13GFeb 9, 2024 stale
- WOLVERINE ASSET MANAGEMENT LLCwith 4 other reporting persons on the same schedule0.0% · SC 13G/AOct 16, 2024 stale
- Cubist Systematic Strategies, LLCwith 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 14, 2024 stale
- Polar Asset Management Partners Inc.0.0% · SC 13G/AFeb 9, 2024 stale
- Saba Capital Management, L.P.with 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 7, 2024 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
38 full SEC filing texts archived — searchable, never lost.
- Vault note — ACAC (Acri Capital Acquisition Corp)
vault-note · /vault/tickers/ACAC
- Vault deal note — Foxx Development Inc. (ACAC)
vault-note · /vault/deals/foxx-development-inc
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail7 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from the HISTORICAL census (EDGAR's SIC 6770 registrant list, walked in full: 3,325 registrants, 1,167 of which ever priced an IPO). The live discovery job cannot reach this registrant — it reads the filing tape, and this one stopped filing. Admission rule: src/lib/universe-admit.ts. SIC 6770 (Blank Checks); 424B 0001213900-22-032252 priced 2022-06-10; common ticker ACAC off 8-K 0001213900-24-078551 (2024-09-13); lifecycle EXITED. Ending PROVEN, not inferred: CLOSED per Form 25 0001354457-24-000724 (2024-09-26) — Form 25 filed under 17 CFR 240.12d2-2(a)(3) — the rule for securities that "have come to evidence other securities in substitution therefor", i.e. the shares became the successor's (class: Class A Common Stock, Warrant, Unit). ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
warrantStrike=11.5 from the definitive prospectus (0001213900-22-032252). NOT FILLED: warrantCallPrice — no stated candidate; rightShareRatio — no stated candidate; unitSeparationDays — no stated candidate
sponsor "Acri Capital Sponsor LLC" (SEC CIK 0001914031) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-22-032100.
AI-extracted target (z-ai/glm-5.2, conf 0.95)
target recovered for a completed de-SPAC; no agreement-naming filing on file, so announcedAt is NULL rather than guessed
entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read