Atlantic Avenue Acquisition Corp
ASAQ · NYSE · formerly Atlantic Street Acquisition Corp
NO ACTION REQUIRED
Nothing left to do
The cash went back to shareholders and the company wound up. There is no deadline left to miss.
Cash at settlement
The last figure filed while this was still a SPAC.
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 trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
In plain terms
- What it is
- A SPAC from Atlantic Avenue Partners LLC, listed on NYSE in October 2020.
- What it's doing now
- It never completed a purchase. The company wound up and the cash in the account went back to shareholders — the ordinary ending when a SPAC runs out of time. No agreed deal for it is on file with us, so we cannot say whether one was ever announced and later fell through.
- What you should know
- This SPAC has finished. The cash was paid back to shareholders and the company wound up, so there is nothing left to claim — the money went where the charter said it would.
At a glance
- Where it stands
- Liquidated
- Deal
- none — it wound up and returned the cash instead
- Industry
- no filing we hold states a sector this SPAC restricted its search to
- Deal value
- no deal to value — it wound up instead
- 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
- 5 October 2020
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 2200 ATLANTIC STREET, STAMFORD, CT, 06902
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- GLAZER PAUL J · Nayyar Ashok (Chief Executive Officer)
- Listed securities
- ASAQ common
As last filed, 4 October 2022. That was the account's last filed value before it was settled — the company does not hold it now.
source: 8-K acc 0001140361-22-035903
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 trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
- $10.03 a share is the last cash figure filed while this was still a SPAC. It is a record of what the account held, not money anyone can ask for now.
What has happened, and what is coming
1 dated milestoneEvery 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.
- 5 October 2020IPOpassed
IPO size not on file
The score
deterministic, from filed fieldsASAQ 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 — 295 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
Atlantic Avenue Acquisition Corp was a blank-check company whose common stock traded on the New York Stock Exchange under the ticker ASAQ. The company priced its initial public offering on October 5, 2020, per 424B prospectus 0001140361-20-022443. On October 4, 2022, the company filed an 8-K, 0001140361-22-035903, announcing the redemption of all outstanding public shares at a per-share price of approximately $10.03. The filing stated that the public shares would be deemed cancelled as of the close of business on October 6, 2022, completing the liquidation of the company.
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.
The fee structure is unusual and favourable: the underwriters took a $5,000,000 discount at closing and the balance sheet carries no deferred underwriting commission at all, only $640,067 of deferred legal fees, so a completed deal does not trigger the customary 3.5 percent trust deduction. Pre-IPO funding also came partly from a co-investment vehicle and a $300,000 advance from independent directors. Working capital is positive at roughly $1.35 million and no going-concern doubt is asserted; trust sits at a bare $10.00 per share.
Its fee table is the anomaly: $10.00 per share to the public, $0.20 of underwriting discount, $9.80 of proceeds - $5,000,000 on $250,000,000, with NO deferred commission line and no footnote adding one. The only mentions of a deferred underwriting discount in the whole document are inside the generic 80%-fair-market-value test. This tier's default assumption is $0.20 up front plus $0.35 deferred sitting in the trust; here 3.5% of the trust that would normally belong to the underwriters appears to belong to holders instead.
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 2022-05-16trust $250.0M → $250.4M +0%
trust account, combination deadline, going-concern doubt +21 moved · 4 with no prior record of ours
- Trust account
- $250.0M$250.4M
- Combination deadline
- 2022-10-06 · unchanged
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $183K · unchanged
- Redeemable shares
- 25.0M · unchanged
SpacBrain reads this as $327,509 was added to the trust between the two filings.
The clause …“expenses 32,048 102,713 Total current assets 679,595 1,188,650 Investments held in Trust Account 250,364,705 250,021,058 Total Assets $ 251,044,300 $ 251,209,708 Liabilities, Redeemable Common Stock and Stockholders’ Deficit”…
The clause …“Going Concern,” management has determined that if we are unable to complete a Business Combination by October 6, 2022, then we will cease all operations except for the purpose of liquidating. The date for mandatory liquidation and”…
The clause …“The date for mandatory liquidation and subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities”…
The clause …“of September 30, 2021 and the closing of the Public Offering. The Company borrowed $ 183,143 under the promissory notes and repaid the amount in full on the consummation of the IPO, at which time the promissory notes matured. The”…
The clause …“value; 300,000,000 shares authorized; none issued and outstanding, excluding 25,000,000 shares subject to possible redemption at June 30, 2022 and December 31, 2021 — — Class B common stock, $ 0.0001 par value; 30,000,000 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.
- What changed vs 2021-11-12trust $250.0M → $250.0M +0%
trust account, combination deadline, going-concern doubt +21 moved · 4 with no prior record of ours
- Trust account
- $250.0M$250.0M
- Combination deadline
- 2022-10-06 · unchanged
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $183K · unchanged
- Redeemable shares
- 25.0M · unchanged
SpacBrain reads this as $21,444 was added to the trust between the two filings.
The clause …“expenses 67,575 102,713 Total current assets 1,006,811 1,188,650 Investments held in Trust Account 250,037,196 250,021,058 Total Assets $ 251,044,007 $ 251,209,708 Liabilities, Redeemable Common Stock and Stockholders’ Deficit”…
The clause “Concern,” management has determined that if the Company is unable to complete a Business Combination by October 6, 2022, then the Company will cease all operations except for the purpose of liquidating. The date for mandatory liquidation”…
The clause …“6, 2022. The date for mandatory liquidation and subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities”…
The clause …“of September 30, 2021 and the closing of the Public Offering. The Company borrowed $ 183,143 under the promissory notes and repaid the amount in full on the consummation of the IPO, at which time the promissory notes matured. The”…
The clause …“value; 300,000,000 shares authorized; none issued and outstanding, excluding 25,000,000 shares subject to possible redemption at March 31, 2022 and December 31, 2021 — — Class B common stock, $ 0.0001 par value; 30,000,000 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.
- What changed vs 2021-03-25trust $250.0M → $250.0M +0%going concern APPEAREDshares 24.6M → 25.0M +2%
trust account, going-concern doubt, redeemable shares +33 moved · 3 with no prior record of ours
- Trust account
- $250.0M$250.0M
- Going-concern doubt
- not statedstated
- Redeemable shares
- 24.6M25.0M
- Combination deadline
- not previously extracted2022-10-06
- Sponsor loans outstanding
- $183K · unchanged
- Mandate language
- We are focusing on businesses that can benefit from the MC i… · unchanged
SpacBrain reads this as $16,509 was added to the trust between the two filings.
The clause …“expenses 102,713 246,814 Total current assets 1,188,650 1,774,476 Investments held in Trust Account 250,021,058 250,004,549 Total Assets $ 251,209,708 $ 251,779,025 Liabilities, Redeemable Common Stock and Stockholders’ Deficit”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“accounting firm’s report contains an explanatory paragraph that expresses substantial doubt about our ability to continue as a “going concern.” • Our warrants are accounted for as liabilities and changes in the value of our warrants”…
SpacBrain reads this as 403,710 more shares carry a redemption right.
The clause …“and subject to the occurrence of uncertain future events. Accordingly, 25,000,000 shares of Class A common stock subject to possible redemption is presented at redemption value as temporary equity, outside of the stockholders’”…
The clause …“except for the purpose of liquidating. The Company plans to complete a Business Combination by October 6, 2022. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to”…
The clause …“of September 30, 2021 and the closing of the Public Offering. The Company borrowed $ 183,143 under the promissory notes and repaid the amount in full on the consummation of the IPO. The loan was repaid out of the offering proceeds”…
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.
Atlantic Avenue Partners 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 1280 tracked SPACs (24%) 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
Unit: U = S + W/2 · 100.0% of the $10 unit
from 424B4 0001140361-20-022443
Trading & liquidity
Company profile
Directors & officers
- GLAZER PAUL J10% owner
- Nayyar AshokChief Executive Officer
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
5 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.
- Atlantic Avenue Partners LLCwith 2 other reporting persons on the same schedule15.4% · SC 13GFeb 3, 2021 stale
- BARCLAYS PLCwith 2 other reporting persons on the same schedule6.3% · SC 13GFeb 10, 2022 stale
- Saba Capital Management, L.P.with 1 other reporting person on the same schedule5.2% · SC 13GOct 8, 2021 stale
- GLAZER CAPITAL, LLCwith 1 other reporting person on the same schedule2.3% · SC 13G/AJul 12, 2021 stale
- CITADEL ADVISORS LLCwith 6 other reporting persons on the same schedule0.3% · SC 13G/AFeb 14, 2022 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
39 full SEC filing texts archived — searchable, never lost.
- Vault note — ASAQ (Atlantic Avenue Acquisition Corp)
vault-note · /vault/tickers/ASAQ
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 trail2 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 0001140361-20-022443 priced 2020-10-05; common ticker ASAQ off 8-K 0001140361-22-035903 (2022-10-04); lifecycle EXITED. Ending PROVEN, not inferred: LIQUIDATED per 8-K 0001140361-22-035903 (2022-10-04) — announced redemption of all public shares: “…will redeem all of the outstanding shares of Class A common stock that were included in the units issued in its initial public offering (the "Public Shares"), at a per-share redemption price of approximately $10.03. As of the close of business on October 6, 2022, the Public Shares will be deemed cancelled and will repr…”. Trust at settlement $10.03/share, stated in that filing. 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.
sponsor "Atlantic Avenue Partners LLC" sourced from prospectus definition (10-K/A) acc 0001140361-21-020940.