COVA Acquisition Corp.
COVA · Nasdaq · formerly Crescent Cove Acquisition Corp.
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 COVA Acquisition Sponsor LLC, listed on Nasdaq in February 2021.
- What it's doing now
- It agreed to buy ECARX Holdings Inc., an automotive technology solutions company. 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
- ECARX Holdings Inc.
- Industry
- Information Technology — automotive technology solutions
- Deal value
- not stated in the filings we hold
- 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
- 8 February 2021
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 530 BUSH STREET, SUITE 703, SAN FRANCISCO, CA, 94108
- registered in the Cayman Islands
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Heng Jun Hong (Chairman, CEO and CFO) · Smith Jack (Director) · Sjahrir Pandu (Director)
- Listed securities
- COVA 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
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.
- 8 February 2021IPOpassed
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.
- closedInformation TechnologySEC primary
What ECARX Holdings Inc. does — read from ecarxgroup.com on 26 August 2026
ECARX develops full-stack automotive technology solutions for the automotive industry, focusing on software-defined and AI-defined vehicle architectures. Their offerings include Digital Cockpit, Centralised Domain Controller, AD/ADAS, and software-services. The company states its solutions are powering over 11 million vehicles.
automotivesoftware-defined mobilityAI-defined vehicle architectures
The score
deterministic, from filed fieldsCOVA 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
COVA Acquisition Corp. (Nasdaq: COVA) was a blank-check company classified under SEC SIC industry code 6770. Its initial public offering was priced on February 8, 2021, according to a 424B prospectus. The company's common ticker COVA appears on the cover page of an 8-K filed on December 15, 2022. COVA Acquisition Corp. completed a business combination and no longer files as a separate vehicle, with its closed status established by a Form 25 filed on December 20, 2022, under 17 CFR 240.12d2-2(a)(3), reflecting that its Class A ordinary shares, warrants to purchase Class A ordinary shares, and units came to evidence other securities in substitution therefor.
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 share capital is re-cut before the merger so that the founders keep control: ECARX's preferred shares convert one-for-one into ordinary shares, and the ordinary shares are then re-designated into Class A carrying one vote and Class B carrying ten, with the Co-Founder Shares becoming Class B. The re-designation also creates very large headroom — 7,766,956,008 authorised but unissued shares become Class A, 958,958,360 become Class B, and 1,000,000,000 more are left for the board to designate. Par value is US$0.000005 per share.
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: COVA Acquisition Corp. issued definitive merger materials for an extraordinary general meeting on the Agreement and Plan of Merger dated May 26, 2022 with ECARX Holdings Inc. and two Cayman merger subs. Merger Sub 1 merges into COVA, then the surviving entity merges into Merger Sub 2, leaving it a wholly owned subsidiary of ECARX Holdings and COVA's shareholders as ECARX shareholders. The document is also a prospectus for up to 62,372,000 ECARX Class A Ordinary Shares and 24,872,000 ECARX warrants. Why it matters: The share capital is re-cut before the merger so that the founders keep control: ECARX's preferred shares convert one-for-one into ordinary shares, and the ordinary shares are then re-designated into Class A carrying one vote and Class B carrying ten, with the Co-Founder Shares becoming Class B. The re-designation also creates very large headroom — 7,766,956,008 authorised but unissued shares become Class A, 958,958,360 become Class B, and 1,000,000,000 more are left for the board to designate. Par value is US$0.000005 per share.
- What changed vs 2022-08-10trust $300.6M → $301.9M +0%deadline 2023-02-04 → 2023-02-09
trust account, combination deadline, going-concern doubt +32 moved · 4 with no prior record of ours
- Trust account
- $300.6M$301.9M
- Combination deadline
- 2023-02-042023-02-09
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $83K · unchanged
- Mandate language
- we intend to focus our search for a target in the high growt… · unchanged
- Redeemable shares
- 30.0M · unchanged
SpacBrain reads this as $1,319,523 was added to the trust between the two filings.
The clause …“282,673 795,742 Prepaid expenses – non-current portion — 75,616 Investments held in Trust Account 301,933,145 300,053,996 Total Assets $ 302,215,818 $ 300,925,354 Liabilities, Class A Ordinary Shares Subject to Possible Redemption,”…
SpacBrain reads this as 5 days later than the previous record.
The clause …“forced to cease operations and liquidate the Trust Account. The Company will have until February 9, 2023 to complete a Business Combination or it would be required to cease all operations and liquidate. The liquidity concerns and the”…
The clause …“concerns and the date for mandatory liquidation and dissolution raise substantial doubt about the Company’s ability to continue as a going concern until the earlier of the consummation of a Business Combination or one year from”…
The clause …“the earlier of September 30, 2022 or the closing of the IPO. The Company had borrowed $ 83,046 under the promissory note, and the Note was paid in full at the closing of the IPO on February 9, 2021. As of September 30, 2022 and”…
The clause …“500,000,000 shares authorized; no shares issued and outstanding (excluding 30,000,000 shares subject to possible redemption) at September 30, 2022 and December 31, 2021 — — Class B ordinary shares, $ 0.0001 par value; 50,000,000”…
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 2022-05-13trust $300.2M → $300.6M +0%
trust account, combination deadline, going-concern doubt +31 moved · 5 with no prior record of ours
- Trust account
- $300.2M$300.6M
- Combination deadline
- 2023-02-04 · unchanged
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $83K · unchanged
- Mandate language
- we intend to focus our search for a target in the high growt… · unchanged
- Redeemable shares
- 30.0M · unchanged
SpacBrain reads this as $450,701 was added to the trust between the two filings.
The clause …“509,791 795,742 Prepaid expenses – non-current portion — 75,616 Investments held in Trust Account 300,613,622 300,053,996 Total Assets $ 301,123,413 $ 300,925,354 Liabilities, Class A Ordinary Shares Subject to Possible Redemption,”…
The clause …“forced to cease operations and liquidate the Trust Account. The Company will have until February 4, 2023 to complete a Business Combination or it would be required to cease all operations and liquidate. The liquidity concerns and the”…
The clause …“concerns and the date for mandatory liquidation and dissolution raise substantial doubt about the Company’s ability to continue as a going concern until the earlier of the consummation of a Business Combination or one year from”…
The clause …“on the earlier of June 30, 2022 or the closing of the IPO. The Company had borrowed $ 83,046 under the promissory note, and the Note was paid in full at the closing of the IPO on February 9, 2021. As of June 30, 2022 and December 31,”…
The clause …“500,000,000 shares authorized; no shares issued or outstanding (excluding 30,000,000 shares subject to possible redemption) at June 30, 2022 and December 31, 2021 — — Class B ordinary shares, $ 0.0001 par value; 50,000,000 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.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
COVA Acquisition 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 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 0001213900-21-007418
Trading & liquidity
Company profile
Directors & officers
- Heng Jun HongChairman, CEO and CFO
- Smith JackDirector
- Sjahrir PanduDirector
- Sariaatmadja AlvinDirector
- Dhillon Karanveer K.V.Director
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
1 filer 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.
- ARISTEIA CAPITAL LLC5.5% · SC 13GFeb 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.
News
company wires and the financial pressReporting we have matched to this ticker. Headlines belong to the outlets that wrote them.
Show the headlines
- ECARX to Go Public in $3.82 Billion Merger with COVA Acquisition Corp
PR Newswireundated by the source
- ECARX and COVA Acquisition Corp. Announce Closing of Business Combination
PR Newswireundated by the source
- ECARX-Backed Chip Maker SiEngine Secures US$200M Equity Financing
PR Newswireundated by the source
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
35 full SEC filing texts archived — searchable, never lost.
- Vault note — COVA (COVA Acquisition Corp.)
vault-note · /vault/tickers/COVA
- Vault deal note — ECARX Holdings Inc. (COVA)
vault-note · /vault/deals/ecarx-holdings-inc
- ECARX - 2026 Company Profile, Team, Funding, Competitors & Financials - Tracxn
news · tracxn.com
- Ihre Datenschutzeinstellungen
news · consent.yahoo.com
- Home | ECARX develops technology solutions for the automotive industry
company-site · ecarxgroup.com
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 trail4 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 0001213900-21-007418 priced 2021-02-08; common ticker COVA off 8-K 0001104659-22-127395 (2022-12-15); lifecycle EXITED. Ending PROVEN, not inferred: CLOSED per Form 25 0001354457-22-000751 (2022-12-20) — 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 Ordinary Share, Warrants to purchase Class A ordinary shares, 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.
sponsor "COVA Acquisition Sponsor LLC" sourced from prospectus definition (10-K) acc 0001213900-22-014873.
[CLOSED-2.01] SEC accession 0001104659-22-129098 (Form 8-K, item 2.01 Completion of Acquisition or Disposition of Assets); the cover's date of earliest event reported is 2022-12-20. That is the SEC's own date for this report and NOT necessarily the closing day — an 8-K may cover several events, and where the two differ the closing date is in the quoted sentence below. Target read STRUCTURALLY from the merger agreement's party list — the party that is neither the registrant (identified by the filing's own cover page) nor a merger sub (identified by the clause making it a subsidiary of another party) nor an accommodation party (identified by a "solely for purposes of" joinder), and it was the only one left. The sentence it was read from: "("COVA"), a Cayman Islands exempted company consummated its previously disclosed business combination (the "Business Combination") in accordance with the terms of the Agreement and Plan of Merger, dated May 26, 2022 (the "Merger Agreement"), by and among COVA, ECARX Holdings Inc. ("ECARX"), Ecarx Temp Limited ("Merger Sub 1"), a wholly-owned subsidiary of ECARX and Ecarx&Co Limited ("Merger Sub 2"), a wholly owned subsidiary of ECARX." No deal value is set — an item-2.01 heading is not a figure. No date column is set: Deal has announcedAt, voteDate and expectedCloseAt and nowhere to record an actual close, so the SEC's date is kept here until that column exists.
entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read