Global Blockchain Acquisition Corp.
GBBK · Nasdaq
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
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 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 ESH Acquisition Corp. / Global Blockchain Acquisition Corp. (Morris Jonathan D), listed on Nasdaq in May 2022.
- 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
- 11 May 2022
- size not on file · 101.5% of each $10 unit into trust
- Headquarters
- 6555 SANGER ROAD, SUITE 200, ORLANDO, FL, 32827
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Morris Jonathan D (Chief Financial Officer) · Weiss Allen R (Director) · Hooper Max Wayne (Chief Executive Officer)
- Listed securities
- GBBK 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.
At the 8 November 2024 event.
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.
What has happened, and what is coming
6 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.
redemption rate not stated in the filing
redemption rate not stated in the filing
Show the earlier 3 milestones
- 11 May 2022IPOpassed
IPO size not on file
redemption rate not stated in the filing
Who has already taken their money back
3 filed eventsEach time shareholders were offered their cash back, some took it. Heavy cash-outs drain the account and shrink the number of shares left — whatever remains has to carry the deal.
Worst single event
—
no filing states a pre-event share count
Shares redeemed, all events
16.57M
across every filed redemption event
Every figure below is stated in the linked filing; nothing here is estimated.
- Nov 8, 2024Extensionno rate stated
Show the other 2 cash-out events
- May 7, 2024Extensionno rate stated
- Aug 8, 2023Extensionno rate statedredeemed 14.82M sh0001213900-24-036621
The score
deterministic, from filed fieldsGBBK 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
Global Blockchain Acquisition Corp. was a blank-check company whose common stock traded on the Nasdaq Stock Market under the ticker GBBK. The company priced its initial public offering on May 11, 2022, as reflected in a 424B prospectus filed with the SEC. On November 4, 2024, the company filed an 8-K announcing that it would liquidate and dissolve promptly in accordance with its amended and restated charter, returning the trust cash to shareholders. The ticker GBBK appears on the cover page of a subsequent 8-K filed on April 14, 2025.
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 $11.11 per share trust value is the floor and this SPAC ultimately liquidated, so holders who redeemed or waited for liquidation realized close to that figure. The asymmetry to note is that the sponsor holds sole discretion over whether each additional month is taken, meaning public holders can be left waiting on a decision they do not control. The November 1, 2024 tender deadline is hard, and missing it forfeits the redemption for that window.
The deficiency is resolved by moving to a market tier with a lower holder requirement rather than by gaining holders, so the listing survives at a lower standard. Compare Capitalworks, which attempted the same transfer and was delisted because it also failed the Capital Market's 300-holder test.
1,683,527 shares were redeemed in connection with the charter amendment, leaving 5,508,353 shares outstanding of which only 745,853 are public shares from the IPO — so the public float is about 13.5% of the share count, which is the direct cause of the 400-holder deficiency reported in the same document. November 12, 2024 is reachable only by funding each of the six monthly contributions. Note the report dates the meeting March 7, 2024, before both the March 28, 2024 record date and the April 26, 2024 proxy it cites.
GBBK ultimately liquidated, so the Cardea merger signed in August 2023 never closed and holders' recovery came from the trust rather than the deal. That makes the May 3, 2024 tender deadline the operative fact: redeeming was the way to realize value, and the sponsor's sole discretion over each further month meant public holders could not control the timeline. Extension votes like this one were the recurring exit windows.
Flagged for review because only the exhibit was read - this is the ANNOUNCEMENT species of 425, a definitive agreement rather than a deck or a transcript. The consideration structure is not a fixed price: the agreement carries a closing calculation, a merger consideration adjustment, an escrow and an earnout, so the headline value cannot be read off it. Separate covenants govern the PIPE investment, extension expenses and trust account proceeds, and Article VIII is a waiver of claims against the trust by the target and its holders.
The SPAC has a target nine days after redeeming two thirds of its shares. Note the item code: the merger agreement is reported under Item 7.01 as FURNISHED information rather than under Item 1.01 as a filed material definitive agreement, so this report carries the reduced liability of a furnishing. No consideration, exchange ratio, valuation, minimum-cash condition or outside date appears anywhere in the document; the company says it intends to file a Form S-4 proxy statement/prospectus.
Show 3 more material filings
This is the deal announcement itself — the biggest possible status change for a blank-cheque company: GBBK now has a named target. But the terms are conspicuously absent from the 8-K body; consideration and implied enterprise value are referenced only in the risk-factor list and sit in the unread Exhibit 99.1, so nothing here lets a holder value the trade. The legend says GBBK only 'intends to file' a Form S-4, so the registration had not been filed as of August 18, 2023. Watch the S-4 for the actual valuation and any minimum-cash condition.
Two thirds of the shares outstanding were redeemed at a single meeting, and the public float that remains — 2,492,380 shares — is about a third of what is left. The monthly extension cost of $30,000 is set against that reduced float. The filing also restates that public stockholders keep a further redemption right at the business combination itself, priced on the trust two business days before that vote, net of taxes.
The sponsor holds sole discretion over whether to keep extending month by month, so approving this proposal does not guarantee nine months; it guarantees only that the decision leaves shareholders' hands. The redemption floor of about $10.45 is stated before deductions for taxes and allowable trust expenses, so the cash actually received will be somewhat lower. With no target disclosed in this document and liquidation as the stated alternative, holders are choosing between a near-certain payout at trust value now and an open-ended wait controlled entirely by the sponsor.
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
trust account, combination deadline, going-concern doubt +1nothing moved · 4 with no prior record of ours
- Trust account
- $26.3M · unchanged
- Combination deadline
- 2024-09-12 · unchanged
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 746K · unchanged
The clause …“condensed consolidated statements of operations. At December 31, 2023, assets held in the Trust Account were comprised of $ 26,295,331 in a money market fund which is invested primarily in U.S. Treasury Securities. Through December 31,”…
The clause …“payment of $ 18.5 million. If the Company is unable to complete an initial Business Combination by September 12, 2024, as extended monthly for up to six months (ultimately until as late as November 12, 2024), or amend its charter to”…
The clause …“a Business Combination not occur, and potential subsequent dissolution, raise substantial doubt about the Company’s ability to continue as a going concern. Management intends to complete a Business Combination; however, the Company”…
The clause “0,000,000 shares authorized; 4,762,500 shares issued and outstanding, excluding 745,853 and 2,429,380 shares subject to possible redemption, as of September 30, 2024 and December 31, 2023, respectively 476 476 Preferred stock, $ 0.0001”…
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.
Extension reliance: 4 extension votes across 2 in-DB vehicles (2.0 per vehicle; 3+ scores zero).
Mixed record · low confidence
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 · 101.5% of the $10 unit
from 424B4 0001213900-22-025584
Trading & liquidity
Company profile
Directors & officers
- Morris Jonathan DChief Financial Officer
- Weiss Allen RDirector
- Hooper Max WayneChief Executive Officer
- Ensey ChristopherDirector
- Ruttenberg David L.Director
- Metcalf David S.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
7 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.
- Fourcore Capital Inc.79.2% · SC 13DNov 15, 2024 stale
- Walleye Capital LLC0.0% · SC 13G/ADec 4, 2024 stale
- Global Blockchain Sponsor, LLCwith 1 other reporting person on the same schedule0.0% · SC 13D/ANov 15, 2024 stale
- Karpus Management, Inc.0.0% · SC 13G/AJun 7, 2024 stale
- Polar Asset Management Partners Inc.0.0% · SC 13G/AFeb 13, 2024 stale
- HIGHBRIDGE CAPITAL MANAGEMENT LLC0.0% · SC 13G/AJan 19, 2024 stale
- Space Summit Capital LLC0.0% · SC 13G/AFeb 8, 2023 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 — GBBK (Global Blockchain Acquisition Corp.)
vault-note · /vault/tickers/GBBK
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 trail3 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 0001213900-22-025584 priced 2022-05-11; common ticker GBBK off 8-K 0001213900-25-031527 (2025-04-14); lifecycle EXITED. Ending PROVEN, not inferred: LIQUIDATED per 8-K 0001213900-24-093705 (2024-11-04) — announced liquidation of the trust account: “…will liquidate and dissolve promptly in accordance with its amended and restated charter, (as amended the " Charter "), and its Sponsor's obligation to make additional contributions will terminate. Waiver of Dissolution Expenses from Trust Account Interest The Company also announced that is has agreed to waive its righ…”. 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, warrantCallPrice=18, rightShareRatio=0.1, unitSeparationDays=52 from the definitive prospectus (0001213900-22-025584).
sponsor "Global Blockchain Sponsor, LLC" (SEC CIK 0001920920) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-22-024995.