Pacifico Acquisition Corp.
PAFO · 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 Pacifico Acquisition Corp. / Redwoods Acquisition Corp. (Wang Cong Edward), listed on Nasdaq in September 2021.
- What it's doing now
- It agreed in November 2022 to buy Caravelle Group Co., Ltd., an Ocean shipping, wood drying, and carbon trading 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
- Caravelle Group Co., Ltd.
- Industry
- Ocean shipping, wood drying, and carbon trading (CO-Tech) business
- Deal value
- not stated in the filings we hold
- announced 10 November 2022
- 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
- 14 September 2021
- size not on file · 101.0% of each $10 unit into trust
- Headquarters
- C/O PACIFICO CAPITAL LLC, NEW YORK, NY, 10175
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Wang Cong Edward (Chief Executive Officer) · Gibbs Raymond John (Director) · Zhong Yi Alan (Chief Financial Officer)
- Listed securities
- PAFO 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.
- 14 September 2021IPOpassed
IPO size not on file
- 10 November 2022Deal announcedpassed
Combination with Caravelle Group Co., Ltd.
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- Caravelle Group Co., Ltd.— · announced 10 November 2022closedpost-close CACOSEC primary
The score
deterministic, from filed fieldsPAFO 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
Pacifico Acquisition Corp. was a blank-check company whose common stock traded on the Nasdaq Stock Market under the ticker PAFO. The company priced its initial public offering on September 14, 2021, as reflected in its 424B prospectus. Its lifecycle is closed: it completed a business combination and no longer files as a standalone vehicle. The closing is established by a Form 25 filed on December 16, 2022, under 17 CFR 240.12d2-2(a)(3), indicating that the shares came to evidence other securities in substitution therefor, covering the company's Common Stock, Right, and Unit classes. The PAFO ticker appears on the cover page of an 8-K filed on December 7, 2022.
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 50,000,000 PubCo shares issued as consideration dwarf what a $58.2 million trust can buy, so Pacifico's public holders will be a small minority of the combined company regardless of redemptions. At $10.14 the market price sits four cents above the $10.10 redemption value, so selling marginally beats redeeming, which is unusual and suggests some holders are pricing in deal upside. Redemption remains available whether a holder votes for the merger or not, so the cash floor is preserved for anyone who prefers it.
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 2022-08-12trust $58.2M → $58.9M +1%
trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $58.2M$58.9M
- Combination deadline
- not previously extracted2022-12-16
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 5.75M · unchanged
SpacBrain reads this as $793,609 was added to the trust between the two filings.
The clause …“Cash $ 11,892 $ 217,818 Prepaid expense 63,388 181,160 Marketable securities held in trust account 58,945,268 58,076,305 Total Current Assets 59,020,548 58,475,283 Total Assets $ 59,020,548 $ 58,475,283 LIABILITIES, REDEEMABLE COMMON”…
The clause …“time for Pacifico to complete the Business Combination by three months until December 16, 2022. It is uncertain that the Company will be able to consummate a Business Combination by this date. If a Business Combination is not”…
The clause “14-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern”, management has determined that if the Company is unable to complete a Business Combination within 15 months from the closing of the IPO, then”…
The clause …“of September 30, 2022, there were 1,745,000 shares of common stock (excluding 5,750,000 shares subject to possible redemption). Rights — Except in cases where the Company is not the surviving company in a Business Combination, each”…
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: Pacifico Acquisition Corp. issued a proxy dated November 9, 2022, mailed on or about November 10, for a special meeting on November 30, 2022 at 10:00 a.m. Eastern to approve its amended and restated merger agreement of August 15, 2022 with Caravelle International Group as PubCo. Merger consideration includes 50,000,000 PubCo shares; each Pacifico unit detaches and each unredeemed share of Pacifico common stock is cancelled for one PubCo ordinary share. Why it matters: The 50,000,000 PubCo shares issued as consideration dwarf what a $58.2 million trust can buy, so Pacifico's public holders will be a small minority of the combined company regardless of redemptions. At $10.14 the market price sits four cents above the $10.10 redemption value, so selling marginally beats redeeming, which is unusual and suggests some holders are pricing in deal upside. Redemption remains available whether a holder votes for the merger or not, so the cash floor is preserved for anyone who prefers it.
- What changed vs 2022-05-16trust $58.1M → $58.2M +0%
trust account, going-concern doubt, redeemable shares1 moved · 2 with no prior record of ours
- Trust account
- $58.1M$58.2M
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 5.75M · unchanged
SpacBrain reads this as $69,833 was added to the trust between the two filings.
The clause …“Cash $ 41,949 $ 217,818 Prepaid expense 52,390 181,160 Marketable securities held in trust account 58,151,659 58,076,305 Total Current Assets 58,245,998 58,475,283 Total Assets $ 58,245,998 $ 58,475,283 LIABILITIES, REDEEMABLE COMMON”…
The clause “14-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern”, management has determined that if the Company is unable to complete a Business Combination within 12 months from the closing of the IPO, then”…
The clause …“As of June 30, 2022, there were 1,745,000 shares of common stock (excluding 5,750,000 shares subject to possible redemption). Rights — Except in cases where the Company is not the surviving company in a Business Combination, each”…
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 2021-11-16trust $58.1M → $58.1M +0%going concern APPEARED
trust account, going-concern doubt, redeemable shares2 moved · 1 with no prior record of ours
- Trust account
- $58.1M$58.1M
- Going-concern doubt
- not statedstated
- Redeemable shares
- 5.75M · unchanged
SpacBrain reads this as $6,740 was added to the trust between the two filings.
The clause …“Cash $ 72,436 $ 217,818 Prepaid expense 116,776 181,160 Marketable securities held in trust account 58,081,826 58,076,305 Total Current Assets 58,271,038 58,475,283 Total Assets $ 58,271,038 $ 58,475,283 LIABILITIES, REDEEMABLE COMMON”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause “14-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern”, management has determined that if the Company is unable to complete a Business Combination within 12 months from the closing of the IPO, then”…
The clause …“At December 31, 2021, there were 1,745,000 shares of common stock (excluding 5,750,000 shares subject to possible redemption). Rights — Except in cases where the Company is not the surviving company in a Business Combination, each”…
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.
Deal completion: 2/2 resolved vehicles closed a deal (100%); 0 liquidated, 0 terminated. No measured post-close outcome yet, so completion credit is NOT gated — missing data is never a penalty. Small sample — the shrink below keeps this near neutral.
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
from 424B4 0001213900-21-048025
Trading & liquidity
Company profile
Directors & officers
- Wang Cong EdwardChief Executive Officer
- Gibbs Raymond JohnDirector
- Zhong Yi AlanChief Financial Officer
- Yue Tang LauraDirector
- Shao Shiyun StephanieDirector
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.
- Pacifico Capital LLCwith 1 other reporting person on the same schedule22.2% · SC 13G/AApr 15, 2022 stale
- Polar Asset Management Partners Inc.5.8% · SC 13GFeb 10, 2022 stale
- MMCAP International Inc. SPCwith 1 other reporting person on the same schedule5.8% · SC 13G/AFeb 7, 2022 stale
- BOOTHBAY FUND MANAGEMENT, LLCwith 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 14, 2023 stale
- ATW SPAC MANAGEMENT LLCwith 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 14, 2023 stale
- Karpus Management, Inc.0.0% · SC 13G/AFeb 14, 2023 stale
- Space Summit Capital LLCnot stated · SC 13G/AFeb 2, 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
38 full SEC filing texts archived — searchable, never lost.
- Vault note — PAFO (Pacifico Acquisition Corp.)
vault-note · /vault/tickers/PAFO
- Vault deal note — Caravelle Group Co., Ltd. (PAFO)
vault-note · /vault/deals/caravelle-group-co-ltd
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 trail5 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 0001213900-21-048025 priced 2021-09-14; common ticker PAFO off 8-K 0001213900-22-078205 (2022-12-07); lifecycle EXITED. Ending PROVEN, not inferred: CLOSED per Form 25 0001354457-22-000736 (2022-12-16) — 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: Common Stock, Right, and 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 "Pacifico Capital LLC" sourced from prospectus definition (10-K) acc 0001213900-22-016946.
AI-extracted target (z-ai/glm-5.2, conf 0.95)
target recovered for a completed de-SPAC
entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read