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Tavia

TAVI · Nasdaq · Energy

No date aheadVita Inclinata Technologies, Inc. · Deal announced

NO ACTION REQUIRED

There is no dated way to act

The last election on file was 2 June and nothing dated has been filed since, so we cannot show you a day to act by. That is an absence in our record, not a right that is gone.

Nextthe shareholder vote — awaiting filing

Outer bound: the outside date, 5 March 2027 — a long-stop nobody can claim cash on.

$10.70 cash floor$10.73
11 May83 closes · floor filed 30 Jun9 SeptThe shaded band is the distance between the price and the cash floor — what a redemption would pay you, or cost you, on the day.

SpacBrain’s read

Floor not confirmed

The last redemption window closed with the 2 June election — it was held, and no new one has been filed since, so we cannot show you a date to act by.

What we do have: the company's own deadline runs to 5 March 2027. That deadline is not itself a window you can redeem into. The full chain of evidence is under Evidence.

Change on the last daily close+0.1% day

That is $0.03 above the $10.70 of cash held per share as last filed. Everything above the cash is what the market thinks the deal is worth, and redemption does not protect it. Against our ESTIMATE of what the trust holds today — ~$10.78, the filed figure carried forward at the T-bill — the same price is 0.5% below the cash. That estimate is our arithmetic, not a filing.


In plain terms

What it is
A $115M SPAC from Tavia (Mametov Askar), listed on Nasdaq in December 2024. Each unit put $10.00 into the shareholders' cash account at listing; it holds $10.70 a share today — interest earned on the account, plus any payments the sponsor made to extend the deadline, spread over the shares that never cashed out.
What it's doing now
It agreed in July 2026 to merge with Vita Inclinata Technologies, Inc., an Industrials company. No date has been filed for the shareholder vote.
What you should know
About 62% of the shares sold at listing have already been cashed in, leaving 4.3M and $46.4M of cash. We have no filed date on which you could claim the cash back, so we cannot tell you a day to act by. That is a gap in the public record, not a statement that the right has gone.

At a glance

Where it stands
Deal announced · next: the shareholder vote, awaiting filing
A deal has been announced. Before anyone can redeem, a merger proxy has to be filed — an S-4 or F-4 registration statement, or a preliminary proxy — the SEC has to clear it, and a meeting date has to be set. That meeting is where you redeem. No such date is on file with us, so there is none to show.
Merging with
Vita Inclinata Technologies develops products and solutions designed to improve safety, precision, and operational performance in demanding environments
Industry
Industrials
What it set out to buy: Energy
Deal value
not stated in the filings we hold
announced 13 July 2026
Price vs cash floor
$10.73 vs $10.70
$0.03 above the last filed cash held for you; 0.5% below cash against our estimated ~$10.78
Cash left in trust
$46.4M
across 4,332,775 public shares
IPO
4 December 2024
$115M raised · 100.0% of each $10 unit into trust
Headquarters
850 LIBRARY AVENUE, NEWARK, DE, 19711
registered in the Cayman Islands
Lead underwriter
EarlyBirdCapital, Inc.
Key officers
MAYS DARRELL J. (Director) · Kutkevitch Marsha (Director) · Mametov Askar (Chief Financial Officer)
Listed securities
TAVI common · TAVIR right $0.11 · TAVIU unit $10.85
Cash held per share$10.70

As last filed, 30 June 2026.

source: XBRL companyfacts

Cash per share today (estimate)~$10.78

Modelled, not filed: $10.70 filed 30 June 2026, compounded 72 days at the 3.95% 3-month T-bill (treasury.gov daily par yield curve). No tax drag, extension deposits or dissolution costs are modelled.

Price against the cash
vs last filed NAV
0.3%above cash
$10.70, as of Jun 30, 2026
vs estimated NAV today (our estimate)
0.5%below cash
~$10.78, accrued 72 days at 3.95%

The two rows disagree about which side of the cash this price sits on. Both are arithmetically right — they divide by different cash figures. The filed one is what a document says the trust held on its date; the estimated one carries that same figure forward at the T-bill for the days since, which is our arithmetic and not a filing.

Shares already handed back62.32%

At the 2 June 2026 event.

0001213900-26-065833opens on sec.gov in a new tab

What happens nextawaiting filing

A deal has been announced. Before anyone can redeem, a merger proxy has to be filed — an S-4 or F-4 registration statement, or a preliminary proxy — the SEC has to clear it, and a meeting date has to be set. That meeting is where you redeem. No such date is on file with us, so there is none to show. The outside date we hold is 5 March 2027 — a contractual long-stop, not a date you can claim cash on. What an outside date is →

Yield to redemption

No dated redemption window on file — no yield to compute.

We hold no redemption election for this SPAC. The only dated event on file is the outside date on Mar 5, 2027, which pays a holder nothing — so no yield can be measured to it. An unsourced date would make the yield look filed when it is not.


What is protecting this price

The reasoning behind the verdict above, in the order the filings establish it.

  1. The last redemption election on file — extension vote on 2 June — has passed, and no new one has been filed since. Holders who stayed through it keep the right to redeem at the next election; there simply is no next election on file, so this page cannot tell you a day to act by.
  2. Cash held in trust is $10.70 per share as last filed. That is the figure a redemption pays out at, plus whatever interest the trust earns between the filing and the window.
  3. The charter runs to 5 March 2027. If no deal closes by then the trust is returned to holders, which is a floor of a different kind — it pays out, but you do not choose when.

What has happened, and what is coming

7 dated milestones

Every 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.

  1. 2 June 2026Shares handed backpassed0001213900-26-065833opens on sec.gov in a new tab

    62.3% of the public float took the cash

  2. 13 July 2026Deal announcedpassed

    Combination with Vita Inclinata Technologies, Inc.

Show the earlier 3 milestones
  1. 4 December 2024IPOpassed

    $115M raised into trust

  2. 29 May 2026Redemption deadlinepassed0001213900-26-055170opens on sec.gov in a new tab

The deal

terms as filed

What it is buying, on what terms, and how much of the combined company new shares take from you.

  • Vita Inclinata Technologies, Inc. · announced 13 July 2026
    loiInclinata/aviation safety technologySEC primary

    Non-binding letter of intent only — NOT a definitive agreement. Target named but no signed BCA. Verified vs EDGAR.


Who has already taken their money back

1 filed event

Each 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

62.32%

of the public float walked at a single vote

Shares redeemed, all events

7.17M

≈62% of the earliest known float

Every figure below is stated in the linked filing; nothing here is estimated.


The score

deterministic, from filed fields

One number for the shape of the bet: how much upside you are getting per unit of downside. It is arithmetic over filed fields, not a rating and not advice — and it is the same number this SPAC carries on the leaderboard, the screener and the deal list, because all four read one engine.

Asymmetric return scoreThe tick is 57, the median of the 292 names scored.

0.3% premium to the last filed trust — capital at risk

The blend is trust discount (40 points), deal stage (30), sponsor track record (18) and time to catalyst (12). Every input is a real sourced field; where one is missing, confidence drops rather than a number being invented.

See where TAVI ranks, and how the score is built


The company

from SEC filings
Read the full profile

Tavia Acquisition Corp. is a $115 million Nasdaq SPAC whose investment thesis prioritises energy transition, the circular economy, and agricultural and food technologies. While the company may pursue targets in any industry or geography, its investment thesis prioritizes businesses primarily in North America and Europe focused on energy transition, the circular economy, and innovative agricultural and food technologies. The company's common shares trade on Nasdaq under the ticker TAVI, with units listed as TAVIU and rights as TAVIR.

Tavia Acquisition Corp. completed its initial public offering on December 4, 2024, raising $115 million. Each unit was offered at $10.00 and consisted of one ordinary share and one right entitling the holder to receive one-tenth of one ordinary share upon completion of an initial business combination. The trust account held approximately $10.59 per public share. The offering was underwritten by EarlyBirdCapital, Inc. on a firm commitment basis, with the sponsor, Tavia Sponsor Pte. Ltd. (a Singapore-incorporated entity), and EBC purchasing an aggregate of 350,000 private units at $10.00 per unit in a concurrent private placement. The company's management team is led by Chairman and CEO Kanat Mynzhanov and CFO and director Askar Mametov, who together founded the sponsor and previously led Oxus Acquisition Corp., a SPAC that completed a $172 million IPO in September 2021 and merged with Borealis Foods Inc. in February 2024. Independent director nominee Christophe Charlier, former chairman of Renaissance Capital, also brings extensive international investment banking and private equity experience.

In June 2026 shareholders were asked to extend the business-combination deadline from June 2026 to as late as March 2027, and the trust value has grown to about $10.70 per remaining share.

On 13 July 2026 Tavia disclosed a letter of intent with Vita Inclinata Technologies, Inc. — a letter of intent only: no definitive merger agreement has been signed or filed.


Material findings

from the full read of every filing

Every 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.

  • This filing provides critical updates on the SPAC's timeline (extended to March 2027), the trust account balance after a large redemption, and the first concrete sign of a deal target (Vita Inclinata). The sponsor's financing commitments and the company's cash position are key for investors assessing redemption risk and the likelihood of a successful combination.

  • Caleb Carr, Chief Executive Officer of Vita, attributed a pre-money enterprise value of $450 million to Vita, expressly conditional on Vita successfully completing a pending strategic acquisition within the defense and industrials market. Carr stated Vita’s strategy focuses on engineering expertise and operational excellence to deliver solutions that improve safety, precision, and operational performance in demanding environments. The filing triggers the upcoming obligation to file a Form S-4 registration statement and proxy statement/prospectus, which will contain the definitive valuation, sponsor lock-up details, and formal redemption mechanics for shareholders. Institutional and strategic investor indications are expected concurrent with the definitive agreement.

  • Deal progress advances to a signed LOI stage with an identified target and preliminary valuation benchmark. Per the attached press release, Tavia Acquisition Corp. and Vita Inclinata Technologies, Inc. (“Vita”) entered into a non-binding letter of intent that values Vita at a pre-money enterprise value of $450 million, a figure explicitly conditioned on Vita successfully completing its own pending strategic acquisition in the defense and industrials market. The parties established a 45-day exclusivity period for due diligence and definitive agreement negotiations, with Tavia Chairman and Chief Executive Officer Kanat Mynzhanov stating a definitive agreement is expected within the next thirty days and closing anticipated in the fourth quarter of 2026. Vita Chief Executive Officer Caleb Carr stated the public listing would strengthen Vita’s ability to “invest in innovation,” “expand our portfolio of products and solutions,” and “pursue new opportunities.” Advisor disclosures name Cohen & Company Capital Markets as lead financial and capital markets advisor to Tavia, EarlyBirdCapital as capital markets advisor, Greenberg Traurig LLP as legal counsel to Vita, and Reed Smith LLP as legal counsel to Tavia. All assertions regarding Vita’s engineering capabilities, customer focus, pending transactions, projected timelines, and market positioning are sourced exclusively from the joint press release and respective corporate officers, as repeatedly flagged in the document’s forward-looking statements section. The filing emphasizes that terms may differ materially, closing is subject to customary conditions (board approval, shareholder votes, regulatory clearance, definitive agreement execution), and no assurances are given that the transaction will close. Investors are directed to the forthcoming proxy statement/prospectus for binding redemption mechanics, trust distribution details, and actual deal terms.

  • This filing materially resets the redemption and extension timeline to March 5, 2027, while executing a large-scale cash drain from the Trust Account that alters the per-share economic profile for remaining holders. The disclosed redemption of 7,167,225 shares at $10.66 reduces public float but preserves a higher residual trust value per remaining share, which typically strengthens the floor for future negotiations or extends the runway before trust depletion becomes critical. The sponsor’s $540,000 zero-interest, non-recourse note provides verified working capital continuity without triggering equity dilution or warrant conversions, demonstrating sponsor alignment with the extension thesis. The unilateral reduction of the liquidation expense cap to US$50,000 slightly mitigates potential trust erosion in a default scenario. Leadership continuity is confirmed, as Chairman and Chief Executive Officer Kanat Mynzhanov countersigned both the current report and the financing instrument, while Director Thomas Haeusler formally accepted the obligations on the sponsor’s side.

  • The company is approaching its June 5, 2026 deadline without a completed deal and now faces a mandatory liquidation unless shareholders approve the proposed nine-month extension. The trust per-share value ($10.59) is above the IPO trust amount, preserving a modest positive spread for public shareholders if they redeem. The new $0.3m EBC note and the deepening working capital deficit signal additional cash burn without any offsetting revenue. The filing of an extension proxy is the most concrete step toward avoiding liquidation, but the outcome is uncertain.

  • This filing sets the terms and timeline for a critical extension vote. If the extension is not approved, the SPAC will liquidate by June 5, 2026, and public shareholders will receive their pro rata trust share (~$10.59). If approved, the SPAC gains up to nine more months to complete a deal, but the trust may be reduced by redemptions, and the sponsor's ability to fund monthly contributions is unverified. The board's recommendation and insider voting intentions are disclosed, as are potential conflicts of interest. The trust value per share of $10.59 is slightly below the $10.60 market price on May 11, 2026, meaning redemption yields a small discount. This is a material event for SPAC investors evaluating whether to redeem or hold.

Show 24 more material filings
  • This extension vote triggers a redemption right for public shareholders at ~$10.50 per share. If approved, the SPAC gains an additional nine months to complete a deal; if not, it will liquidate. The filing also details sponsor and insider waivers, potential share purchases to reduce redemptions, and conflicts of interest. The outcome affects trust account size, dilution, and the likelihood of a business combination.

  • The trust account has grown with interest, but the company has a working capital deficit and the deadline to complete a business combination is June 5, 2026. The going-concern qualification and lack of a target underscore liquidation risk. The $300,000 promissory note from EarlyBirdCapital provides some working capital but does not extend the deadline. Investors should monitor whether a deal is announced before the deadline or whether the company will redeem shares and liquidate.

  • The explicit trust account waiver protects the redemption mechanics for public holders, ensuring this new debt does not erode the $10.7 per-share trust value allocated to redeeming shareholders. By securing $300,000 in additional working capital from the IPO underwriter representative, the Company extends its operational runway to fund deal-search activities without issuing new equity or diluting existing ownership. Signed by Chairman and Chief Executive Officer Kanat Mynzhanov, the agreement signals sponsor-backed financial continuity. The filing also confirms standard continued registration for Units (TAVIU), Ordinary Shares (TAVI), and Rights (TAVIR) on the Nasdaq Stock Market LLC, with no alterations to the entity's Delaware incorporation or emerging growth company status.

  • The rising trust per share provides a higher redemption floor for investors. The sponsor's note extension signals continued support, but the deteriorating cash position and working capital deficit raise going-concern risk if a deal is not completed by the deadline. The deadline is approximately seven months away, and the company has not identified a target, increasing the likelihood of liquidation if no deal is reached. The going-concern disclosure is a material red flag.

  • Trust per share accretion to $10.29 provides a higher floor for redemptions, but the company's cash burn and working capital deficit raise liquidity risk. The correct deadline is June 5, 2026, which is earlier than the user's assumed date, accelerating the timeline for a deal. No definitive agreement or target is disclosed, and the going concern warning signals that failure to consummate a business combination by mid-2026 would lead to liquidation.

  • The trust continues to grow, but the rapid cash burn outside trust and the going-concern warning highlight the pressure to find a target. Management has until mid-2026; if no deal closes, shareholders will receive the trust per-share value. With no operating revenues and depleting working capital, a business combination is the only path to value. The filing contains no redemptions or extension votes, but the deteriorating cash position is a flag for deadline watchers.

  • For a SPAC past the business combination announcement, institutional amendments directly affect redemption liquidity and voting thresholds ahead of the stated 2027-03-05 deadline. Entities crossing the 5 percent reporting floor routinely update when they shift aggregate positions, which alters the remaining share pool available for cash redemption or conversion at deal close. The co-listing of a conventional management company alongside an arbitrage affiliate typically signals active portfolio management or hedging behavior around the merger timeline. Reviewing the complete filing will determine whether the institution is accumulating shares to support the combined company’s trading stability or strategically reducing exposure before shareholder votes or settlement occurs.

  • While mechanically silent on redemption calendars and deal milestones, the aggregation of positions under the Wolverine entities signals coordinated institutional tracking ahead of the merger process. Because the filing attributes no statements to management or advisors, it contains no claims about customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel. Investors should obtain the complete filing at SEC record 0001140361-25-016883 to confirm whether the aggregated holdings cross the five percent reporting threshold, to identify the purpose of the acquisition, and to assess how blockholder voting intent may intersect with upcoming shareholder approvals or redemption periods.

  • This is a blank-check company early in its lifecycle; it disclosed a going concern doubt from its auditor (the audit report includes an explanatory paragraph about substantial doubt). Trust value per share is $10.05 at IPO but $10.06 per share at year-end including interest. The deadline is fixed; the sponsor's prior SPAC (Oxus) completed a de-SPAC with Borealis Foods. Sponsor is Singapore-based; its CEO/chairman is a UK citizen, which may trigger CFIUS risk for U.S. targets. The document confirms no deal discussions, no selection of any target, and no engagement of any intermediary.

  • The filing discloses that Marcum’s audit reports included an explanatory paragraph relating to 'substantial doubt about the Company’s ability to continue as a going concern,' a material accounting signal for an uncompleted SPAC operating under a defined timeline. The document provides no details on trust account balances, redemption rights, extension proposals, or target acquisition progress. Absent a disclosed merger agreement, the going concern caveat and auditor switch stand as the primary indicators of the sponsor's operational conduct and financial trajectory leading up to the stated March 2027 deadline.

  • The explicit $10.05 per share initial trust valuation dictates redemption floors and deal-size thresholds distinct from standard SPAC conventions. The hard 18-month window from December 5, 2024, creates a definitive timeline for shareholder exit options and forces capital efficiency before liquidation mechanics activate. Sponsor-funded working capital bridges the documented liquidity gap without encumbering the trust principal, preserving the $100,500,000 reserve until a target is secured. EarlyBirdCapital, Inc.’s (EBC) advisory compensation structure locks in a 3.5% cash fee on gross IPO proceeds upon business combination completion and an additional 1.0% fee on total consideration if EBC originates the target, directly shaping future deal economics. Management directed strategic attention toward North American and European entities in energy transition, the circular economy, and food technologies, while acknowledging geopolitical volatility from the Russia-Ukraine and Israel-Hamas conflicts as potential market disruptors. Executive authority is validated by Chief Executive Officer Kanat Mynzhanov’s execution of the report, and the capitalization table reflects 3,833,333 founder shares, 200,000 EBC founder shares, and 350,000 private placement shares outstanding post-offering.

  • The full over-allotment exercise and concurrent private placement increase the total capital base, expanding the cash pool available for potential business combination execution and post-combination operating runway. The press release attributes Tavia Acquisition Corp.’s strategic focus to sectors advancing sustainability and innovation, specifically identifying energy transition and critical materials, circular economy initiatives, and innovative agricultural and food technologies. Management states it intends to primarily direct attention to target businesses in North America and Europe focused on those sectors to address environmental challenges, demographic shifts, and the transition towards sustainable practices. The Company identifies Chief Executive Officer Kanat Mynzhanov, Chief Financial Officer Askar Mametov, and independent directors Christophe Charlier, Darrell Mays, and Marsha Kutkevich. EarlyBirdCapital, Inc. served as the sole book-running manager. A registration statement was declared effective by the SEC on December 2, 2024, and ordinary shares and rights are expected to begin separate trading on the Nasdaq Global Market under symbols “TAVI” and “TAVIR”.

  • The reporting persons certify in Item 10 that the securities were not acquired 'for the purpose of or with the effect of changing or influencing the control of the issuer,' which the filing attributes to passive positioning or co-investment intent rather than activist or governance intervention. Because the disclosure caps collective influence at shared power and excludes sole voting or dispositional rights, the filing indicates low probability of immediate board replacements, redemption-triggered liquidation pressures, or forced deadline extensions driven by blockholder action. The document also supplies organizational routing—linking Harraden Circle Investors, LP and Harraden Circle Special Opportunities, LP through Harraden Circle Investors GP, LP, Harraden Circle Investors GP, LLC, and the Harraden Adviser to Mr. Fortmiller’s managing membership—and lists physical offices at 299 Park Avenue, 21st Floor, New York, NY 10171 for the reporters and 4 Southbury, 144 Loudoun Road, London, NW8 0RY, United Kingdom for the issuer. Beyond entity mapping and control attribution, the filing makes no claims about customers, revenue, market size, strategy, technology, partnerships, litigation, or target-specific personnel.

  • This filing sets the initial trust value at $100,500,000 ($10.05 per public share) and triggers the 18-month deadline to complete a business combination (approximately June 5, 2026, absent extensions). It also establishes the governance structure, insider lock-up and voting commitments, and the underwriter's marketing agreement, which are all key mechanics for tracking sponsor conduct and deal progress.

  • This is the IPO that creates the SPAC. The trust value per share is $10.05, not $10.00. The deadline is 18 months from closing (not a later extended date). The sponsor's founder shares and private shares are locked until six months post-business combination. EBC, the underwriter, is both buying 125,000 private units and is entitled to a 3.5% Business Combination Marketing Agreement fee. The auditor's report contains a going concern qualification.

  • Upon SEC declaration, the accelerated date permits Earlybird Capital, Inc. and its participating underwriters to immediately distribute preliminary prospectuses and initiate the capital deployment or business combination sequence. The correspondence identifies outside counsel Greenberg Traurig, LLP, as involved in the request process and contains explicit assertions that the undersigned has complied and will continue to comply with Rule 15c2-8, confirming the underwriting syndicate’s adherence to quotation and transaction reporting obligations ahead of execution.

  • Accelerating the registration statement’s effectiveness typically moves the closing timeline forward, which can compress the pre-closing window available for shareholder redemptions and limit potential trust account withdrawals prior to merger completion. It demonstrates executive management is executing standard post-announcement procedures ahead of the established operational horizon, with the Company asserting straightforward compliance and procedural efficiency rather than introducing new financial metrics, contractual amendments, or governance shifts.

  • The filing updates the SPAC's registration statement to reflect its financial position through September 30, 2024, including a working capital deficit of $682,973 and a going concern qualification from its auditor, Marcum LLP. The sponsor and independent director nominees forfeited 1,197,917 founder shares in October 2024, reducing insider ownership. The trust value per share is confirmed as $10.05. The 18-month deadline from the IPO closing (estimated March 2025) is reiterated. No target business has been selected, and no substantive discussions have occurred.

  • This document sets the key structural terms for the SPAC's IPO: the trust value per share ($10.05), the deadline for a business combination (24 months from IPO closing), the warrant exercise price ($11.50), and the sponsor's commitments (including founder shares and private warrants). It provides investors with the legal framework for redemption rights, liquidation, and the business combination process. The filing is material because it is the registration statement for the IPO, which will determine the capital available for a future acquisition.

  • By stripping out the conditional convertible preferred equity track, the Company eliminates the Staff’s identified risk that undisclosed mid-stream amendments to preferred share terms could shift redemption economics, dilution profiles, or conversion ratios closer to the merger date. As stated by the Company, simplifying to a fixed unit composition satisfies Securities Act Sections C&DI Question 103.04 guidance on one-year automatic conversions, brings alignment with Nasdaq Global Market listing requirements for convertible securities prior to issuance, and delivers all material terms upfront so investors can price redemption expectations without relying on post-registration modifications. This structural tightening curtails sponsorship flexibility to reprice deals solely to manage the redemption count, thereby stabilizing trust deployment mechanics and extension runway predictability. The submission contains no operative claims regarding customer concentrations, revenue projections, total addressable markets, technology roadmaps, partnership agreements, or active litigation beyond registration compliance adjustments. All cited figures, dates, and page references appear exactly as documented in the filing.

  • The SEC’s focus on automatic conversion mechanics and pre-issuance structural amendments tied to lowering redemption expectations places direct regulatory scrutiny on Tavia’s anticipated anti-redemption mechanisms and capitalization adjustments ahead of the business combination. Until Tavia amends the registration statement per the October 9, 2024 comments and files substantive responses, the closing timeline faces potential delay. The review signals that sponsor strategies to alter convertible preferred terms to manage redemption payouts or facilitate transaction completion will require granular, upfront disclosure. Questions regarding financial statements and related matters are channeled through Jeffrey Lewis or Isaac Esquivel, while general inquiries are directed to Benjamin Holt or Pam Howell in the Office of Real Estate & Construction.

  • This filing is the registration statement for the SPAC's IPO. Key mechanical terms: the trust will hold $10.00 per public share ($175M or $201.25M if over-allotment exercised); the deadline to complete a business combination is 24 months from the IPO closing; there is no extension provision; the sponsor (Tavia Sponsor Pte. Ltd.) purchased founder shares at $0.005 per share and has agreed to vote for a deal and waive redemption. The company has not selected a target. Investors should note the dilutive structure (each unit is half a share) and the significant dilution (98.30%) to public shareholders relative to founder shares. The document also reveals a going-concern uncertainty prior to the IPO and details indemnification obligations of the sponsor.

  • Deferring the registration of convertible preferred securities pushes detailed conversion ratios and dividend structures to the definitive merger proxy, meaning investors monitoring precise redemption triggers, trust account sufficiency calculations, and potential structural amendments to secure the deal must await the next filing. The voting covenant modification alters the behavioral guardrails for insiders post-announcement, which can shift bargaining leverage during negotiation windows and influence whether remaining public shareholders exercise redemption rights or participate in the combined entity. Isolating the $30,000 monthly cost strictly to administrative support ensures accurate accounting of ongoing burn rates that would otherwise draw down trust value, particularly relevant given the extended March 5, 2027 deadline. Confirmation of Nasdaq listing qualification safeguards secondary market liquidity, preserving exit avenues for holders weighing tender offers against holding. Finally, financials updated through June 30, 2024 provide the most current baseline for evaluating working capital adequacy and sponsor funding commitments ahead of the merger closing.

  • The SEC’s focus on modifying convertible preferred share terms to potentially lower redemption counts directly impacts how trust proceeds are allocated versus converted, introducing structural dilution and complicating the redemption math for public shareholders holding shares backed by the $10.70 trust. Nasdaq listing pathway ambiguity and unresolved security terms create execution risk that could delay closing relative to the 2027-03-05 deadline or force an extension request. The voting commitment discrepancy signals active negotiation or enforcement friction between sponsor/director alignment and public shareholder consent, affecting whether the merger clears approval thresholds. Disclosure gaps on director-held founder shares and monthly administrative expenses require proxy-level transparency to assess potential compensation structures, related-party arrangements, or conflicts of interest. Until the staff’s requests for updated financials, revised legal opinions, and clarified risk factors are satisfied, the registration statement cannot become effective, extending the regulatory review window and increasing the cost and complexity of pursuing the transaction before the redemption horizon expires.

Showing the 30 most recent of 40 filings flagged material — the full feed is in Filings below.


Filings

live EDGAR feed

Everything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.

  • What changed: Routine compliance exhibit: a Joint Filing Statement pursuant to Rule 13d-1(k)(1) attached to a Schedule 13G/A beneficial ownership report. This filing does not modify redemption deadlines, trust account valuations, extension triggers, deal advancement, or sponsor conduct. It solely documents that Tenor Capital Management Company, L.P., Tenor Opportunity Master Fund, Ltd., and Robin Shah consented to jointly file this Schedule 13G/A under Securities Exchange Act rules, with Robin Shah attesting as Managing Member of Tenor Management GP, LLC, Authorized Signatory for the master fund, and individually. No figures regarding holdings, percentages, acquisition targets, or trust balances are contained in this text. Why it matters: The document confirms the joint filing framework for the reporting entities and maintains uninterrupted SEC disclosure obligations without altering shareholder redemption windows, merger vote scheduling, or extension vote procedures. Because it contains no business operations data, customer claims, revenue metrics, market size estimates, strategic initiatives, technology disclosures, partnership announcements, litigation allegations, or personnel changes beyond the signatories, it offers no direct signal on deal completion probability, sponsorship behavior, or net asset value pressure. Investors tracking Tavia Acquisition Corp. should cross-reference the main Schedule 13G/A cover pages to determine whether the filers crossed beneficial ownership reporting thresholds, adjusted passive versus active classification, or signaled conviction ahead of the March 2027 expiration.

  • What changed: Schedule 13G/A amendment and its attached Exhibit A, a Joint Filing Agreement executed under Rule 13d-1(k) for the Ordinary Shares of Tavia Acquisition Corp., submitted by Westchester Capital Management, LLC; Virtus Investment Advisers, LLC; and The Merger Fund. According to the Joint Filing Agreement dated August 14, 2026, signed by Chief Compliance Officer CaSaundra Wu, Chief Compliance Officer James Sena, and Vice President, Counsel and Assistant Secretary Daphne Chisolm, the three investment entities formally agreed to file a single beneficial ownership statement on behalf of each other. The provided excerpt contains no amended percentage ownership, share quantities, acquisition prices, or statements regarding changes in investment purpose. Consequently, the filing discloses no adjustments to redemption mechanics, trust account valuation, extension requests, merger completion status, or sponsor governance. It also contains no operational, financial, or strategic assertions regarding customers, revenue, market size, technology, partnerships, litigation, or executive appointments. Why it matters: The document functions exclusively as a procedural compliance attachment required by the Securities and Exchange Commission for joint reporting among affiliated or cooperating institutional holders. Because the text omits the core Schedule 13G/A body—which would typically disclose aggregate stake sizes, trigger thresholds, and transaction timelines—it provides no quantitative basis to assess anchor investor support, potential redemption waves, or deadline pressure relative to the SPAC’s contractual termination window. The filing confirms routine regulatory adherence by the referenced investment vehicles and their authorized counsel through August 14, 2026, but offers no actionable intelligence on deal financing, shareholder voting dynamics, or business combination execution.

  • What changed: Amended beneficial ownership report (Schedule 13G/A). Polar Asset Management Partners Inc. filed an amendment to its Schedule 13G to report beneficial ownership of TAVI shares. The excerpt does not disclose the updated share count, percentage ownership, acquisition timeline, or the specific triggering event for the amendment. Why it matters: For a SPAC in DEAL_ANNOUNCED status, shifts in institutional beneficial ownership can alter public float dynamics, change voting leverage for a proposed business combination or extension vote, and signal retail/institutional positioning ahead of potential redemptions. Because Polar Asset Management Partners Inc. did not provide numerical share quantities, ownership percentages, or amendment context in this filing excerpt, the concrete impact on redemption mechanics, trust fund preservation, extension decision-making, or sponsor conduct cannot be assessed. The document contains no statements, metrics, or disclosures regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel.

  • What changed: A Limited Power of Attorney pursuant to the Securities Exchange Act of 1934, submitted as Exhibit A to a Schedule 13G filing, executed by Mizuho Financial Group, Inc. and its subsidiaries. This document asserts zero changes to Tavia’s redemption deadlines, trust value, extension provisions, merger progress, or sponsor conduct; according to Mizuho Financial Group, Inc., it solely establishes internal signing authority for Section 13(d) and 13(g) disclosures. Regarding other substance, the filing claims only administrative and classification details: Mizuho designates Takahiro Katsura as Managing Director, Head of Global Branches & Subsidiaries Coordination Office, Shuji Matsuura as Senior Managing Corporate Executive (and Managing Executive Officer, Head of Global Corporate & Investment Banking Division), and Adam Hopkins as Chief Legal Officer (and Managing Director, General Counsel). Mizuho further provides office addresses at 1-5-5, Otemachi, Chiyoda-ku, Tokyo 100-8176, Japan and 1271 Avenue of the Americas, NY, NY 10020, USA, classifies Mizuho Bank, Ltd. as a non-U.S. institution equivalent to Bank, Mizuho Americas LLC as a parent holding company, and Mizuho Securities USA LLC as a registered Broker-Dealer. The document makes no claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel shifts beyond these executive designations. Why it matters: Investors tracking Tavia should note that this routine compliance exhibit only facilitates timely SEC reporting for Mizuho’s equity position, leaving all merger timeline parameters, trust distribution mechanics, and shareholder redemption windows entirely unaffected.

  • What changed: routine compliance exhibit. The filing identifies Barclays PLC as the reporting entity amending its beneficial ownership statement. The provided excerpt discloses no percentage thresholds, share counts, acquisition dates, or transaction purposes typically required in Schedule 13G amendments, and it bears no information regarding TAVI’s redemption deadline, trust account valuation, extension mechanism, business combination progress, or sponsor conduct. Why it matters: As a standard regulatory filing tracking institutional holdings, this document contains no operational, financial, or strategic disclosures. It solely serves to update public records of Barclays PLC’s ownership position under Section 13(d) of the Securities Exchange Act.

Show the other 10 filings
  • What changed: 10-Q (Quarterly Report) for the quarterly period ended June 30, 2026, filed by Tavia Acquisition Corp. with the SEC on August 12, 2026. Shareholders approved an extension of the business combination deadline from June 5, 2026 to March 5, 2027. In connection with the extension, 7,167,225 public shares were redeemed at approximately $10.66 per share, reducing the trust account from $120.8 million to $46.4 million. The sponsor agreed to make monthly contributions of up to $60,000 (or $0.03 per share) to the trust account and issued a promissory note for up to $540,000 to fund those contributions. Post-period, on July 13, 2026, the company announced a non-binding letter of intent for a business combination with Vita Inclinata Technologies, Inc. Trust value per share as of June 30, 2026 is approximately $10.70. The company reported a working capital deficit of $2.6 million and management expressed substantial doubt about going concern. Why it matters: This filing provides critical updates on the SPAC's timeline (extended to March 2027), the trust account balance after a large redemption, and the first concrete sign of a deal target (Vita Inclinata). The sponsor's financing commitments and the company's cash position are key for investors assessing redemption risk and the likelihood of a successful combination.

    What changed vs 2026-05-12trust $121.8M → $46.4M -62%deadline 2026-06-05 → 2027-03-05shares 11.5M → 4.33M -62%
    trust account, combination deadline, redeemable shares +13 moved · 1 with no prior record of ours
    Trust account
    $121.8M$46.4M

    SpacBrain reads this as $75,446,605 left the trust between the two filings.

    The clause …“90,017 131,850 Total current assets 303,501 361,475 Marketable securities held in Trust Account 46,369,473 120,754,293 Total Assets $ 46,672,974 $ 121,115,768 Liabilities, Ordinary Shares Subject to Possible Redemption, and”…

    Combination deadline
    2026-06-052027-03-05

    SpacBrain reads this as 273 days later than the previous record.

    The clause …“business combination from June 5, 2026 (the Previous Termination Date ) to March 5, 2027, or such earlier date as determined by our board of directors (such applicable date, the Extended Date ), for a total extension of up to nine”…

    Redeemable shares
    11.5M4.33M

    SpacBrain reads this as 7,167,225 shares are no longer redeemable.

    The clause “00 Private Shares issued at the closing of the over-allotment option, excluding 4,332,775 and 11,500,000 shares subject to possible redemption as of June 30, 2026 and December 31, 2025, respectively. Holders of ordinary shares of record”…

    Going-concern doubt
    stated · unchanged

    The clause …“Board s ( FASB ) ASC Subtopic 205-40, Presentation of Financial Statements Going Concern, management has determined that the Company s liquidity condition and, due to the mandatory liquidation should a Business Combination not occur”…

    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: A Form 8-K filed under Rule 425 that publishes a joint press release announcing the execution of a non-binding letter of intent for a proposed de-SPAC business combination. No alterations to redemption mechanics, trust accounting, or shareholder exit timelines are disclosed. The SPAC’s trust remains at $10.70 per share, the mandatory liquidation deadline stays fixed at March 5, 2027, and neither an extension, amendment to redemption rights nor a sponsor deposit change is referenced in this filing. Why it matters: Deal progress advances to a signed LOI stage with an identified target and preliminary valuation benchmark. Per the attached press release, Tavia Acquisition Corp. and Vita Inclinata Technologies, Inc. (“Vita”) entered into a non-binding letter of intent that values Vita at a pre-money enterprise value of $450 million, a figure explicitly conditioned on Vita successfully completing its own pending strategic acquisition in the defense and industrials market. The parties established a 45-day exclusivity period for due diligence and definitive agreement negotiations, with Tavia Chairman and Chief Executive Officer Kanat Mynzhanov stating a definitive agreement is expected within the next thirty days and closing anticipated in the fourth quarter of 2026. Vita Chief Executive Officer Caleb Carr stated the public listing would strengthen Vita’s ability to “invest in innovation,” “expand our portfolio of products and solutions,” and “pursue new opportunities.” Advisor disclosures name Cohen & Company Capital Markets as lead financial and capital markets advisor to Tavia, EarlyBirdCapital as capital markets advisor, Greenberg Traurig LLP as legal counsel to Vita, and Reed Smith LLP as legal counsel to Tavia. All assertions regarding Vita’s engineering capabilities, customer focus, pending transactions, projected timelines, and market positioning are sourced exclusively from the joint press release and respective corporate officers, as repeatedly flagged in the document’s forward-looking statements section. The filing emphasizes that terms may differ materially, closing is subject to customary conditions (board approval, shareholder votes, regulatory clearance, definitive agreement execution), and no assurances are given that the transaction will close. Investors are directed to the forthcoming proxy statement/prospectus for binding redemption mechanics, trust distribution details, and actual deal terms.

  • What changed: Form 8-K current report (Regulation FD Disclosure) furnishing a press release announcing the execution of a non-binding Letter of Intent for a proposed de-SPAC business combination between Tavia Acquisition Corp. and Vita Inclinata Technologies, Inc. Establishes a 45-day exclusivity period for due diligence and definitive agreement negotiations. Projects execution of a definitive agreement within 30 days and closing in the fourth quarter of 2026. Leaves trust account structures, shareholder redemption windows, and extension provisions unmodified. Designates Cohen & Company Capital Markets as lead financial advisor, EarlyBirdCapital as capital markets advisor, Greenberg Traurig LLP as legal counsel to Vita, and Reed Smith LLP as legal counsel to Tavia. Why it matters: Caleb Carr, Chief Executive Officer of Vita, attributed a pre-money enterprise value of $450 million to Vita, expressly conditional on Vita successfully completing a pending strategic acquisition within the defense and industrials market. Carr stated Vita’s strategy focuses on engineering expertise and operational excellence to deliver solutions that improve safety, precision, and operational performance in demanding environments. The filing triggers the upcoming obligation to file a Form S-4 registration statement and proxy statement/prospectus, which will contain the definitive valuation, sponsor lock-up details, and formal redemption mechanics for shareholders. Institutional and strategic investor indications are expected concurrent with the definitive agreement.

  • What changed: Routine compliance exhibit: an Amended Schedule 13G beneficial ownership report filed by Karpus Management, Inc. The filing is an amendment to a prior 13G; however, the provided excerpt discloses no updated share counts, transaction dates, or revised percentage thresholds. Bearing on redemption deadlines, trust value, extensions, deal progress, and sponsor conduct, the document presents none. As stated by the filer, Karpus Management, Inc. remains the reporting holder, but no mechanical triggers, redemption instructions, or financing milestones are articulated. Why it matters: For investors monitoring capital calls and deal timing, this amendment solely updates the public ledger of a greater-than-5% equity position. The text contains no claims about customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel. Because it supplies no numerical disclosures beyond the holder’s identity, it does not independently shift expectations regarding the announced business combination, the trust reserve, or the March 5, 2027 deadline. Its substantive impact is limited to the filer’s regulatory attestation of ongoing beneficial ownership.

  • What changed: A Form 8-K Current Report (routine compliance exhibit and disclosure filing) documenting the results of an extraordinary general meeting, the execution of a sponsorship financing note, and corporate charter amendments. Per the 8-K filed by Tavia Acquisition Corp., shareholders voted on June 2, 2026, to amend the articles of association, extending the business combination termination date from June 5, 2026, to March 5, 2027. The final tally reported in the filing shows 10,670,952 votes for, 3,334,839 against, and 1,000 abstentions, based on 14,006,791 shares present (approximately 87.978% of the 15,920,833 shares outstanding on the May 4, 2026 record date). Following the extension approval, 7,167,225 ordinary shares were redeemed at approximately $10.66 per share for an aggregate amount of approximately $76.4 million. The filing states that approximately $46.2 million remains in the Trust Account after satisfying the redemptions, leaving 8,753,608 ordinary shares outstanding. Concurrently, the sponsor, Tavia Sponsor Pte. Ltd., executed an unsecured promissory note for up to $540,000 to facilitate monthly direct contributions of up to $60,000 to the Trust Account. The note, signed by Chief Executive Officer Kanat Mynzhanov on behalf of the issuer and Director Thomas Haeusler on behalf of the payee, bears no interest, matures on the earlier of a business combination or effective winding-up, is repayable solely from non-Trust assets if no combination occurs, and contains a full waiver of any sponsor claim against the Trust Account. The accompanying Exhibit 3.1 amends Article 50.7 to lower the maximum allowable withdrawal for liquidation and dissolution expenses from US$100,000 to US$50,000. Why it matters: This filing materially resets the redemption and extension timeline to March 5, 2027, while executing a large-scale cash drain from the Trust Account that alters the per-share economic profile for remaining holders. The disclosed redemption of 7,167,225 shares at $10.66 reduces public float but preserves a higher residual trust value per remaining share, which typically strengthens the floor for future negotiations or extends the runway before trust depletion becomes critical. The sponsor’s $540,000 zero-interest, non-recourse note provides verified working capital continuity without triggering equity dilution or warrant conversions, demonstrating sponsor alignment with the extension thesis. The unilateral reduction of the liquidation expense cap to US$50,000 slightly mitigates potential trust erosion in a default scenario. Leadership continuity is confirmed, as Chairman and Chief Executive Officer Kanat Mynzhanov countersigned both the current report and the financing instrument, while Director Thomas Haeusler formally accepted the obligations on the sponsor’s side.

  • What changed: A Schedule 13G/A, designated by the SEC as a beneficial ownership report, submitted by KARPUS MANAGEMENT, INC. The provided excerpt contains only a filing identifier and holder name. It discloses no amended share quantities, percentage thresholds, voting rights, acquisition dates, or transaction pricing. Accordingly, it reports zero changes to the announced merger structure, the $10.7 per-share trust allocation reference, the 2027-03-05 redemption/extension deadline, or sponsor conduct. Why it matters: Schedule 13G/A filings serve as routine compliance exhibits that amend prior >5% beneficial ownership disclosures. In this case, without the accompanying amendment text specifying revised purchase dates, purpose statements, or future disposal intentions, it does not signal new capital inflows, sponsor realignment, or pressure on conversion mechanics. The document contains no claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel. It remains a standard regulatory update with no immediate impact on tracked trust values, deadline mathematics, or deal execution timelines.(flagged for human review)

  • What changed: Routine compliance exhibit – Schedule 13G/A, an amended beneficial ownership report filed on 2026-06-03 for TAVI by Wealthspring Capital LLC and Matthew Simpson. The provided excerpt isolates only the reporting entities and SEC accession number [0001844495-26-000021]. It discloses no revised percentage ownership, acquisition dates, aggregate share quantities, or transaction purposes. Accordingly, it reports no adjustments to redemption windows, trust-per-share valuations, extension provisions, merger completion milestones, or sponsor fiduciary conduct within the visible text. Why it matters: Even when the operative financials are absent from a snippet, the submission of an amended 13G signals that at least one reporting party altered holdings, corrected prior disclosures, or triggered threshold reporting rules, directly informing how investors stress-test redemption modeling and proxy alignment before the 2027-03-05 deadline. Because this excerpt contains no customer metrics, revenue assertions, total addressable market estimates, technology roadmap disclosures, partnership announcements, litigation updates, or personnel transitions, no business or strategic claims can be attributed to any executive, director, or sponsor entity without pulling the full attached exhibit. Tracking whether Wealthspring Capital LLC and Matthew Simpson increased or decreased concentration remains critical for gauging institutional conviction in the announced merger timeline and for anticipating whether large shareholders are positioning to fund operations, vote on extensions, or prepare for cash-out redemptions.

  • What changed: Routine compliance exhibit: a Joint Filing Agreement (Exhibit A) submitted as part of a Schedule 13G beneficial ownership report for the Ordinary Shares of Tavia Acquisition Corp. Administrative disclosure only. Westchester Capital Management, LLC, Virtus Investment Advisers, LLC, and The Merger Fund executed an agreement on May 15, 2026, to jointly file a Schedule 13G under Rule 13d-1(k) of the Securities Exchange Act of 1934. The text contains zero provisions, updates, or data touching the trust account balance, shareholder redemption windows, extension resolutions, target negotiation status, or sponsor fiduciary conduct. Executed by CaSaundra Wu (Chief Compliance Officer), Chetram Persaud (Chief Compliance Officer), and Daphne Chisolm (Vice President, Counsel and Assistant Secretary), it introduces no commentary on customer contracts, revenue streams, market sizing, technological roadmaps, strategic alliances, pending lawsuits, or executive personnel movements. Why it matters: Validates that three institutional vehicles have consolidated their Section 13(d) reporting into a single filer package, clarifying the regulatory baseline for beneficial ownership aggregation. For investors tracking the SPAC’s capital preservation, tender mechanics, or business combination timeline, this exhibit carries no impact on redemption pricing, trust yield calculations, or the execution schedule. It is procedurally neutral but legally required to prevent fragmented disclosure, confirming these holders have coordinated their filings without altering the economic posture or deal trajectory of Tavia Acquisition Corp.

  • What changed: Schedule 13G/A amendment—a routine compliance exhibit filed under Section 13(d) of the Securities Exchange Act to report beneficial ownership of securities. Per the provided filing text, Polar Asset Management Partners Inc. is identified as the reporting holder. The document states only the form designation and entity name; it discloses no share counts, percentage thresholds, transaction dates, or corrections to prior holdings. It therefore contains no information on TAVI’s redemption deadline, trust value mechanics, extension proceedings, business combination progress, or sponsor conduct. Why it matters: This is a standard regulatory disclosure update rather than a substantive corporate action. As outlined in the filing header and holder line, it confirms ongoing institutional ownership tracking for Polar Asset Management Partners Inc., but supplies zero numerical data, operational claims, or procedural directives to evaluate shareholder liquidity options, trust preservation strategies, or target company fundamentals. Investors cannot derive redemption implications, valuation parameters, or management activity from this snippet alone.


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

Cash in trust at IPO$10.00

That was the figure at listing. It is $10.70 a share today — interest on the account, plus any sponsor payments made to extend the deadline, spread over the shares that never cashed out.

from 424B4 0001213900-24-105362

Unit quote (TAVIU)$10.85

as of 10 September 2026

Right quote (TAVIR)$0.11

as of 10 September 2026

Trading & liquidity

Average daily volume (20d)17K
Average daily $ volume$179K

Thin book — limit orders only; a position can be hard to exit outside a redemption window.

Range over the bars held$10.56 – $10.83
Total cash in trust$46.4M

Company profile

Industry (SIC)Blank Checks (6770)
Registered inthe Cayman Islands
Exchange · CIKNasdaq · 0002020385

All filings on EDGARopens on sec.gov in a new tab

LOI: Vita Inclinata $450M

Directors & officers


Institutional holders

from SC 13G/13D

Funds 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

13 filers with a stake on file · 10 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.

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 press

Reporting we have matched to this ticker. Headlines belong to the outlets that wrote them.


Sources on file

harvested pages, kept in full

Every public page we have read about this company, stored in full so a source can never go missing.


Listed peers

Market data 2026-08-19

Who this business is like, and what the market pays for them.

Market data as of 2026-08-19 (22 days old). A forward multiple is a market opinion on one day, not a filed figure.

Selected from a listed universe by sector and by business description — not from the SPAC's stated mandate.

Peer median forward EV/Sales (n=7)3.7×
25th–75th percentile · full range 2.0×13.1×3.1×4.5×

3.7x forward EV/Sales — median of n=7 of 9 selected peers (2 publish none), Market data as of 2026-08-19. 2 of the 9 counted comparables publish no forward EV/Sales and are excluded from the median rather than entered as zero (LASE, KITT). Adjacent comps are never counted.

Direct · 2 same vendor sector as the target, and the two business descriptions match strongly

  • LASE Laser Photonics Corp$65m · fwd EV/Sales · sim 0.15

    Direct comp: Electrical Components & Equipment (NEC); micro-cap ($65m); shares demanding, environments, precision, develops, technologies, solutions with the target's own description; no forward EV/Sales published — counted as a peer, excluded from the median.

  • RAL Ralliant Corporation$5.7bn · 3.7× fwd EV/Sales · sim 0.14

    Direct comp: Testing & Measuring Equipment; mid-cap ($5.7bn); shares precision, safety, environments, technologies, solutions, products with the target's own description; forward EV/Sales 3.7x.

Operational · 7 the same sector on a weaker description match, or a neighbouring sector on a strong one

  • ARXS Arxis Inc · 13.1× fwd EV/Sales · sim 0.14

    Operational comp: Industrial Machinery & Equipment (NEC); shares demanding, environments, precision, performance, products, solutions with the target's own description; forward EV/Sales 13.1x.

  • VPG Vishay Precision Group, Inc.$511m · 2.4× fwd EV/Sales · sim 0.13

    Operational comp: Testing & Measuring Equipment; small-cap ($511m); shares demanding, precision, safety, technologies, designed, solutions with the target's own description; forward EV/Sales 2.4x.

  • CLIR ClearSign Technologies Corp$30m · 3.9× fwd EV/Sales · sim 0.13

    Operational comp: Industrial Machinery & Equipment (NEC); micro-cap ($30m); shares safety, performance, operational, technologies, develops, designed with the target's own description; forward EV/Sales 3.9x.

  • KITT Nauticus Robotics Inc$22m · fwd EV/Sales · sim 0.12

    Operational comp: Industrial Machinery & Equipment (NEC); micro-cap ($22m); shares operational, improve, safety, develops, designed, solutions with the target's own description; no forward EV/Sales published — counted as a peer, excluded from the median.

  • AEIS Advanced Energy Industries, Inc.$7.9bn · 5.1× fwd EV/Sales · sim 0.09

    Operational comp: Electrical Components & Equipment (NEC); mid-cap ($7.9bn); shares precision, improve, technologies, designed, solutions, products with the target's own description; forward EV/Sales 5.1x.

  • CPSH CPS Technologies Corp$58m · 2.0× fwd EV/Sales · sim 0.09

    Operational comp: Electrical Components & Equipment (NEC); micro-cap ($58m); shares demanding, performance, technologies, solutions, and with the target's own description; forward EV/Sales 2.0x.

  • AMSC American Superconductor Corp$1.6bn · 3.7× fwd EV/Sales · sim 0.07

    Operational comp: Electrical Components & Equipment (NEC); small-cap ($1.6bn); shares operational, safety, performance, solutions, designed, products with the target's own description; forward EV/Sales 3.7x.

Adjacent · 3 the descriptions read alike but the vendor classification disagrees — shown, never counted in the median

  • COCO The Vita Coco Company, Inc.$3.0bn · 4.3× fwd EV/Sales · sim 0.22

    Adjacent: Non-Alcoholic Beverages (NEC) — the businesses read alike, the vendor classification does not agree; mid-cap ($3.0bn); shares vita, products, and with the target's own description; forward EV/Sales 4.3x.

  • MATV Mativ Holdings, Inc.$664m · 0.8× fwd EV/Sales · sim 0.16

    Adjacent: Commodity Chemicals (NEC) — the businesses read alike, the vendor classification does not agree; small-cap ($664m); shares demanding, performance, precision, technologies, solutions, products with the target's own description; forward EV/Sales 0.8x.

  • VWAV VisionWave Holdings Inc$138m · fwd EV/Sales · sim 0.14

    Adjacent: Aerospace & Defense (NEC) — the businesses read alike, the vendor classification does not agree; micro-cap ($138m); shares environments, operational, precision, develops, designed, technologies with the target's own description; no forward EV/Sales published — counted as a peer, excluded from the median.


Cash in trust over time

XBRL, per filing

How much cash has stood behind each share at each filing date.

Show the filed values
Mar 31, 2026+0.11 /shJun 30, 2026
lo $10.59hi $10.70
  • 30 June 2026$10.70
  • 31 March 2026$10.59

In plain English

tap a term to open it

Every 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 filings
Data 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.

TAVI — company record
DEAL-DETECT2026-07-13

deal activity detected (425 2026-07-13) — target TBD, verify

SPONSOR-ID2026-08-14

sponsor "Tavia Sponsor Pte. Ltd." (SEC CIK 0002020381) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-24-105208.

SECURITY-TERMS-MINED2026-08-16

rightShareRatio=0.1, unitSeparationDays=90 from the definitive prospectus (0001213900-24-105362). NOT FILLED: warrantStrike — no stated candidate; warrantCallPrice — no stated candidate

Deal — Vita Inclinata Technologies, Inc.
TYPED2026-08-20

expected close as filed: "fourth quarter of 2026" — typed as Q4 2026; the remainder is attribution, not a stated close.

Calendar — Mar 5, 2027 · Outside date
EVENT-BLITZ2026-08-14

10-Q acc 0001213900-26-088372 states the date. The 18-month-from-2024-12-05 arithmetic gives 2026-06-05 instead; the filing's own words are used (reviewed individually 2026-08-14). Extension mechanism: shareholder-vote, from the filings: "    Therefore, we have determined to seek shareholder approval to extend the date by which we must consummate an initial business combination."

Also listed inUpcoming mergers