10X Capital Venture Acquisition Corp
VCVC · 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 10X Capital SPAC Sponsor I LLC, listed on Nasdaq in November 2020.
- What it's doing now
- It agreed in July 2021 to buy REE Automotive Ltd., an Automotive technology company developing electric vehicle platforms 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
- REE Automotive Ltd.
- Industry
- Automotive technology company developing electric vehicle platforms
- Deal value
- not stated in the filings we hold
- announced 1 July 2021
- 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
- 25 November 2020
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 1 WORLD TRADE CENTER, NEW YORK, NY, 10007
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Thomas Hans (Chief Executive Officer) · Weisburd David (Chief Operating Officer) · Kandasamy Guhan (Chief Financial Officer)
- Listed securities
- VCVC 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.
- 25 November 2020IPOpassed
IPO size not on file
- 1 July 2021Deal announcedpassed
Combination with REE Automotive Ltd.
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- REE Automotive Ltd.— · announced 1 July 2021closedpost-close REESEC primary
The score
deterministic, from filed fieldsVCVC is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 295 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
10X Capital Venture Acquisition Corp was a blank-check company whose common stock traded on the Nasdaq Stock Market under the ticker VCVC and was assigned SEC CIK 0001821595. The company priced its initial public offering on November 25, 2020, under SEC file number 333-249072, with the pricing prospectus filed as 424B4 accession 0001213900-20-039309 under S-1 accession 0001213900-20-028496, which was filed on September 25, 2020, as a registration of shares sold for cash. The registrant was classified under SEC SIC industry code 3714 (Motor Vehicle Parts & Accessories) and described itself as a blank-check company in its prospectus. The common ticker VCVC appeared on the cover page of the company's 10-Q filing, accession 0001213900-21-028798, filed on May 24, 2021. The vehicle is closed, having completed a business combination and ceased filing, as established by Form 25, accession 0001354457-21-000838, filed on July 22, 2021, under 17 CFR 240.12d2-2(a)(3), indicating that the shares came to evidence other securities in substitution therefor.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
REE restructures its own capital before the merger so that the exchange lands on a round number: its preferred shares convert into Class A Ordinary Shares, and REE then effects a stock split calculated so that each Class A Ordinary Share has a value of $10.00 per share after the split. The $10.00 is therefore a construct of the Capital Restructuring, not a market price. A 10X Capital holder ends up holding shares of an Israeli company, with the SPAC surviving beneath it as a wholly owned subsidiary.
Financially unencumbered: roughly $1.34 million of positive working capital, no sponsor debt and a deadline of May 27, 2022. A business combination with REE Automotive is described, in which each Class B share converts at 1.5763975 shares of common stock before each common share becomes one REE Class A ordinary share. That conversion ratio is well above one for one and increases the founder stake at closing, so public holders should model dilution using the ratio rather than assuming a straight 20 percent promote.
Voting power is separated from economics twice over. REE's Class B ordinary shares carry 10 votes each and will initially all be held by REE's founders, who will have up to 78% of the voting power after the merger, a founder's Class B votes being suspended only if that founder falls below 33% of their original Class A holding. On the SPAC side the charter would have given Class B holders Anti-Dilution Shares equal to 25% of the shares issued to PIPE Investors; they waived anything above 2,900,000, which fixes the 1.5763975 Conversion Ratio.
The $225,000,000 minimum-cash test is the number that decides whether redemptions can break this deal, and it is measured AFTER redemptions with the PIPE counted in — the standard structure, and the reason a large PIPE is a redemption shock-absorber rather than a nicety. The founder economics are also unusual and worth carrying: Class B holders would receive Anti-Dilution Shares equal to 25% of the shares issued to PIPE Investors, but agreed by Letter Agreement to waive anything above 2,900,000, of which up to 1,500,000 are forfeitable if REE's trading prices fall short.
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: 10X Capital Venture Acquisition Corp issued definitive merger materials for a special meeting on the Agreement and Plan of Merger dated February 3, 2021 with REE Automotive Ltd., an Israeli company, and Spark Merger Sub Inc. Merger Sub merges into 10X Capital, which survives as a wholly owned subsidiary of REE, and 10X Capital's securityholders become securityholders of REE. The document is also a prospectus for up to 28,056,250 REE ordinary shares, 15,562,500 warrants and the 15,562,500 ordinary shares issuable on their exercise. Why it matters: REE restructures its own capital before the merger so that the exchange lands on a round number: its preferred shares convert into Class A Ordinary Shares, and REE then effects a stock split calculated so that each Class A Ordinary Share has a value of $10.00 per share after the split. The $10.00 is therefore a construct of the Capital Restructuring, not a market price. A 10X Capital holder ends up holding shares of an Israeli company, with the SPAC surviving beneath it as a wholly owned subsidiary.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- no earlier filing2021-08-15
SpacBrain reads this as the agreement may be terminated from 2021-08-15.
The clause …“SPAC or the Company if the Transactions shall not have been consummated by August 15, 2021 (the “ Outside Date ”); provided , however , that the right to terminate this Agreement under this Section 8.01(b) shall not be available to”…
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.
10X Capital SPAC Sponsor I LLCnamed as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1280 tracked SPACs (24%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
from 424B4 0001213900-20-039309
Trading & liquidity
Company profile
Directors & officers
- Thomas HansChief Executive Officer
- Weisburd DavidChief Operating Officer
- Kandasamy GuhanChief Financial Officer
- Levin WoodrowDirector
- Wriedt OliverPresident and Head of CM
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
9 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.
- INTEGRATED CORE STRATEGIES (US) LLCwith 4 other reporting persons on the same schedule9.0% · SC 13GDec 1, 2020 stale
- P SCHOENFELD ASSET MANAGEMENT LPwith 1 other reporting person on the same schedule7.8% · SC 13GApr 13, 2021 stale
- CITADEL ADVISORS LLCwith 5 other reporting persons on the same schedule6.7% · SC 13G/AFeb 16, 2021 stale
- Kepos Capital LPwith 1 other reporting person on the same schedule5.7% · SC 13GFeb 4, 2021 stale
- BlueCrest Capital Management Ltdwith 1 other reporting person on the same schedule5.7% · SC 13GDec 4, 2020 stale
- Linden Capital L.P.with 2 other reporting persons on the same schedule5.5% · SC 13GMay 12, 2021 stale
- Vellar Opportunities Fund Master, Ltd.1.2% · SC 13GDec 3, 2020 stale
- GLAZER CAPITAL, LLCwith 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 14, 2022 stale
- Feis Lawrence Michaelwith 1 other reporting person on the same schedule0.0% · SC 13G/AJul 23, 2021 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 — VCVC (10X Capital Venture Acquisition Corp)
vault-note · /vault/tickers/VCVC
- Vault deal note — REE Automotive Ltd. (VCVC)
vault-note · /vault/deals/ree-automotive-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 EDGAR's QUARTERLY FORM INDEX, walked without any SIC filter. The SIC 6770 census could not reach this registrant: EDGAR reassigns a shell's SIC the day it stops being one, and this CIK now files under 3714 (Motor Vehicle Parts & Accessories). The screen found it by filing SHAPE instead — S-1 2020-09-25 → 8-A12B 2020-11-23 → 424B4 2020-11-25 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 3714 + self-described blank check in 424B4 0001213900-20-039309; 424B 0001213900-20-039309 priced 2020-11-25 under S-1 0001213900-20-028496 (file 333-249072, an offering for cash); common ticker VCVC off 10-Q 0001213900-21-028798 (2021-05-24); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-249072, which belongs to S-1 0001213900-20-028496 (2020-09-25) — a registration of shares sold for CASH, which is what makes it an IPO rather than merger consideration. Blank-check status from the registrant's own first-person sentence in that prospectus (EDGAR full-text search, 424B4 2020-11-25). Ending PROVEN, not inferred: CLOSED per Form 25 0001354457-21-000838 (2021-07-22) — 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, warrant, 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 "10X Capital SPAC Sponsor I LLC" (SEC CIK 0001828671) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-20-039097.
AI-extracted target (z-ai/glm-5.2, conf 0.99)
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