Williams Rowland Acquisition Corp.
WRAC · NYSE
NO ACTION REQUIRED
Nothing left to do
The cash went back to shareholders and the company wound up. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
In plain terms
- What it is
- A SPAC from Williams Rowland Sponsor LLC, listed on NYSE in July 2021.
- What it's doing now
- It never completed a purchase. The company wound up and the cash in the account went back to shareholders — the ordinary ending when a SPAC runs out of time. No agreed deal for it is on file with us, so we cannot say whether one was ever announced and later fell through.
- What you should know
- This SPAC has finished. The cash was paid back to shareholders and the company wound up, so there is nothing left to claim — the money went where the charter said it would.
At a glance
- Where it stands
- Liquidated
- Deal
- none — it wound up and returned the cash instead
- Industry
- no filing we hold states a sector this SPAC restricted its search to
- Deal value
- no deal to value — it wound up instead
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 28 July 2021
- size not on file · 102.0% of each $10 unit into trust
- Headquarters
- 450 POST RD EAST, WESTPORT, CT, 06880
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Williams David Brewster (Co-CEO) · Rowland Jonathan David (Co-CEO)
- Listed securities
- WRAC common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
At the 22 December 2022 event.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
What has happened, and what is coming
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.
- 28 July 2021IPOpassed
IPO size not on file
redemption rate not stated in the filing
Who has already taken their money back
1 filed eventEach time shareholders were offered their cash back, some took it. Heavy cash-outs drain the account and shrink the number of shares left — whatever remains has to carry the deal.
Worst single event
—
no filing states a pre-event share count
Shares redeemed, all events
19.53M
across every filed redemption event
Every figure below is stated in the linked filing; nothing here is estimated.
- Dec 22, 2022Extensionno rate statedredeemed 19.53M sh0001213900-23-041649
The score
deterministic, from filed fieldsWRAC 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
Williams Rowland Acquisition Corp. was a blank-check company whose common stock and units traded on the New York Stock Exchange under the ticker WRAC. The company priced its initial public offering on July 28, 2021, as reflected in a 424B prospectus filed with the SEC. Its securities consisted of units, each comprising one share of common stock and one-half of one redeemable warrant. The company subsequently liquidated, returning trust cash to shareholders, with the redemption of its public shares recorded on Form 25 filed March 8, 2024, under 17 CFR 240.12d2-2(a)(1). The WRAC ticker appears on the cover page of an 8-K filed February 29, 2024.
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.
An aggregate contribution cap of $400,000 across eight months is minimal support: spread over the remaining public shares it adds only a few cents in total to the redemption value, so holders are being asked to wait almost a year for negligible accretion. The obligation to contribute terminates entirely in defined circumstances, meaning even that support is not assured. A companion redemption limitation amendment removes the net tangible asset floor. With no target named in this document, redemption at pro rata trust value is the concrete option on the table.
At roughly $10.28 per share on a $236.7 million trust, the redemption right is the dominant value and the Company states plainly there is not enough time before January 29, 2023 to identify a target and file a proxy. That means holders are being asked to fund a search that has produced nothing. Anchor investors holding 375,000 founder shares acquired for nominal consideration profit from almost any closing, an alignment problem for public holders. WRAC ultimately liquidated.
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.
- What changed vs 2023-08-22trust $36.6M → $27.2M -26%deadline 2023-08-29 → 2023-11-29shares 3.47M → 2.60M -25%
trust account, combination deadline, redeemable shares +23 moved · 2 with no prior record of ours
- Trust account
- $36.6M$27.2M
- Combination deadline
- 2023-08-292023-11-29
- Redeemable shares
- 3.47M2.60M
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $300K · unchanged
SpacBrain reads this as $9,364,152 left the trust between the two filings.
The clause …“124,966 214,912 Total current assets 226,166 698,849 Cash and Investments held in trust account 27,210,314 35,902,882 Total Assets $ 27,436,480 $ 36,601,731 Liabilities and Stockholders’ Deficit Current Liabilities Accounts payable”…
SpacBrain reads this as 92 days later than the previous record.
The clause …“toward consummating a Business Combination. If we are unable to complete a Business Combination by November 29, 2023 which date may be extended on a monthly basis to no later than March 29, 2024 (the “Combination Period”), we will”…
SpacBrain reads this as 868,870 shares are no longer redeemable.
The clause “0,000,000 shares authorized; 5,750,000 shares issued and outstanding (excluding 2,597,265 and 3,466,135 shares subject to possible redemption) 575 575 Additional paid-in capital — — Accumulated deficit ( 9,506,152 ) ( 8,228,074 ) Total”…
The clause “014-15, “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern”, management has determined that liquidity issues and capital constraints as described above, in addition to the mandatory liquidation, and”…
The clause …“consummates an initial business combination and January 26, 2023. The Company borrowed $ 300,000 under this promissory note which was outstanding as of September 30, 2023 and December 31, 2022. On January 20, 2023, the terms of”…
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.
Show the other 10 filings
- What changed vs 2023-05-22trust $36.2M → $36.6M +1%deadline 2023-07-29 → 2023-08-29
trust account, combination deadline, going-concern doubt +22 moved · 3 with no prior record of ours
- Trust account
- $36.2M$36.6M
- Combination deadline
- 2023-07-292023-08-29
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $300K · unchanged
- Redeemable shares
- 3.47M · unchanged
SpacBrain reads this as $417,614 was added to the trust between the two filings.
The clause …“68,753 214,912 Total current assets 266,294 698,849 Cash and Investments held in trust account 36,574,466 35,902,882 Total Assets $ 36,840,760 $ 36,601,731 Liabilities and Stockholders’ Deficit Current Liabilities Accounts payable”…
SpacBrain reads this as 31 days later than the previous record.
The clause …“toward consummating a Business Combination. If we are unable to complete a Business Combination by August 29, 2023 which date may be extended on a monthly basis to no later than March 29, 2024 (the “Combination Period”), we will (i)”…
The clause “014-15, “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern”, management has determined that liquidity issues and capital constraints as described above, in addition to the mandatory liquidation, and”…
The clause …“consummates an initial business combination and January 26, 2023. The Company borrowed $ 300,000 under this promissory note which was outstanding as of June 30, 2023 and December 31, 2022. On January 20, 2023, the terms of repayment of”…
The clause “0,000,000 shares authorized; 5,750,000 shares issued and outstanding (excluding 3,466,135 shares subject to possible redemption) 575 575 Additional paid-in capital — — Accumulated deficit ( 9,197,056 ) ( 8,228,074 ) Total Stockholders’”…
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: Williams Rowland Acquisition Corp. called a special meeting after holders had already extended its original January 29, 2023 deadline to July 29, 2023 at a December 22, 2022 vote. The new extension amendment would add up to eight further months to March 29, 2024, a total of up to 33 months after the IPO. Contributions are capped at an aggregate $400,000 if every monthly extension is exercised, made one business day after it announces each extension and evidenced by unsecured promissory notes. On the June 21, 2023 record date there were 9,216,135 shares of common outstanding. Why it matters: An aggregate contribution cap of $400,000 across eight months is minimal support: spread over the remaining public shares it adds only a few cents in total to the redemption value, so holders are being asked to wait almost a year for negligible accretion. The obligation to contribute terminates entirely in defined circumstances, meaning even that support is not assured. A companion redemption limitation amendment removes the net tangible asset floor. With no target named in this document, redemption at pro rata trust value is the concrete option on the table.
What changed vs 2022-12-06deadline 2023-07-29 → 2024-03-29combination deadline1 moved
- Combination deadline
- 2023-07-292024-03-29
SpacBrain reads this as 244 days later than the previous record.
The clause “HE “EXTENSION”) EIGHT (8) TIMES FOR AN ADDITIONAL ONE (1) MONTH EACH TIME UNTIL MARCH 29, 2024 IF APPROVED BY THE COMPANY’S BOARD OF DIRECTORS. For ☐ Against ☐ Abstain ☐ 1. PROPOSAL 2. REDEMPTION LIMITATION AMENDMENT PROPOSAL — APPROVAL”…
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.
Williams Rowland Sponsor LLCnamed as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1283 tracked SPACs (23%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
Unit: U = S + W · 102.0% of the $10 unit
from 424B4 0001213900-21-039097
Trading & liquidity
Company profile
Directors & officers
- Williams David BrewsterCo-CEO
- Rowland Jonathan DavidCo-CEO
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
6 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.
- Shaolin Capital Management LLC6.9% · SC 13GFeb 11, 2022 stale
- D. E. SHAW & CO, L.P.with 1 other reporting person on the same schedule1.4% · SC 13G/AFeb 14, 2023 stale
- Radcliffe Capital Management, L.P.with 5 other reporting persons on the same schedule0.0% · SC 13G/AFeb 14, 2024 stale
- Saba Capital Management, L.P.with 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 14, 2023 stale
- HIGHBRIDGE CAPITAL MANAGEMENT LLC0.0% · SC 13G/AJan 25, 2023 stale
- Beryl Capital Management LLCwith 2 other reporting persons on the same schedule0.0% · SC 13GDec 8, 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
39 full SEC filing texts archived — searchable, never lost.
- Vault note — WRAC (Williams Rowland Acquisition Corp.)
vault-note · /vault/tickers/WRAC
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 trail2 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 0001213900-21-039097 priced 2021-07-28; common ticker WRAC off 8-K 0001213900-24-018208 (2024-02-29); lifecycle EXITED. Ending PROVEN, not inferred: LIQUIDATED per Form 25 0001143313-24-000032 (2024-03-08) — Form 25 filed under 17 CFR 240.12d2-2(a)(1) — the rule for a class "called for redemption" or "redeemed or paid at maturity/retirement". For a SPAC that class is the public shares and that redemption is the trust going back (class: Common Stock; Units, each consisting of one share of common stock and one-half of one redeemable warrant). No wind-up press release was readable on the registrant's own file, so the per-share figure is not stored.. 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 "Williams Rowland Sponsor LLC" (SEC CIK 0001872811) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-21-039661.