A SPAC share is a claim on cash. We publish whether it still holds.

The broker cutoff

The deadline in the filing is not the day you have to act.

A redemption election has to travel through your broker and DTC before it reaches the transfer agent, and that queue closes roughly two trading days before the date the company prints. Miss it and the right simply lapses — nothing bounces, nothing warns you. SpacBrain computes that cutoff on every dated event, counting real NYSE trading days so a deadline after a holiday weekend points at the Friday and not the Monday.

• YHNA redemption deadlineSep 8, 2026Filing says Sep 10, 2026 · 2 days earlier at the broker · that cutoff has already passed
• YHNA extension voteSep 10, 2026Filing says Sep 14, 2026 · 4 days earlier at the broker
• ROSS redemption deadlineSep 10, 2026Filing says Sep 14, 2026 · 4 days earlier at the broker
• NHIC redemption deadlineSep 11, 2026Filing says Sep 15, 2026 · 4 days earlier at the broker
• WEL extension voteSep 11, 2026Filing says Sep 15, 2026 · 4 days earlier at the broker
• WINV extension voteSep 11, 2026Filing says Sep 15, 2026 · 4 days earlier at the broker

15 dated events are ahead of us right now, each with its own cutoff — and on 1 of them the day a holder could act has already gone while the date in the filing is still in the future. That gap is the reason this page leads with the cutoff and not the deadline. The date is ours to compute and yours to confirm: brokers set their own internal deadlines, and some are earlier still.

Every cutoff, in the terminal →Why the gap exists →

The floor verdict

One question, asked the same way every time — and five answers, none of them “we don’t know”.

A discount to trust is only money someone can collect while the right to redeem still exists. So a single module decides that, once, for the whole fleet — and every surface reads its answer rather than re-deriving one. It returns five verdicts, because a boolean cannot tell a young SPAC with no election on file apart from one whose window closed with nothing behind it, and those two facts mean opposite things to whoever is holding the share.

• Floor holds

  Floor confirmed — a dated redemption event is on file

• No election on file

  No redemption election on file — an absence in our record, not a right that is missing

• No date ahead

  Last election has passed and no new one is on file — no dated way to claim the cash

• No floor

  No floor — the right to claim the cash has gone

• Trust settled

  This SPAC has finished — its trust was paid out or used to close the deal, so there is nothing left to redeem

The line above each answer is the answer: solid where a dated election is on file, dotted where we hold none, stopping short where the last one has passed, broken where there is nothing left to claim. It is the same drawing as the logo and the same rule that sits under this page’s headline — the brand and the verdict are one mark, which is why no competitor can lift it without also being a product about floors.

The citations

No number here exists without a document behind it.

The trust figure is the one a reader stakes money on, so it is read out of the filer’s own XBRL facts rather than retyped from a press release, and the snapshot records which document it came from. Where a filing does not state something, the field stays null and the screen says so — a missing value is countable, and a confident guess is not.

Trust per share, from XBRL

265 of 463

Dated trust snapshots read out of the filer's own XBRL facts rather than retyped from a press release — either the company-facts feed directly, or the balance sheet of the 10-Q that agrees with it.

Trust coverage, live vehicles

345 of 365

Vehicles still holding a trust that carry a filed trust-per-share figure. Completed and liquidated SPACs are excluded from the denominator: their trusts are settled, which is an answer and not a gap.

Filed redemption outcomes

397 of 397

Actual redemption results parsed from post-vote 8-Ks, 10-Qs and definitive proxies. The accession is a required column, so a figure with no citation cannot be written at all.

Unit, warrant and right terms

426

SPACs whose warrant strike, call price, right ratio and unit separation carry the accession they were mined from. The rest stay null rather than inheriting the market's usual $11.50 — an assumption nothing recorded is worse than a blank.

The index

You can just ask it, and it shows you which filings it read.

12,613,267 passages from 219,733 stored filings are indexed for retrieval, and 23,949 of those filings carry a written summary of what changed in them. An answer that cannot point at a document it read is not an answer this product will give.

Ask it something →

The refusals

Most of the work is in the numbers we decline to print.

• It will not print a yield on a share nobody can redeem.

  A price 40% under trust is a discount if the holder can still claim the cash and a distress signal if they cannot. One module decides which, for every name, and the yield columns are gated on its answer rather than on the arithmetic.

• It will not colour a gain green when the floor is gone.

  Where the redemption right has lapsed, a gain or loss collapses to plain body ink and the chip goes grey. The fact stays on the screen exactly as it was; the celebration is what gets removed.

• It will not move a deadline backwards.

  An unattended job may only write a redemption deadline when the same document both names one improving date and shows the extension was actually approved. Anything ambiguous is refused, and the refusal is recorded with its citation instead of being silently skipped.

• It will not present an estimate as a filed figure.

  Trust accretes interest between filings, so today's value is modelled from the last filed stamp and the three-month bill. That number is labelled as an estimate everywhere it appears, carries the date it accreted from, and never replaces the figure a filing actually states.

The whole fleet

It keeps the ones that ended. A tracker that drops the failures is a survivorship machine.

918 of the 1283 vehicles on this site have already finished — 576 closed a deal and 342 returned their trust and wound up. They are kept, scored and searchable, because any claim about how SPACs typically turn out that quietly omits the ones that quietly gave the money back is not a statistic.

Open the screener →Start from the beginning →

Questions

The things a stranger asks first.

What is SpacBrain?

A research site for SPACs. It reads SEC filings for every blank-check vehicle it can identify, works out what the trust holds per share and whether the right to redeem into it is still live, and publishes both with the filing each figure came from.

Where does the data come from?

SEC EDGAR — S-1s and prospectuses for the structure, 10-Qs and XBRL company facts for the trust, 8-Ks and proxies for votes, deadlines and redemption outcomes — plus market prices for the securities themselves. Nothing on the site originates with us except the arithmetic and the verdicts, and both are documented.

What is a broker cutoff, and why is it different from the deadline in the filing?

A redemption instruction has to pass through your broker and DTC before it reaches the transfer agent, and that chain closes roughly two trading days before the date the company prints. The company's date is the one in the proxy; the broker's is the one you can actually miss.

What does it mean when a SPAC has no floor?

That the record shows the right to hand shares back for trust cash has gone, so the trust value is no longer a floor under the price. A share trading far under trust in that state is not a discount — it is what the market thinks the business is worth without the cash.

How current is any of this?

Filings are polled continuously and prices on a market cadence. Every page states the time its figures were read, and the numbers on this page were read when the page was rendered.

Is this investment advice?

No. It is research tooling for private use. The floor is the redemption right, not the trust itself, and every figure here should be confirmed against the filing it cites before anyone acts on it.