Menu
Compare

Completed · 13 Sept 2024PLMI U · NasdaqCIK 1840317Sponsor at IPO: Plum Partners, LLC

Plum Acquisition Corp. I

Now Veea Inc. · Name history

$319MTrust raised at IPO · 2% of public shares left after its last counted vote

Merged with Veea Inc. (VEEA) · Technology and telecoms

  1. IPO15 Mar 2021
  2. Searching24 months
  3. Deal announcedAgreement signed
  4. Closed13 Sept 2024

Tavia Read What stands out, from the filings · snapshot 14

  1. 01

    Larger than 77% of 2021’s SPAC IPOs.

    $319M raised, against a median of $239M for the 610 SPACs that priced in 2021.

  2. 02

    98% of public shares redeemed across 4 votes.

    3 extension votes and the merger vote, counted from the SPAC’s 8-Ks. 2% of the public shares remained after the last one.

  3. 03

    Closed its merger 42 months after its IPO.

    The combined company is Veea Inc. (VEEA). Sector: Technology and telecoms.

Worked out from checked figures in snapshot 14 · no forecasts or advice

Key terms

Other 2021 SPAC IPOs →
IPO priced
15 Mar 2021
IPO closed
18 Mar 2021
Raised
$319M
Units sold
31,921,6341
Trust raised
$319M2
Trust per unit
$10.003
Unit
1 sh + ⅕ warrant4
Months to complete
245
Deadline before extensions
18 Mar 2023
Over-allotment
Exercised in part

Each unit: “one Class A ordinary share and one-fifth of one redeemable warrant”

Name history

The same company under every name it has filed with the SEC, tracked by its CIK, 1840317. This page keeps its IPO name; the others lead here.

  1. Plum Acquisition Corp. IAt IPO1 Feb 2021 – 18 Sept 2024
  2. Veea Inc.Now18 Sept 2024 – today

Dates are those EDGAR records for each name, as of 16 October 2026. A name change follows a shareholder vote or a merger’s closing, and is reported in an 8-K.

How it compares

Plum Acquisition Corp. I against the 610 SPACs that priced in 2021.

Raised
$319M
77% of 2021 SPACs are below it
2021 median: $239M
Trust per unit
$10.00
63% of 2021 SPACs match it
2021 median: $10.00
Months to complete
24
56% of 2021 SPACs match it
2021 median: 24
Redeemed across its votes
98%
70% of 2021 SPACs are below it
2021 median: 94%

Trust and redemptions

  1. Extension vote · 15 Mar 202326,693,416 of 31,921,634 redeemed (84%)
  2. Extension vote · 13 Sept 20231,972,625 of 5,228,218 redeemed (38%)
  3. Merger vote · 4 Jun 20242,662,592 of 3,255,593 redeemed (82%)
  4. Extension vote · 14 Jun 202419,230 of 593,001 redeemed (3%)

Public shares before each vote and the shares redeemed, as its 8-Ks (or the next 10-Q or 10-K) state them. Only votes whose redemptions were paid count.

Firms named in the prospectus

Company counsel

Underwriters’ counsel

Auditor

Other SPACs from Plum

Plum’s track record →

Plum has brought 2 SPACs to market since 1 January 2019, $492M in all: 1 completed, 1 with a deal announced. 1 of the 1 that reached an end completed a merger.

Plum III is in our data under its IPO name: Alpha Partners Technology Merger Corp. (renamed Plum Acquisition Corp. III). No SPAC named Plum II is in our data. It either priced before 1 January 2019, came to market under another name (SPACs are listed by their name at IPO), never came to market, or is not yet in an approved snapshot, so this record may understate the sponsor.

SPACIPORaisedStatusOutcomeMonths
Plum Acquisition Corp, IV14 Jan 2025$173MDeal announced——
Plum Acquisition Corp. I This SPAC15 Mar 2021$319MCompletedVeea Inc. (VEEA)42

Months: from the IPO to the merger’s closing or the liquidation. SPACs are grouped by sponsor when their names, or their sponsor entities, match once the legal form and series numeral are taken off.

Peers

Other 2021 SPAC IPOs with Goldman Sachs & Co. LLC as bookrunner.

SPACIPORaisedUnitStatus
FTAC Emerald Acquisition Corp.15 Dec 2021$249M1 sh + ½ warrantCompleted
Sculptor Acquisition Corp I8 Dec 2021$230M1 sh + ½ warrantLiquidated
Ascendant Digital Acquisition Corp. III9 Nov 2021$300M1 sh + ½ warrantLiquidated
7 Acquisition Corp4 Nov 2021$230M1 sh + ½ warrantLiquidated
Rigel Resource Acquisition Corp.4 Nov 2021$300M1 sh + ½ warrantLiquidated

Sources

  1. PFinal prospectus: 0001193125-21-084016
  2. 1Units sold: 0001193125-21-151772holders of the units sold in the Company’s initial public offering of 31,921,634 units, completed on March 18, 2021 and April 9, 2021
  3. 2Trust raised: 0001193125-21-122852The net proceeds from the IPO (including the Over-Allotment Units) together with certain of the proceeds from the Private Placements, $319,216,340 in the aggregate (the “Offering Proceeds”), were placed in a trust account
  4. 3Trust per unit: 0001193125-21-084016$300,000,000, or $345,000,000 if the underwriters’ over-allotment option is exercised in full ($10.00 per unit in either case), will be deposited into a U.S. based trust account
  5. 4Unit composition: 0001193125-21-084016Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one-fifth of one redeemable warrant.
  6. 5Months to complete: 0001193125-21-084016If we have not consummated an initial business combination within 24 months from the closing of this offering, we will redeem 100% of the public shares for cash

Each quote is found word for word in the filing it cites. Where a figure here differs from the filing, the filing prevails.

How the figures are compiled
  • Which IPOs. Every final IPO prospectus (Form 424B4 or 424B1, or a 424B3 when it is the first prospectus filed on an S-1 or F-1 registration within 10 days of it going effective) filed on SEC EDGAR from the history start, by a registrant whose SIC code was 6770 (blank checks) on the filing date. Offerings that are not exchange-listed SPAC IPOs are excluded when the prospectus is read. The window starts on 1 January 2021.
  • Dated by. The date of the final prospectus.
  • Raised. Units sold to the public, including over-allotment units, times the unit price, as stated in the SPAC's 8-K reports after the IPO.
  • Trust. The trust held for public shareholders after the IPO and any over-allotment: trust per unit times public units, as stated in the SPAC's filings. Cash deposited in trust and then moved out as working capital is not counted.
  • Bookrunners. Firms the prospectus names as book-running managers; where it names none, the firm it names as sole underwriter or representative of the underwriters. Only the prospectus's own wording counts, not later 8-K reports. Each IPO's gross proceeds are split equally among its bookrunners.
  • Counsel and auditors. Issuer counsel and underwriters' counsel as named in the prospectus's Legal Matters section; the auditor as named in its Experts section. Each is credited with the IPO's full gross proceeds.
  • Unit structure. What one unit consists of, as the prospectus states it: a share with warrants, with rights, with both, or a share alone (shares-only offerings sell no units). Warrants per unit is the fraction of a warrant in each unit; rights are measured as the fraction of a share they convert into per unit.
  • Trust per unit. Dollars placed in the trust account for each unit sold to the public, as the prospectus states it.
  • Time to complete. Months from the IPO closing that the SPAC has to complete its business combination before any extension, as the prospectus states it.
  • Over-allotment. Whether the underwriters bought all, part or none of the over-allotment option, comparing units sold with the base offering and the option.
  • Votes. Shareholder votes to extend a SPAC's deadline or to approve its business combination, as reported in its 8-Ks (Item 5.07), for the SPACs in the IPO statistics only: SPACs that priced before the history start are not included, so votes in the first years under-represent the market. Only redemptions actually paid count: votes on a proposal that failed, or an extension that was approved but never took effect, are left out (redemption requests lapse with them), and a merger vote counts only when the deal closed, and only the last merger vote before the closing, since merger redemptions are paid at closing. Liquidation votes are left out too, as every public share is redeemed by definition.
  • Redemption rate. Public shares redeemed at a vote over public shares outstanding just before it. Shares redeemed are as an 8-K, or failing that the next 10-Q or 10-K, states them. Shares before are as a filing states them, or redeemed plus the shares left after, or carried from the IPO's public shares and earlier votes. The median is the typical vote; the weighted rate divides all shares redeemed by all shares before, the share of public money that left the trusts. A vote counts only when each of these figures is verified or accepted. Votes whose redemption count no filing states, after a search of the SPAC's and the combined company's filings, are counted as not disclosed rather than estimated.
  • Outcomes. Where each SPAC stands as of the snapshot: completed (business combination closed), liquidated (trust returned and redeemed), deal pending (agreement signed, not closed) or searching (no agreement in force). Grouped by the year the SPAC priced its IPO. Awaiting review means its status is still being checked.
  • Closings. Completed business combinations by year of closing. The sector is the SEC's industry code (SIC) of the combined company, grouped into broad sectors; months from IPO run from the prospectus date to the closing.
  • Checking. A SPAC counts only when every required figure is verified (quote found verbatim in the filing and all cross-checks pass) or accepted by a named reviewer.
  • Coverage. 1,077 of the 1,089 SPAC IPOs read are counted; 12 wait on a figure still under review and 11 filings were excluded as not exchange-listed SPAC IPOs.

Compiled from SEC filings with the assistance of AI · figures as of 3 November 2026

For information only. These figures are compiled from SEC filings with the assistance of AI. Although they are checked against those filings, they may contain errors or omissions and have not been audited; where they differ from the filings, the filings prevail. They are not an offer to sell, a solicitation of an offer to buy, or a recommendation of any security. Information about any SPAC is qualified in its entirety by its filings with the SEC, available at www.sec.gov.