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SearchingWENC U · NYSECIK 2104260Sponsor at IPO: West Enclave Sponsor LLC

West Enclave Merger Corp.

$116MTrust raised at IPO

  1. IPO29 Apr 2026
  2. Searching21 months
  3. Deal announced—
  4. Closed—

Deadline before any extension: 1 Feb 2028 (21 months from the IPO closing). Extensions approved later are not added.

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

  1. 01

    Smaller than 77% of 2026’s SPAC IPOs.

    $115M raised, against a median of $200M for the 155 SPACs that priced in 2026 so far.

  2. 02

    $10.10 in trust per unit, above the 2026 median.

    The median that year was $10.00. Above $10.00, the sponsor tops up the trust from its own private placement.

  3. 03

    Original deadline February 2028.

    21 months from the IPO closing, before any extension. No business combination agreement is in force.

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

Key terms

Other 2026 SPAC IPOs →
IPO priced
29 Apr 2026
IPO closed
1 May 2026
Raised
$115M
Units sold
11,500,000
Trust raised
$116M1
Trust per unit
$10.102
Unit
1 sh + 1 right (1/10)3
Months to complete
214
Deadline before extensions
1 Feb 2028
Over-allotment
Exercised in full

Each unit: “one ordinary share and one right to receive one-tenth of one ordinary share”

How it compares

West Enclave Merger Corp. against the 155 SPACs that priced in 2026.

Raised
$115M
72% of 2026 SPACs are above it
2026 median: $200M
Trust per unit
$10.10
97% of 2026 SPACs are below it
2026 median: $10.00
Months to complete
21
54% of 2026 SPACs are above it
2026 median: 24

Trust and redemptions

No extension or merger vote with paid redemptions is on record for this SPAC yet.

Firms named in the prospectus

Company counsel

Underwriters’ counsel

Sponsor

No other SPAC from West Enclave Sponsor LLC or a vehicle of the same name priced since 1 January 2019.

Peers

Other 2026 SPAC IPOs with EarlyBirdCapital, Inc. as bookrunner.

SPACIPORaisedUnitStatus
Three Lions Acquisition Corp.31 Aug 2026$100M1 sh + ½ warrantSearching
Pelican Acquisition II Corp23 Jul 2026$86.3M1 sh + 1 right (1/10)Searching
AmperCap Acquisition Co2 Jun 2026$143M1 sh + 1 right (1/10)Searching
Peace Acquisition Corp.21 May 2026$60M1 sh + 1 warrant + 1 right (1/5)Searching
RF Acquisition Corp III12 Feb 2026$100M1 sh + 1 right (1/10)Deal announced

Sources

  1. PFinal prospectus: 0001193125-26-194920
  2. 1Trust raised: 0001193125-26-220068net proceeds from the sale of the Over-Allotment Option Units and the additional Private Placement Units and the EBC loan was deposited in the Trust Account, bringing the aggregate proceeds deposited in the Trust Account to $116,150,000.
  3. 2Trust per unit: 0001193125-26-194920The proceeds of the EBC loan will be added to the trust account in order to ensure that the amount initially deposited in the trust account is $10.10 per unit sold to the public in this offering.
  4. 3Unit composition: 0001193125-26-194920Each unit has an offering price of $10.00 and consists of one ordinary share and one right entitling the holder thereof to receive one-tenth of one ordinary share
  5. 4Months to complete: 0001193125-26-194920We will have up to 21 months from the closing of this offering to consummate a business combination.

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.