Electrum Special Acquisition Corporation Unit
ELECU
NASDAQ Capital Market- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Industrials
- Industry
- Conglomerates
- Address
- United States of America
- IPO Date
- Jun 11, 2015
- CIK
- 0001639669
- Similar Companies
- Business
- Electrum Special Acquisition Corporation (ELECU) operates as a blank check company, or special purpose acquisition company (SPAC), incorporated in the British Virgin Islands and focused on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, with an initial target focus on the metals and mining sector, particularly gold and other precious metals. The company offers no current products or services beyond its SPAC structure, including units comprising one ordinary share and one-half of one redeemable warrant, which entitle holders to purchase additional shares at a specified exercise price. It targets investors seeking exposure to high-potential resource companies through a public vehicle and maintains operations managed from its sponsor's address, c/o Electrum Group LLC in New York, New York; founded in 2014, it completed a $200 million initial public offering in June 2015 underwritten by Cantor Fitzgerald. Geographically, while domiciled in the British Virgin Islands with U.S. administrative headquarters, the company pursues targets without specified regional limitations, though its sector emphasis aligns with global mining opportunities. In a significant operational development, Electrum Special Acquisition Corporation announced its liquidation and dissolution in May 2018 after failing to identify and complete an initial business combination within the required timeframe, with public shares ceasing trading on June 5, 2018, and redemptions distributed at approximately $10.48 per share from the trust account shortly thereafter. This followed multiple extension attempts and substantial prior redemptions that reduced trust assets to about $128.4 million; the sponsor forfeited its $7.025 million private placement warrants, and underwriters waived their deferred fees of roughly $5 million. Despite its defunct status, legacy units (ELECU) continue to appear in select trading platforms with nominal quotes around $10.80 as of late 2025, potentially reflecting residual or over-the-counter activity, though the entity conducts no active operations or new filings. No recent partnerships, acquisitions, funding, product launches, or strategic shifts have occurred post-liquidation.