CrossingBridge Pre-Merger SPAC ETF
SPC
NASDAQ Global Market- -
USD
- -
- -
Capital Structure
FRC
•
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
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- DE United States of America
- IPO Date
- Sep 21, 2021
- CIK
- 0001141819
- Website
- crossingbridgefunds.com
- Similar Companies
- Business
- CrossingBridge Pre-Merger SPAC ETF (NASDAQ: SPC) is an actively managed exchange-traded fund that primarily invests at least 80% of its net assets in shares of common stock and units of special purpose acquisition companies (SPACs) that have not yet completed a business combination and are trading at or below their pro rata share of the trust account value; the fund targets pre-merger SPACs to capture fixed-income-like characteristics with limited downside risk due to shareholder redemption rights, while seeking potential equity upside prior to de-SPAC transactions, positioning itself as a "renter" of these securities rather than a long-term owner post-merger. SPC offers investors exposure to a diversified portfolio of such SPACs, including holdings like Patria Latin American Opportunity Acquisition Corp Class A, Cartesian Growth Corp II, and Mercer Park Opportunities Corp, alongside cash equivalents such as First American Government Obligations; it emphasizes capital preservation and total returns benchmarked against short-duration U.S. Treasury indices. The ETF operates within the financial services sector, focusing on the SPAC arbitrage segment and serving institutional and retail investors seeking low-volatility equity alternatives with treasury-like downside protection. Launched on September 20, 2021, SPC is managed by CrossingBridge Advisors LLC, an investment adviser founded in December 2016 and headquartered at 427 Bedford Road, Suite 230, Pleasantville, New York; the firm, with over $4.2 billion in assets under management as of September 30, 2025, oversees the fund through a team including CIO David K. Sherman, T. Kirk Whitney, CFA, and Michael De Kler. In a significant operational change announced on July 25, 2025, the fund designated cash creations and redemptions as the default order type, replacing in-kind transactions to reduce trading volatility, narrow market price-NAV disparities, and enhance liquidity for market makers and investors. This adjustment reflects ongoing portfolio evolution, with recent holdings updates including additions like Empatan PLC warrants and shifts in cash positions as of mid-2025. No major acquisitions, funding rounds, or new product launches by the ETF or its adviser were reported in the last 1-2 years, maintaining its core focus on U.S.-listed pre-merger SPACs domiciled primarily in the United States.