Spark I Acquisition Corp.
SPKLW
NASDAQ2.27
USD
+0.09
- -
Spark I Acquisition Corp.
SPKLW
(NASDAQ)
Recent
price
2.27
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Similar Companies
- Business
- Spark I Acquisition Corporation (SPKLW) is a blank check company, or special purpose acquisition company (SPAC), formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company does not have significant operations and focuses on identifying suitable targets, primarily late-stage technology startups in Asia or U.S. technology companies with a strong Asia presence or strategy and enterprise values exceeding $1 billion; it explicitly avoids entities with principal operations in China, Hong Kong, or Macau. Incorporated in 2021 as a Cayman Islands exempted company and headquartered at 3790 El Camino Real, Unit #570, Palo Alto, California, Spark I Acquisition Corporation is sponsored by SLG SPAC Fund LLC, an affiliate of SparkLabs Group, a global network of startup accelerators and venture capital funds. The company's securities include redeemable units (SPKLU), Class A ordinary shares (SPKL), and warrants (SPKLW, exercisable at $11.50 per share and expiring September 28, 2028); these were offered via a $100 million initial public offering in October 2023 at $10 per unit, with each unit comprising one Class A ordinary share and one-half warrant, listed on Nasdaq. Spark I Acquisition Corporation leverages SparkLabs Group's ecosystem, which has invested in over 550 technology-focused startups across six continents since 2013, to source de-SPAC opportunities among nurtured portfolio companies seeking public listings. In recent developments within the last two years, the company signed a non-binding letter of intent in October 2024 to merge with Kneron Holding Corporation, a San Diego-based provider of edge artificial intelligence solutions for vehicles, security, and AIoT applications, though negotiations continue post-expiration without a definitive agreement; it also pursued interest in a hospitality software company as a secondary option. In January 2025, Spark I Acquisition Corporation entered a promissory note agreement with sponsor SPAC Fund LLC for up to $1.9 million in non-interest-bearing working capital financing (with $840,000 drawn as of April 2025), repayable upon business combination completion, and appointed a new auditor. These moves reflect ongoing efforts to extend its operational runway amid active target pursuits, per its March 2025 10-K filing.