Failure to consummate an initial business combination
The company exists to complete one transaction; without it, the SPAC cannot transition to operations.
- Scope
- All shareholders
- Materiality
- high
Disciplined Growth Acquisition Corp
DISCIPLINED GROWTH ACQUISITION Corp is a U.S.-listed special purpose acquisition company formed to complete a merger, share exchange, asset acquisition, or similar business combination. As a blank-check company, it does not operate a traditional commercial business before the combination and instead holds IPO proceeds in trust while it searches for a target company.
| % | |
|---|---|
| SPAC Capital Structure | 100% Public units, shares, and rights issued to raise trust capital for a future acquisition. |
| Private Placement Securities | 0% Units sold to sponsor and related investors alongside the IPO to support the SPAC structure. |
| Business Combination Platform | 0% Transaction vehicle used to identify and merge with an operating target company. |
The company’s economic counterparties are primarily public investors, the sponsor, underwriters, and private placement...
- Public SPAC investorsprimary
Buy public units and shares for exposure to a future acquisition and redemption rights.
- Sponsor and private placement investorsprimary
Provide capital through private placement units and founder share arrangements.
- Underwriterssecondary
Distribute the IPO and option units and support the capital raise process.
- Target company stakeholderssecondary
Potential merger counterparties that may receive public-company access through a combination.
The company is organized in the United States and is listed on the NYSE. Its business activity is primarily U.S...
- •United States is the formation and listing base
- •NYSE listing anchors investor access and trading
- •Capital raising is U.S.-market driven
- •Future operating geography depends on acquisition target
The company’s strategy is to identify and complete an initial business combination within its permitted timeframe...
01
Identify an acquisition targetshort-term
A completed combination is the company’s only operating path.
02
Maintain listing eligibilityshort-term
NYSE status supports liquidity and target-company appeal.
03
Manage shareholder approvals and redemptionsshort-term
Redemptions affect trust capital available for a deal.
The main risks are SPAC-specific: failure to complete a business combination on time, shareholder redemptions that...
Shareholder redemptions during extension or closing votes
Redemptions reduce cash held in trust and can impair deal funding.
- Scope
- Trust account and transaction size
- Materiality
- high
NYSE suspension or delisting
Missing the combination deadline can trigger trading suspension and lower liquidity.
- Scope
- Public shares and rights
- Materiality
- high
Limited access to additional financing
A SPAC with no operating business may find it harder to raise capital if market conditions weaken.
- Scope
- Deal financing and working capital
- Materiality
- medium
Trust account accounting
Affects balance sheet presentation and available transaction capital
Fair value of public rights and private placement units
Can materially affect reported earnings
Deferred offering costs
Affects equity and transaction-related expenses
Founder share and sponsor equity accounting
Affects ownership structure and per-share metrics
: 17/07/2026