Two SPACs covered by this site signed definitive business combination agreements that reached EDGAR between October 28 and November 3, 2026: NorthStrive Acquisition Corp I ($NSAI) with Nuclea Energy, and FG Imperii Acquisition ($FGII) with tZERO. Both contracts were signed on October 30 or 31 and filed on 8-Ks on November 2. Everything else that week was noise: IPO closings, extension paperwork and amendments to older deals. Below: filed terms, trust math and a do-it-yourself search recipe.

The two deals at a glance

Valuations are quoted as filed. Trust values are the latest reported, with dates.

At the November 2, 2026 close, both traded below their last reported trust value: $NSAI by 10 cents and $FGII by about 7 cents. Trust cash keeps earning interest after those dates, so the true gaps are probably a touch wider. The math says the market treats these as trust-backed paper, not growth stories, for now. $FGII did draw volume: 2,271,938 shares on November 2, 2026, against 112 on October 30. Why the trust number matters is covered in our explainer on how SPAC redemptions work.

NorthStrive and Nuclea: a nuclear bet with a $3 million cash floor

NorthStrive closed its $100 million IPO on August 19, 2026 and signed a target on October 30, just 72 days later. Nuclea is developing the Morpheus micro modular reactor, scalable from 3.5 MWe to 50 MWe, and is buying the assets of Moltex Energy Limited, which is in administration, for a spent-fuel recycling process. From the NorthStrive 8-K:

• Structure: NorthStrive moves from the Cayman Islands to Canada under the Canada Business Corporations Act, then Nuclea amalgamates with a subsidiary under British Columbia law. The combined company is expected to be renamed Nuclea-X Inc. and list on Nasdaq.
• Earnouts: 15 million earnout shares in three 5-million-share classes. Each class converts if, within four years, the company hits its milestone: criticality, regulator acceptance of a construction license or permit for a demonstration facility, or at least $100 million of grants or other non-dilutive funding.
• Minimum cash: at least $3,000,000 of available cash at closing. Against a $100 million trust, that is a low bar.
• Financing: no PIPE was announced. The agreement allows up to $20 million of convertible bridge debentures; a separate offering of up to $9 million funds the Moltex purchase, with $1,845,000 committed by PMGC Holdings ($ELAB), the sponsor's managing member.
• Hard dates: the Moltex deal must close by November 30, 2026. The merger's outside date is April 30, 2027 unless both sides extend it, two months before the press release's "first half of 2027" window ends.

FG Imperii and tZERO: the bigger trust and a forward purchase

FG Imperii signed an Agreement and Plan of Merger with tZERO Group on October 31, 2026. tZERO runs regulated plumbing for tokenized assets, including an SEC-registered broker-dealer, an alternative trading system and a CFTC-registered derivatives clearing organization. From the FG Imperii 8-K and press release:

• Consideration: $325,000,000 of stock at $10.00 a share, or 32.5 million shares, plus 2,500,000 earnout shares. The $350 million headline counts those earnout shares at $10 each.
• Earnout triggers: half on CFTC approval of tZERO's pending applications or a qualifying launch or license deal within four years; half on positive adjusted EBITDA in two separate three-month periods within 12 months of closing. Operating tests, not share-price hurdles.
• Cash: up to about $231 million in trust before redemptions and expenses, plus a term sheet for a forward purchase of up to 2.5 million shares by FG Merchant Partners LP, an affiliate of Fundamental Global, one of FG Imperii's co-leads. It still needs definitive documentation.
• Conditions and dates: HSR clearance and an effective S-4 are on the list; the 8-K's summary of closing conditions doesn't mention a minimum cash test. The outside date is March 15, 2027. The combined company plans to trade on NYSE American as "TZRO."

Holders of about 62% of tZERO's fully diluted capital signed support agreements. Next to NorthStrive, the contrast is clear: more than twice the trust, a forward-purchase term sheet already in hand, and half its earnout tested within 12 months of closing rather than over four years.

How to find new SPAC deals yourself

1. Open EDGAR full-text search on sec.gov and search the exact phrase "business combination agreement". Run second passes with "definitive agreement" "blank check" and "agreement and plan of merger" "blank check"; FG Imperii's contract is a merger agreement, so one phrase isn't enough.
2. Set the form filter to 8-K and a custom date range. This scan used October 28 to November 3, 2026.
3. Check the items on each hit. A new deal shows Item 1.01; both deals here also carried 7.01 and 9.01 for the press release.
4. Repeat with form 425, the form for Rule 425 deal communications. Both deals filed 425s the same day as their 8-Ks.
5. Open the 8-K for the signing date and counterparty, EX-99.1 for valuation and timing, and the latest 10-Q for trust per share.
6. Check where the target is based. Listing venue alone won't tell you whether a deal fits a US and Canada screen.

One catch: the search runs on filing date, not signing date. NorthStrive signed on October 30 and FG Imperii on October 31, but neither 8-K landed until November 2, so a window that stops at the signing date misses both.

The common mistake: treating every Item 1.01 as a new deal

Item 1.01 only means a material agreement was signed. This week it also flagged:

• IPO closings: SPACCircle Acquisition ($SCQC, October 28) and BHAV Acquisition Corp II ($BHAI, November 2) paired Item 1.01 with 3.02, 5.02 and 5.03 for their own IPOs.
• Amendments: Inflection Point Acquisition VII ($IPXG) filed an Item 1.01 8-K on October 28 for an October 27 amendment to its June 26, 2026 deal with Elroy Air.
• Extensions: Stellar V Capital ($SVCC) and K&F Growth Acquisition II ($KFII) used Item 1.01 for non-redemption agreements, and Rising Dragon ($RDAC) and Wintergreen ($WTG) for extension promissory notes.
• Sponsor parents: PMGC Holdings ($ELAB) filed its own Item 1.01 for its Nuclea Canada debenture subscription.

The screen also turned up a NYSE-listed SPAC with a non-North-American target, which falls outside this site's US and Canada coverage.

The other trap is the letter of intent: an LOI is a non-binding outline, not a signed merger contract. Inflection Point VI sent Quantum Space a first draft LOI on April 13, 2026 but signed the definitive agreement only on June 8, 2026, as our Quantum Space SPAC math and IPFX deal breakdown show. More on the What's On Finance homepage.

FAQ

Which SPACs announced business combinations from October 28 to November 3, 2026?

Within this site's US and Canada coverage, two: NorthStrive ($NSAI) with Nuclea Energy, and FG Imperii ($FGII) with tZERO.

Was Inflection Point VII's October 28, 2026 filing a new deal?

No. It reported an October 27 amendment to the business combination agreement with Elroy Air that the SPAC signed on June 26, 2026.

How can you tell a SPAC's IPO 8-K from a merger 8-K?

Check the items. IPO closings pair Item 1.01 with 3.02, 5.02 and 5.03 and describe units sold. A merger 8-K pairs Item 1.01 with a press release and names a target company and a valuation.

Where do you find a SPAC's trust value per share?

In the latest 10-Q balance sheet, where redeemable shares are carried "at redemption value," or in the IPO-closing 8-K for a newer SPAC.