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SPACSphere Acquisition Corp. (SSAC) received an amended Schedule 13G/A from Karpus Management, Inc., reporting its current passive ownership position in the company’s common stock.
Karpus, a registered investment adviser, reports beneficial ownership of 1,199,767 shares of common stock, representing 4.99% of the class. Karpus has sole voting and sole dispositive power over all reported shares, which are held in accounts it manages, and states that its ownership is at or below 5 percent of the class.
SPACSphere Acquisition Corp. is a Cayman Islands SPAC that has not yet begun operating activities and is focused on completing an initial business combination. On May 29, 2026, it entered into a Business Combination Agreement to merge Mobilewalla Holdco, Inc. into a wholly owned subsidiary, with Mobilewalla becoming a direct subsidiary of SPACSphere upon closing.
As of June 30, 2026, total assets were $175.4 million, including $174.9 million of cash and marketable securities in a trust account, largely funded by the February 9, 2026 IPO of 17,250,000 units at $10.00 per unit. For the six months ended June 30, 2026, SPACSphere reported net income of $1,335,802, driven by $2,396,125 of interest income on trust investments, offset by $1,060,323 of general and administrative expenses.
The company held only $229,394 in cash equivalents outside the trust and had a working capital deficit of $556,535. Management discloses that limited liquidity and an obligation to complete a business combination within 15 months of the IPO, or by May 9, 2027, with mandatory liquidation if unsuccessful, raise substantial doubt about its ability to continue as a going concern. Management plans to address this by completing the proposed Mobilewalla transaction or another business combination.
Mizuho Financial Group, Inc., a Japan-based parent holding company, reports beneficial ownership of common shares of SPACSphere Acquisition Corp. Mizuho reports holding 1,012,567 common shares, representing 5.5% of the class, with sole voting and sole dispositive power over these shares and no shared power. The filing states that Mizuho Financial Group, Inc., Mizuho Bank, Ltd. and Mizuho Americas LLC may be deemed indirect beneficial owners of equity securities directly held by Mizuho Securities USA LLC, their wholly owned subsidiary.
SPACSphere Acquisition Corp. (SSAC) filed an S-4 to register up to 52,553,887 shares of common stock and 8,764,733 warrants for issuance in its proposed business combination with Mobilewalla Holdco, Inc. SSAC will domesticate from the Cayman Islands to Delaware and be renamed Covariate, Inc.
Mobilewalla stockholders will receive shares based on an Exchange Ratio equal to 25,000,000 divided by Mobilewalla’s fully diluted shares, giving them 41.7%–65.0% of the combined company depending on redemptions, while public holders could fall from 35.9% ownership to 0%. Total shares outstanding would range from 48,090,033 (no redemptions) to 30,840,033 (maximum redemptions), and fully diluted from 77,294,157 to 55,688,369.
Public shareholders may redeem at about $10.14 per share (based on a $174.9 million trust as of March 31, 2026), subject to a 15% cap per group without consent. The filing notes there is no $5,000,001 net tangible asset closing condition, so if redemptions are high and no other exemption applies, the stock could be treated as a “penny stock”. A new equity plan will reserve 20% of fully diluted shares for management, plus additional shares for converted options, and significant sponsor and insider holdings will be subject to lock-up agreements.
Mobilewalla and SPACSphere (SSAC) present a public investor deck describing a strategy to commercialize vertical, agentic AI built on a decade of proprietary consumer behavioral data. The presentation positions horizontal foundation models as commoditized and argues value accrues to domain depth, longitudinal data, and agentic delivery, citing market estimates such as a $1T+ cumulative AI investment and an agentic AI market projected from $7.8B to $52B by 2030.
The company highlights a data moat (2B+ devices, 40+ countries, 10 years of history), four core products (Telescope, Market Flow, LendBetter, Consumer Data Platform), a multi-vertical playbook, and organic and inorganic growth levers ahead of a proposed business combination with SPACSphere. Forward-looking statements and customary SPAC/prospectus disclosures are included.
SPACSphere Acquisition Corp. (SSAC) and Mobilewalla agreed to a definitive business combination that would take Mobilewalla public through a SPAC merger. The transaction ascribes a $250 million pre-money equity value to Mobilewalla and contemplates approximately $172.5 million of cash held in SSAC’s trust at closing, based on trust value per share as of March 13, 2026.
The boards of both parties approved the deal and expect closing in the second half of 2026, subject to shareholder approvals and customary closing conditions. The combined company would be named Mobilewalla, Inc. and seek listing of common stock and public warrants on a U.S. national exchange. Parties anticipate an additional $10 million commitment from institutional investors affiliated with Mobilewalla.
SPACSphere Acquisition Corp. (SSAC) and Mobilewalla announced a definitive agreement to combine, which would make Mobilewalla a publicly traded company upon closing. The communication states the parties expect the transaction to close in the second half of 2026 and that a Registration Statement on Form S-4 will be filed with the SEC.
The message emphasizes Mobilewalla's product strength (a 94% retention rate), the need for capital to scale go-to-market and engineering, and directs inquiries to a designated email while noting all forward-looking statements and customary securities disclosures.
SPACSphere Acquisition Corp. and Mobilewalla Holdco, Inc. announced a proposed business combination under which Mobilewalla would become a Nasdaq‑listed public company upon closing. The proposed transaction values Mobilewalla at a pro forma enterprise value of $250 million. The parties say the SPAC route is intended to provide a faster capital‑raising path and liquidity for existing shareholders; closing remains subject to customary conditions, including shareholder approvals and regulatory clearances.
SPACSphere Acquisition Corp. (SSAC) and Mobilewalla announced a proposed business combination that would take Mobilewalla public and list it on a U.S. national exchange. The transaction values Mobilewalla at a pro forma enterprise value of $250 million and will be pursued through a Registration Statement on Form S-4, subject to shareholder and regulatory approvals.
The companies caution these are forward-looking statements and note completion depends on customary conditions, proxy processes, and SEC filings.
SPACSphere Acquisition Corp. and Mobilewalla announced a signed Business Combination Agreement to combine, which, if completed, will result in the combined company being named Mobilewalla and listed on a U.S. national exchange. The parties expect the transaction to complete in the second half of 2026, subject to stockholder approvals, regulatory reviews, and customary closing conditions.
The companies will file customary SEC materials including an Form S-4 and related proxy/prospectus and SSAC will file an Form 8-K. The communication reiterates customary forward-looking statement risks and advises stakeholders to review the Registration Statement and proxy materials when available.