Recent Updates — SPKL

Spark I Acquisition Corporation shareholders approved an extension of the deadline to consummate a business combination from September 29, 2026, to March 29, 2027. The Sponsor agreed to deposit $0.015 per public share into the trust account as a loan, up to approximately $201,304, and issued a promissory note for up to $400,000. Additionally, the Company will make a one-time contribution of $0.10 per non-redeemed public share on October 5, 2026, increasing the redemption price from approximately $10.92 per share. This SPAC is focused on completing an initial business combination with ZincFive, Inc.

Spark I Acquisition Corporation entered into a definitive merger agreement on June 11, 2026, to combine with ZincFive, Inc. in a business combination expected to close in the second half of 2026. The transaction assigns an equity value of $600,000,000 to ZincFive. As part of the deal, Spark I will domesticate from the Cayman Islands to Delaware and change its name to ZincFive, Inc. Concurrently, institutional investors agreed to purchase 10,441,174 shares of New ZincFive 12.0% Series A Cumulative Convertible Preferred Stock for $106.5 million. The merger is subject to shareholder approval, regulatory clearances, and other customary closing conditions. Spark I Acquisition Corporation is a special purpose acquisition company (SPAC) seeking to merge with a target company.