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Expert analysis on IPO strategy, SPAC transactions, public-market investing, and cross-border listing strategy from the Luminark Holdings team.

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Breaking · Market Intelligence Aug 22, 2026 · 6 min read

Goldman Sachs Discloses Stakes in QuasarEdge and GalaxyEdge

A Form 3 filed May 26, 2026 shows Goldman Sachs crossing 10% ownership of QuasarEdge (NYSE: QRED) — 1,476,550 shares, effective May 15. A Schedule 13G filed August 12 discloses 1,156,252 GalaxyEdge (NYSE: GLED) shares, 7.2% of the class. Both figures verified directly against SEC EDGAR.

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02 Goldman Sachs Discloses Stakes in QuasarEdge and GalaxyEdge Form 3 (May 26) shows Goldman Sachs crossing 10% of QuasarEdge (QRED) — 1,476,550 shares, effective May 15. Schedule 13G (Aug 12) discloses 1,156,252 GalaxyEdge (GLED) shares, 7.2% of class. Verified against the primary SEC filings. Market Intelligence Aug 22, 2026

03 OceanLight Announces $1 Billion Merger with AIRE Inc. Definitive merger agreement signed September 28, 2026 with AIRE Inc., a home textile and green sleep technology company, on a $1.0 billion Company Net Value basis. Surviving entity: AIRE Global Group Inc. Transactions Sep 28, 2026

04 FutureWave Announces $400M Merger with Olympian Group Definitive merger agreement signed September 28, 2026 with Olympian Group Inc., a Hong Kong electronic component supply-chain company, at a $400M post-money valuation — 40,000,000 shares at $10.00. Transactions Sep 28, 2026

05 FutureCore Acquisition Corp — $75M Nasdaq IPO Registration Filed (FTCRU) Filed a public S-1 on September 11, 2026 proposing a $75,000,000 Nasdaq Capital Market offering — 7,500,000 units at $10.00 — under the expected symbol FTCRU. Polaris Advisory Partners sole book-runner. Not yet priced. SPAC & IPO Sep 11, 2026

06 OceanLight Acquisition Corp — $115M Nasdaq IPO Closed, Units Trading as OCLTU Priced August 7, 2026 at $100,000,000 — 10,000,000 units at $10.00 — and closed August 10 at $115,000,000 with the over-allotment exercised in full — 11,500,000 units. Units trade on Nasdaq as OCLTU. Polaris Advisory Partners sole book-runner. SPAC & IPO Aug 10, 2026

07 Pelican Acquisition II Corp — $75M Nasdaq IPO Priced, Units Trading as PLCIU Priced July 23, 2026 at $75,000,000 — 7,500,000 units at $10.00, sole book-run by EarlyBirdCapital. Rights-only units convert at 1/10 with no warrant component. Units trade as PLCIU; closing expected July 27. SPAC & IPO Jul 25, 2026

08 FutureWave Acquisition Corp — $86.25M Nasdaq IPO Closed, Units Trading as FWACU Priced June 25, 2026 at $75,000,000 and closed June 26 at $86,250,000 with the over-allotment exercised in full — 8,625,000 units. Units trade on Nasdaq as FWACU, separating into FWAC, FWACR and FWACW. Polaris Advisory Partners sole book-runner. SPAC & IPO Jun 25, 2026

09 FutureWave Acquisition Corp — $86.25M Nasdaq SPAC IPO Closed, Rights + Warrant Units FutureWave Acquisition Corp (FWACU) closed its $86.25M Nasdaq IPO on June 26, 2026 after three S-1 amendments in 29 days. A close read of its rights-plus-warrant unit structure and the Polaris Advisory Partners underwriting relationship shared across the Luminark portfolio. SPAC & IPO Jun 22, 2026

10 QuasarEdge Announces $1 Billion Merger with Robseek Intelligence QuasarEdge Acquisition Corp (NYSE: QRED) enters into a definitive merger agreement with Robseek Intelligence Inc., an AI advertising platform, at a pre-money equity valuation of approximately $1 billion — the largest de-SPAC announcement in the Luminark portfolio to date. SPAC & IPO Jun 9, 2026

11 GalaxyEdge Announces $350M De-SPAC Merger with Rongcheng Group GalaxyEdge Acquisition Corp (NYSE: GLED) signs a definitive merger agreement with Rongcheng Group Limited, a Hong Kong-based integrated waste sorting service provider, at a $350M pre-money equity valuation — 56 days after IPO close. SPAC & IPO May 1, 2026

12 QuasarEdge Acquisition Corp NYSE SPAC IPO — $115M Offering Overview QuasarEdge Acquisition Corp (QREDU/QRED/QREDR) completed its $115M NYSE IPO in April 2026. A detailed overview of the offering terms, trust structure, acquisition strategy, and SEC filing timeline. SPAC & IPO Apr 16, 2026

13 GalaxyEdge Acquisition Corp — $115M NYSE IPO, Rights Units & the 15+3 Extension GalaxyEdge Acquisition Corp (GLEDU/GLED/GLEDR) raised $115M on the NYSE in March 2026 — 141 days from first SEC filing to funded trust. A close look at its rights-based unit structure, two-tranche sponsor placement, and the 15+3 extension mechanism. SPAC & IPO Mar 6, 2026

14 Pelican Acquisition II Corp — $86.25M Nasdaq SPAC, Rights-Only Units, No Warrants Pelican Acquisition II Corp (PLCIU) proposes a $86.25M Nasdaq IPO with rights-only units — 1/10 share conversion and no warrant component at all. EarlyBirdCapital serves as underwriter. A structural comparison against the rest of the 2026 SPAC cohort. SPAC & IPO Jun 22, 2026

15 Albatross Acquisition Corp — $115M NYSE SPAC, Rights + Warrant Units Albatross Acquisition Corp (ATACU) filed its initial S-1 on June 17, 2026, proposing a $115M NYSE SPAC IPO. Rights-plus-warrant units, Polaris Advisory Partners underwriting, Celine and Partners counsel — and no amendment filed yet. SPAC & IPO Jun 22, 2026

16 OceanLight Acquisition Corp — $115M Nasdaq SPAC, Rights + Warrant Units OceanLight Acquisition Corp (OCLTU) filed its S-1 on June 16 and amended it two days later — one of the fastest S-1 to amendment turnarounds in the portfolio. Proposes a $115M Nasdaq IPO with a rights-plus-warrant unit structure and Polaris Advisory Partners underwriting. SPAC & IPO Jun 22, 2026

17 Inside a De-SPAC Transaction — Mechanics, Structure, and What Post-2024 Regulation Changed A step-by-step walkthrough of how a de-SPAC transaction works from LOI to exchange listing, with the SEC's post-2024 rule changes integrated at each stage. Covers co-registrant liability, projection standards, PIPE closing, trust release, and post-close obligations. Transactions May 20, 2026

18 The Real Timeline of Going Public — IPO, SPAC, and Reverse Merger Compared Milestone-by-milestone comparison of going-public timelines for traditional IPOs, SPAC mergers, and reverse mergers. Covers what actually drives delays — SEC comment rounds, auditor capacity, governance build-out — and what management teams consistently underestimate. Transactions May 5, 2026

19 The SPAC Market in 2025–2026 — A Recovery Grounded in Structural Reform 144 SPAC IPOs in 2025 raised $26.86–$30.4 billion, a 2.5x increase over 2024. Who is driving the recovery, what the redemption rate data shows about deal quality, and the outlook for the remainder of 2026. SPAC & IPO Apr 10, 2026

20 The SEC's 2024 SPAC Rules — What Every Issuer Needs to Know Before Choosing a Listing Path Release No. 33-11265 eliminated the PSLRA safe harbor, introduced co-registrant liability for target company officers and directors, and imposed a 20-day shareholder notice period. A practical guide to what changed and what it means for your listing decision. SPAC & IPO Mar 15, 2026

21 Asian Companies and the U.S. Public Markets — Listing Pathways, Regulatory Hurdles, and What Has Changed 286 Chinese companies listed on U.S. exchanges carry $1.1 trillion in market cap. A guide to PCAOB inspection restoration, HFCAA delisting risk, VIE disclosure requirements, FPI election, and the December 2025 Nasdaq anti-manipulation rule for cross-border issuers. Capital Markets Feb 20, 2026

22 Nasdaq's Discretionary Listing Authority — What the December 2025 Anti-Manipulation Rule Means for Issuers Nasdaq now has authority to deny listings even when all technical standards are met. What triggered the rule, what factors the exchange evaluates, how issuers should prepare, and how this compares to NYSE's approach. Capital Markets Jan 28, 2026

23 How to Prepare Your Company for a U.S. Public Listing in 2026 Going public in 2026 demands more than strong financials. Companies must navigate evolving SEC requirements, demonstrate institutional-grade governance, and build a capital structure that supports long-term public market participation. Capital Markets Jan 21, 2026

13 Building the Right Transaction Infrastructure Before Going Public The companies that go public successfully don't just have good financials. They have the right infrastructure in place to support the transaction and the ongoing demands of being a public company. Transactions Jan 19, 2026

14 Risk Management Best Practices Before a Public Market Transaction Public market transactions require disciplined risk identification and mitigation. Companies that proactively address regulatory, financial, market, and operational risks before listing achieve better outcomes. Risk & Compliance Jan 16, 2026

15 Using Capital Markets Data to Inform Listing Decisions Data-driven listing decisions outperform gut-feel decisions. Learn how to use IPO market data, comparable analysis, and capital markets intelligence to choose the right transaction structure. Market Intelligence Jan 13, 2026

12 Why Market Intelligence Is Critical Before a Public Listing Companies that go public without comprehensive market intelligence are navigating blind. Competitor analysis, investor sentiment tracking, and sector trend monitoring are essential inputs to a successful listing. Market Intelligence Jan 6, 2026

13 SEC Cybersecurity Disclosure Rules — What Every Pre-IPO Company Must Know A practical guide to SEC Rule 33-11216: the 4-business-day incident disclosure requirement, annual Form 10-K Item 1C obligations, and the cybersecurity governance framework companies must build before filing an S-1. Risk & Compliance Feb 12, 2026

14 Reading the SPAC Aftermarket — Deal Signals That Shape Listing Strategy NAV spreads, PIPE pricing, redemption rates, and extension activity all transmit real-time signals about institutional appetite. How to read the SPAC aftermarket before choosing your listing structure. Market Intelligence Apr 28, 2026

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