Monitor for the IPO effective date and trading commencement (symbols IPVVU for units, IPVV for shares, IPVVW for warrants). Post-IPO, track for any 8-K announcing a target business combination or a deadline extension vote. The SPAC has a 24-month search window — no catalyst until a target is identified.
Executive Summary
InterPrivate Investment Partners V (IPV) filed Amendment No. 2 to its S-1 for a $175 million SPAC IPO, offering 17.5 million units at $10.00 each. This is a standard blank-check company IPO with no target identified; proceeds will go into a trust account for a future business combination within 24 months. The filing is routine and administrative; no material new financial or strategic information was added.
Key Financial Metrics
Key Facts
- Offering 17,500,000 units at $10.00 per unit ($175,000,000 gross proceeds).
- Each unit consists of one Class A ordinary share and one-third of one redeemable warrant ($11.50 exercise price).
- Underwriters have a 45-day option to purchase up to an additional 2,625,000 units.
- $175,000,000 of proceeds will be deposited into a trust account until a business combination or liquidation.
- Sponsor and underwriters committed to purchase 540,000 private placement units at $10.00 each ($5,400,000).
- 24-month period to complete an initial business combination (extendable by shareholder vote without additional deposit).
- No target selected and no substantive discussions initiated with any target.
- Auditor's report includes a going concern explanatory paragraph due to pre-offering working capital deficit.
Financial Impact
$175,000,000 gross IPO proceeds; $168,000,000 net trust proceeds after underwriting fees and expenses (assuming no over-allotment exercised); $5,400,000 gross private placement proceeds from sponsor and underwriters
Risk Factors
- No target selected; risk of failing to consummate a business combination within 24 months, leading to trust liquidation at ~$10.00/share.
- Founder shares purchased at $0.005/share create misaligned incentives — sponsor may pursue risky deals to avoid loss.
- Potential Investment Company Act risk if trust assets are held in treasury/money market funds for an extended period.
- 94% redemption rate on a prior InterPrivate SPAC (Getaround) and two liquidations from four prior SPACs signal execution risk.
- POST-IPO: Go-concern warning in auditor's report before offering highlights pre-offering capital constraints.
Documents Analyzed
This report is based on 2 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-1/A Filing (Primary) | 0001213900-26-061612 |
| Document: ea027420606ex1-1.htm | 0001213900-26-061612 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 4, 2026 20w ago | EFFECT | — | awaiting T+20 | — | — |
Jun 3, 2026 20w ago | 3 | — | awaiting T+20 | — | — |
Jun 3, 2026 20w ago | 3 | — | awaiting T+20 | — | — |
May 27, 2026 21w ago | S-1/A | — | awaiting T+20 | — | — |
US Market Status
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