Soulpower Acquisition Corporation(NYSE) SOUL

Soulpower Acquisition Corporation finds private businesses to take public. It acts as a shell company for future mergers. The firm has no active operations yet.

The SPAC Tool Kit

• Business Combinations: Searching for one or more entities to merge with or acquire.
• Trust Account Capital: Holding $250 million from its initial public offering to fund future acquisitions.
• Digital Banking Focus: Seeking to operate an international financial institution through its proposed business combination.

Moving Toward Digital Banking

• Signed a merger agreement with SWB LLC on Nov. 24, 2025.
• Secured $745,000 in advances under a promissory note as of June 30, 2026.
• Issued an additional $2.5 million promissory note in May 2026 to support working capital.
• Formed a new holding structure called SWB Holdings to facilitate its transition to a digital bank.

Why the Structure Matters

Soulpower operates as a Special Purpose Acquisition Company, or SPAC. This structure allows it to raise money through an initial public offering before identifying a specific business to purchase.

Interest and Income Highlights

• Net income reached $3.5 million for the six months ended June 30, 2026.
• Cash held in the Trust Account totaled $262.2 million as of June 30, 2026.
• Interest earned on trust cash was $4.6 million for the six months ended June 30, 2026.
• Market cap was $265.2 million in Q2 2026, down 20.8% year over year.
• Operating costs were $1.0 million for the six months ended June 30, 2026.

Future Evolution

Soulpower is a specialized investment vehicle moving toward a merger in the digital banking sector. Its future depends on completing its acquisition of Soul World Bank by April 3, 2027.