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Examples of available listed shell companies for reverse mergers - as of September 2025

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Available listed shell companies (as of September 2025)

For high-quality NASDAQ and off-market shells available for M&A (at the end of this page) click right here >>

This list provides extended examples of publicly listed “shell” companies that could be available for reverse mergers (or De-SPAC transactions) in the U.S. (depending on whether a reverse merger has already been completed in the meantime or not). The details are illustrative and may vary significantly depending on market conditions.

  • Type: OTC Pink Shell (simple)
    Price: $350,000
    Shares/Status: 900M authorized, 123.7M outstanding, 55M tradable
    Control: 30M common shares transferable
    Note: Basic shell for initial entry into the public market.

  • Type: SEC-Reporting Shell (simple)
    Price: $170,000
    Shares/Status: Clean, debt-free, PCAOB-audited, DTC-eligible
    Control: Control stake available
    Note: Ideal for companies seeking higher transparency and tradability.

  • Type: OTC Public Shell (with revenue)
    Price: N/A (price upon request)
    Shares/Status: Fully clean, DWAC-eligible (Direct Registration System), some revenues present
    Control: 100% control option
    Note: Existing revenues can make the acquisition more attractive.

  • Type: Fully Reporting S-1 Shell (registered)
    Price: Not disclosed
    Shares/Status: S-1 filed (registration statement), debt-free
    Control: >90% control available
    Note: High compliance level, positioned for faster NASDAQ/NYSE listing.

  • Type: Clean S-1 Shell with Established Board
    Price: $1,200,000 – $1,800,000
    Shares/Status: S-1 registered, no legacy issues, experienced Board of Directors in place
    Control: 80% voting control
    Note: Higher price due to readiness and existing management.

  • Type: OTCQB Ready Shell
    Price: $450,000
    Shares/Status: Ready to move to OTCQB, 500M authorized, 80M outstanding, low float
    Control: Majority stake
    Note: More attractive than Pink Sheets due to higher transparency requirements.

  • Type: De-SPAC Target Shell (with residual cash)
    Price: $5,000,000 – $10,000,000 (often includes residual trust capital)
    Shares/Status: Former SPAC with remaining trust capital and existing shareholder base
    Control: Control package to steer the transaction
    Note: More complex due to existing shareholder base and SPAC regulations.

  • Type: Biomedical / Biotech Focused Shell
    Price: $750,000 – $1,500,000
    Shares/Status: SEC-reporting, clean, often with historical assets or IP rights (expired or low-value) in biopharma
    Control: Full control
    Note: Tailored for life-sciences companies.

  • Type: Technology Shell (Clean & Aged)
    Price: $600,000
    Shares/Status: Older but clean shell, originally formed for a technology startup, DTC-eligible
    Control: Majority block
    Note: An “aged” status can be advantageous for certain listing requirements.

  • Type: International Holding Shell (U.S.-listed)
    Price: $900,000 – $1,300,000
    Shares/Status: Clean SEC-reporting shell, originally structured for an international holding
    Control: Control package with voting rights
    Note: Suitable for non-U.S. companies seeking U.S. market access.

  • Type: Shell with Low Float and Low Market Cap
    Price: $250,000
    Shares/Status: OTC Pink, very few outstanding and tradable shares, low market cap
    Control: 100% control (over 90% of outstanding shares)
    Note: Offers maximum control and flexibility for post-acquisition capital structure.

  • Type: Fully Reporting Shell with Cash Balance
    Price: $1,500,000 – $2,500,000 (plus cash amount)
    Shares/Status: SEC-reporting, clean, with a small cash balance on the balance sheet
    Control: Control stake
    Note: Existing cash can cover shell operating costs or serve as initial working capital.

  • Type: NASDAQ/NYSE Direct Listing Target Shell
    Price: $2,000,000 – $5,000,000
    Shares/Status: Ex-SPAC or fully reporting shell with all prerequisites for a rapid NASDAQ/NYSE listing
    Control: Subject to negotiation, often with existing investor base
    Note: Top end of the shell market, nearly ready for senior exchanges.



High-Quality NASDAQ and Off-Market Shells:

A concise dual list of (A) NASDAQ SPACs (SEC-reporting, active/newly listed – ideal “de-facto shells” for De-SPAC) and (B) willing public shells (listings/off-market leads with SEC-reporting linkage). Provided bilingually (DE/EN) and with sources:

A) NASDAQ SPACs (current/newly listed units – SEC-reporting)

These SPACs are listed on NASDAQ (Units) and are seeking targets or were just issued. Each position is a good starting point for reverse-merger/De-SPAC discussions – always verify status via EDGAR and the respective S-1 / 10-Q / 8-K.

DE: SPAC (Ticker Unit) — EN: SPAC (Ticker Unit) — Börse / Exchange — Kurzinfo (DE) — Brief (EN)

  • I (OTGAU) — I (OTGAU) — NASDAQ — $200 Mio. IPO-Units, Pricing und NASDAQ-Trading angekündigt. — $200M units; priced with NASDAQ listing noted.

  • Talon Capital Corp. (TLNCU) — Talon Capital Corp. (TLNCU) — NASDAQ — $225 Mio. Units; Pricing 9. Sept. 2025. — $225M units; priced Sep 9, 2025.

  • Spring Valley Acquisition Corp. III (SVACU) — Spring Valley Acquisition Corp. III (SVACU) — NASDAQ — $200 Mio. Units; Pricing 4. Sept. 2025. — $200M units; priced Sep 4, 2025.

  • GSR IV Acquisition Corp. (GSRFU) — GSR IV Acquisition Corp. (GSRFU) — NASDAQ — $200 Mio. Units; Pricing 4. Sept. 2025. — $200M units; priced Sep 4, 2025.

  • M3-Brigade Acquisition VI Corp. (MBVIU) — M3-Brigade Acquisition VI Corp. (MBVIU) — NASDAQ — $300 Mio. Units; Pricing 27. Aug. 2025. — $300M units; priced Aug 27, 2025.

  • CSLM Digital Asset Acquisition Corp. III (KOYNU) — CSLM Digital Asset Acquisition Corp. III (KOYNU) — NASDAQ — $200 Mio. Units; Pricing 27. Aug. 2025. — $200M units; priced Aug 27, 2025.

  • Galata Acquisition Corp. II (LATAU) — Galata Acquisition Corp. II (LATAU) — NASDAQ — $150 Mio. Units; Pricing Meldung 18. Sept. 2025. — $150M units; pricing post Sep 18, 2025.

  • Chenghe Acquisition III Co. (CHECU) — Chenghe Acquisition III Co. (CHECU) — NASDAQ — $110 Mio. Units; Pricing Meldung 16. Sept. 2025. — $110M units; pricing post Sep 16, 2025.

B) Willing Public Shells (Listings / Off-Market Leads)

Reality: “Pure NASDAQ shells” are rarely sold openly. Publicly listed leads are usually OTC / fully SEC-reporting and may be developed into a NASDAQ path (depending on free float, governance, price, market cap, etc.). DD is mandatory.

DE: Lead / Beschreibung — EN: Lead / Description — Type — Kurzkommentar (DE) — Brief (EN)

  • „SEC Reporting Company – Public Shells“ — “SEC Reporting Company – Public Shells” — Listing — Voll-SEC-reporting, DTC eligible, „clean/compliant“ (Eigenangabe). Details per NDA. — Full SEC-reporting, DTC; seller claims clean shell.

  • „SEC Reporting Pink – non-shell, DTC/DWAC“ — “SEC Reporting Pink – non-shell, DTC/DWAC” — Listing — SEC-reporting Pink; 95% „delivery“, aktuell in Filings. OTC-Kontext; Eignung für Up-list prüfen. — SEC-reporting Pink; current in filings; check uplist path.

  • „NASDAQ Shell Company for Sale“ (InterLotto-Inserat) — “NASDAQ Shell Company for Sale” (InterLotto listing) — Listing — Älteres GlobalBX-Inserat; Angaben kritisch prüfen (häufig OTC/Legacy). — Older listing; verify claims (often OTC/legacy).

  • GlobalBX – Public Shell Companies (Sammelseite) — GlobalBX – Public Shell Companies (Index) — Portal — Diverse Shell-Angebote (teils OTCBB). Preisrahmen teils genannt. — Various shells (some OTCBB).

  • DealStream – Public Shells & Wanted — DealStream – Public Shells & Wanted — Portal — Laufende Listings/Gesuche; Filter auf SEC-Reporting & „clean history“. — Ongoing listings; filter for SEC-reporting.

Sources:

C) NASDAQ SPACs / Units in the U.S. Market

These SPACs are active/new offerings or listed, issuing units that are traded or expected to trade on NASDAQ:

SPAC / Unit Ticker — Brief Info — Exchange / Status

  • OTG Acquisition Corp. I (OTGAU) — Planned: units IPO, NASDAQ Global Market, 20 million units at $10. — NASDAQ (planned)

  • Trailblazer Acquisition Corp (BLZRU) — Units IPO, $240M offering; technology focus. — NASDAQ

  • Cantor Equity Partners IV (CEPF) — $400M offering, multi-industry. — NASDAQ

  • Galata Acquisition Corp. II (LATAU) — $150M units IPO, offering in progress. — NASDAQ

  • Chenghe Acquisition III Co. (CHECU) — Units offering, NASDAQ Global Market. — NASDAQ

These are good candidates if one wishes to evaluate units-SPACs directly in the U.S. for potential De-SPAC or shell use.

D) U.S. SPACs / Units – Newly Listed / Just Listed

These SPACs have units, are NASDAQ-listed or have announced listings:

Name (Ticker) — Size / Volume — Start Date / Listing — Sector / Focus — Why Relevant

  • OTG Acquisition Corp. I (OTGAU) — approx. $200M via units (with option) — Begins trading on NASDAQ Global Market on September 12, 2025 under “OTGAU” IPOX+2 Lowenstein Sandler+2 — Digital Infrastructure Services, Communications, Data Centers etc. IPOX+1 — Newly listed SPAC, clean structure: units, NASDAQ, strong bookrunners – a good candidate for discussions.

  • Trailblazer Acquisition Corp (BLZRU) — $240M in units — Pricing Sep 9, 2025; trading on NASDAQ from Sep 10 IPOX+2 listingtrack.io+2 — Technology focus IPOX — New, with clear structure; channelable as shell/De-SPAC partner.

  • Cantor Equity Partners IV (CEPF) — $400M in IPO units — Listing planned / executed late August 2025 on NASDAQ IPOX+1 — Versatile: finance, software, technology etc. IPOX — Large capital base makes it attractive as shell/partner.

  • Galata Acquisition Corp. II (LATAU) — $150M — Units priced (IPO pricing), NASDAQ trading from Sep 19, 2025 under “LATAU” SPACInsider+1 — General SPAC with open search profile IPOX+1 — Relatively newly listed, good governance visible, participants active.

  • Chenghe Acquisition III Co. (CHECU) — $110M IPO units — Units trading from approx. Sep 16, 2025 on NASDAQ (“CHECU”) SPACInsider+1 — Open target, likely technology-oriented etc. IPOX — Attractive due to recency and clear positioning.