Business Combination

Integrated Rail and Resources Acquisition Corp (IRRX) announced that sponsor DHIP Natural Resources Investments will extend its business‑combination deadline from December 15, 2025 to January 15, 2026, adding a 31‑day window. The SPAC remains focused on natural resources, railroads, and railroad logistics, with any securities offerings complying with the Securities Act and Rule 135. The extension provides more time to secure a suitable target amid evolving logistics and energy markets, but also prolongs shareholder uncertainty and the risk of liquidation if a deal is not completed.

Westin Acquisition Corp (WSTN) priced its $50 million IPO of 5,000,000 units at $10.00 per unit, each containing one Class A share and a right to 1/6 of a share. Trading on Nasdaq under WSTNU is expected to begin November 4, 2025, with closing anticipated November 5, 2025. Underwriters have a 45-day option to purchase up to 750,000 additional units. A.G.P./Alliance Global Partners is the sole book-running manager.

Harvard Ave Acquisition Corporation (HAVAU) closed its $145 million IPO, offering 14,500,000 units at $10.00 each. Units, trading on Nasdaq under HAVAU since October 23, 2025, consist of Class A ordinary shares and rights, expected to list as HAVA and HAVAR, respectively. The Cayman Islands-based SPAC, managed by D. Boral Capital, will pursue a business combination. Investors should note the risks inherent in SPACs, including target selection and regulatory scrutiny.

GSR IV Acquisition Corp. (GSRF) has closed its $230 million IPO, including the full exercise of the over-allotment option. The offering consisted of 23 million units at $10.00 each. Each unit includes one Class A ordinary share and one-seventh of a right, convertible into shares upon a business combination. Units trade on Nasdaq under “GSRFU,” with shares and rights to follow under “GSRF” and “GSRFR.” Polaris Advisory Partners and The Benchmark Company were joint bookrunners; the latter acting as qualified independent underwriter. GSRF is a blank check company seeking a merger target.

Relief Therapeutics will merge with NeuroX, the successor to MindMaze, in a deal valuing Relief at CHF 100M and NeuroX at CHF 1B. Relief shareholders will own approximately 9% of the combined entity, focused on AI-based digital neurotherapeutics. NeuroX, which acquired MindMaze’s assets, brings a clinically validated platform with over $350M invested. The transaction is expected to close in Q4 2025, pending approvals and customary conditions. The merger aims to create a publicly listed, AI-driven health tech enterprise.