Methodology

Universe. Chairs are Nasdaq- and NYSE-listed SPAC rights only. A name without a listed right has no chair.

1/n. Conversion comes from the S-1, 424B, or S-4/F-4 text — one-fifth, one-seventh, and the rest. We never invent 1/10.

Rooms. Pulse walks EDGAR in filing order. 8-K 1.01 with a DA tell seats Post-DA. S-4 or F-4 — including a merger-sub or target CIK — seats S-4. DEFM14A seats Effective. Liquidation and termination leave the floor.

Tape. Last, bid, and ask are Nasdaq last sale and Yahoo where the book answers. After hours, last sale is the tape. During the session, a new print rewrites the row.

Edge. Fair is trust / n. Edge is last versus that fair. The number is a desk mark, not a recommendation.

Today. Historical chairs come from each CIK’s recent EDGAR book (enough for a SPAC’s life). Weekdays 6:00–17:00 ET, the desk searches what filed today and reseats anyone who moved — hourly, including merger-sub S-4/F-4.