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Financials SPAC Soulpower Acquisition files for a $200 million IPO

January 24, 2025

Soulpower Acquisition, a blank check company targeting businesses in insurance services and retirement savings, filed on Friday with the SEC to raise up to $200 million in an initial public offering.

The New York, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

Soulpower Acquisition is led by CEO and Chairman Justin Lafazan, the founder and former CEO of tech firm Nex Gen HQ. The SPAC plans to target businesses operating within the category of insurance services, retirement savings, and other related financial services.

Soulpower Acquisition was founded in 2024 and plans to list on the NYSE under the symbol SOULU. Cantor Fitzgerald is the sole bookrunner on the deal.