Spark I Acquisition Corp（SPKL）のニュースとイベントSPKLSpark I Acquisition Corp

ZincFive Submits S-4 Form to Advance Business Combination

ZincFive announced the confidential submission of a draft registration statement on Form S-4 with the U.S. Securities and Exchange Commission in connection with their previously announced proposed business combination. The submission of the Registration Statement marks an important milestone toward the completion of the proposed Business Combination, which will result in ZincFive becoming a publicly traded company. The Business Combination remains subject to approval by SPKL shareholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions. The Business Combination is expected to close in the fourth quarter of 2026.

ZincFive Enters Merger Agreement with Spark I, Valued at Approximately $752M

ZincFive has entered into a definitive business combination agreement with Spark I Acquisition Corporation. This proposed transaction represents a pro forma enterprise value of approximately $752M and, upon completion, is expected to result in ZincFive becoming a Nasdaq-listed company under the ticker symbol ZFIV and under the name "ZincFive, Inc." ZincFive's proprietary, patented nickel-zinc platform delivers superior safety, higher power density, a smaller footprint, and lower total cost of ownership, without the tradeoffs associated with lead-acid and lithium-ion batteries. ZincFive's products eliminate thermal runaway risk while limiting cooling requirements, reducing installation costs, and enabling a more sustainable, recyclable power architecture for data centers. ZincFive believes their technology is positioned to address the accelerating build-out of global data center markets and the emerging need for short-duration, high-power solutions for advanced AI infrastructure designs. ZincFive has already achieved commercial scale, with nearly 2 gigawatts of systems deployed and contracted globally and annual revenue doubling from 2024 to approximately $66.9M in 2025. ZincFive's approximately $81M backlog as of December 31, 2025 reflects accelerating demand in data centers where ZincFive's products deliver immediate, repeatable high-power response without compromising safety, reliability, or operating economics. ZincFive recently launched a comprehensive energy storage solution engineered to support both outage duration backup functionality and real-time AI dynamic power loads, positioning the Company at the forefront of next-generation data center power infrastructure. The proposed Business Combination is expected to deliver gross proceeds of at least $100M from a committed PIPE, which fully satisfies the BCA's minimum cash condition, and up to $25M in additional proceeds depending on redemptions. Existing ZincFive shareholders are expected to roll 100% of their equity into the combined public company. ZincFive has entered into a $35M bridge loan facility of which $28.5M is expected to be repaid at the closing of the Transaction. Net proceeds from the transaction will be used to fund ZincFive's growth investments, commercial deployment, and build-out of U.S. manufacturing. The Boards of Directors of both ZincFive and Spark I have unanimously approved the proposed Transaction, which is expected to close in the second half of 2026, subject to customary closing conditions, including approval by Spark I shareholders and regulatory review.