The special purpose acquisition company (SPAC), which is led by former Dye & Durham CEO Matt Proud and CFO Avjit Kamboj, will issue 10 million units at US$10 each on the Toronto Stock Exchange, with the option to increase the offering to US$110 million. Once public, MAK will seek to acquire companies in tech-enabled services, space and defense sectors. (The Logic)

Talking point: SPACs have been making a global comeback this year, as companies seek an alternative path to public markets while IPOs have been slow. The first half of 2025 marked the busiest year for SPAC IPOs since the 2021 boom. The overall quality of SPAC issuers has improved, Beau Bohm, global co-head of equity capital markets at Cantor Fitzgerald, told Bloomberg in July, and better stock performance among companies that have gone public through SPACs has helped drive the recovery.