Abony Acquisition Corp. I (AACO)

Price$9.97Cached quoteAs of 2026-09-06 04:23 UTC

AI: Undervalued

Shares trade below last reported trust valueThe last reliable AACO quote was $10.00 on September 16, versus a June 30 reported redemption value of about $10.12 per public share.

Abony held $232.872 million in trust for 23.0 million redeemable public shares at June 30, 2026, explicitly reported as $10.12 per share. That puts the $10.00 quote about 1.2% below the last reported trust value, before subsequent interest accrual. Public holders can redeem for their pro-rata trust amount, including interest but net of applicable taxes, in connection with a business combination or liquidation. Creditor claims and taxes remain risks, so the trust value is not an unconditional guarantee.

No target yet; liquidation deadline is February 20, 2028The latest SEC quarterly filing still reported no selected business-combination target and no substantive target discussions.

AACO has a 24-month completion window from its February 20, 2026 IPO closing, implying a February 20, 2028 deadline unless shareholders amend the terms or the board approves an earlier liquidation date. The August 11 filing also reported no subsequent event requiring disclosure. Live searches through September 17 found no later announced merger, definitive agreement, LOI, cancellation or liquidation. Until a deal appears, value is primarily the trust/redemption claim rather than an operating-business valuation.

Structure creates meaningful sponsor and warrant dilutionThe IPO sold 23.0 million $10 units, each containing one Class A share plus one-third of a redeemable warrant exercisable at $11.50.

The IPO therefore created 7,666,667 public warrants. Another 695,000 private-placement units issued to the sponsor and BTIG contain 231,667 additional warrants. The sponsor also holds 7,666,667 founder Class B shares, equal to one-third of the 23.0 million public-share count and 25% of public-plus-founder shares before private units. Those founder shares generally convert one-for-one and have an anti-dilution adjustment tied to certain deal financings. This promote plus warrants can materially dilute public holders after a successful de-SPAC.

Redemption protection is attractive, but liquidity and post-deal risks matterAACO has traded close to trust with intermittent, sometimes very small-volume prints, making quoted prices potentially stale.

Separate trading of AACO shares and AACOW warrants began in April, while AACOU units continued trading. Buying AACO alone does not include the unit's one-third warrant. Sparse trading can produce poor price discovery or wider effective spreads. If a merger is completed, $8.05 million of deferred underwriting compensation is also payable from the trust, and additional financing, redemptions, founder-share conversion and warrant exercises can change the post-merger capital structure substantially. The undervaluation verdict therefore refers to the pre-deal trust/redemption comparison, not to the unknown future target.

AI: News

August 11: Q2 filing confirms $232.9 million trust and no targetAACO's latest material SEC filing reported $232.872 million of trust investments, or about $10.12 per redeemable public share, at June 30.

The SPAC said it had not selected a specific target or engaged in substantive target discussions and had generated no operating revenue. It reported $1.174 million of cash outside the trust and no working-capital loans outstanding. The filing's subsequent-events review identified nothing requiring additional disclosure through issuance.

April 8: AACO shares and AACOW warrants became separately tradableThe company announced that holders could separate IPO units into Class A shares and warrants beginning on or about April 13, 2026.

Unseparated units continue under AACOU, Class A shares trade as AACO and warrants as AACOW. Each original unit contains one share and one-third warrant, with only whole warrants trading. The announcement reiterated that Abony remained a blank-check company seeking a business combination rather than an operating enterprise.

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Revenue

No reported data

Net income

No reported data

Free cash flow

No reported data

Total cash / debt

CashTotal debt

2025

Financial statements

No annual filing data is available.

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Owners

Reported shareholders

Reference date Jun 30, 2026

Reported holdings Number of shares

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Top 20 reported holders of AACO
Holder	Shares held
Magnetar Financial LLC	1.95M
ADAGE CAPITAL PARTNERS GP, L.L.C.	1.8M
Linden Advisors LP	1.35M
AQR Arbitrage LLC	1.03M
Polar Asset Management Partners Inc.	1M
Mint Tower Capital Management B.V.	900K
Kryger Capital LLC	839.96K
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND	800K
MILLENNIUM MANAGEMENT LLC	726K
TENOR CAPITAL MANAGEMENT Co., L.P.	713.28K
Alberta Investment Management Corp	700K
GLAZER CAPITAL, LLC	693.97K
BNP PARIBAS FINANCIAL MARKETS	685.95K
Verition Fund Management LLC	600K
RIVERNORTH CAPITAL MANAGEMENT, LLC	425K
MOORE CAPITAL MANAGEMENT, LP	400K
PICTON MAHONEY ASSET MANAGEMENT	399.99K
TWO SIGMA INVESTMENTS, LP	362.5K
Radcliffe Capital Management, L.P.	361.16K
WHITEBOX ADVISORS LLC	300K

Bars compare reported share counts. A matching total for this share class and reporting period is unavailable, so percentages are not shown.

Source: SEC Form 13F ↗Updated Sep 29, 2026 · Quarterly data

Insider buys & sells

Jul 1, 2024–Jun 30, 2026

Buys0$0.00 disclosed value

Sells (SEC code S)0$0.00 disclosed value

No insider transactions transactions were reported in the stored SEC coverage.

Review ownership filings at SEC.gov ↗

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Abony Acquisition Corp. I (AACO)

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