Soulpower eyes insurance tech deals
Special-purpose vehicle Soulpower Acquisition Corp is targeting technology and insurance-related business combinations, signaling fresh SPAC interest in insurance and fintech targets. That underscores buyer appetite for platform plays that combine tech and regulated financial services. (minichart.com.sg)
Soulpower consummated its IPO on April 3, 2025, selling 25,000,000 units at $10.00 per unit and generating $250,000,000 in gross proceeds. (sec.gov) The company’s securities trade on the New York Stock Exchange as units (SOULU), Class A ordinary shares (SOUL) and rights (SOULR). (sec.gov) Soulpower’s S‑1 and related prospectus language state the SPAC will focus its search on insurance services, retirement savings and other related financial services. (sec.gov) On Nov. 24, 2025 Soulpower announced a definitive business combination with SWB LLC, a transaction they characterized as an approximately $8.1 billion deal to form “SOUL WORLD BANK™,” a new‑economy financial services conglomerate and stablecoin issuer. (sahmcapital.com) The Nov. 24 filing also indicates Justin Lafazan will serve as Chairman and CEO of the combined Pubco and that shareholders of Soulpower would receive non‑voting Class A ordinary shares of the post‑closing Pubco. (sahmcapital.com) Management insider activity shows Justin Lafazan participated in a private placement of Class A ordinary shares, acquiring 400,000 shares at $10 per share on April 3, 2025 in a sponsor sale totaling $4.0 million. (investing.com) Pubco confidentially submitted a draft registration statement on Form S‑4 to the SEC on Dec. 29–30, 2025, signaling preparation of a proxy statement and prospectus for the proposed merger. (sec.gov) Soulpower issued an unsecured promissory note of up to $785,000 to its sponsor, Soulpower Management LLC, on Feb. 19, 2026, due at the earlier of the initial business combination or the company’s liquidation. (sec.gov) Director Ty Sagalow resigned from the Soulpower board effective March 23, 2026, with the company filing an 8‑K on March 26, 2026 stating the resignation was not due to any disagreement with the company. (sec.gov)
