Spark I Acquisition Adds $0.10 Per Share to Trust for Extension

Palo Alto-based Spark I Acquisition Corporation announced Tuesday it will contribute an additional $0.10 per Class A share into its trust account, a move designed to extend the blank-check company's deadline to complete a business combination. The OTC-listed SPAC, trading under the ticker SPKLF, described the payment as a one-time deposit.

The contribution follows a common mechanism among special purpose acquisition companies seeking more time to identify and close a merger target. By depositing funds into the trust account, the company preserves capital for shareholders while buying additional runway under rules governing SPAC timelines.

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Spark I has not disclosed the total dollar amount of the deposit in its announcement, though the per-share figure of $0.10 applied across all outstanding Class A shares would determine the aggregate sum. The company is headquartered in Palo Alto, California, and its shares trade on the OTC market.

SPAC extension contributions have become increasingly scrutinized by investors as the post-2021 blank-check market continues to navigate tighter redemption dynamics and regulatory attention. Shareholders who choose to redeem their Class A shares rather than support an extension would typically receive their pro-rata trust balance at the time of redemption.

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