New York, May 24, 2026, 12:02 EDT
Gesher Acquisition Corp. II’s Class A shares were quiet ahead of the Memorial Day break, with investors still waiting to see if the SPAC will land a deal before time runs out.
The stock last changed hands at $10.40 on Friday, with volume just two shares. Price discovery stayed thin. Market cap was about $213 million. Related warrants were last quoted around 22 cents.
U.S. stock trading is paused for the long weekend. Nasdaq and NYSE mark Memorial Day, Monday, May 25, as a market holiday in 2026, so action won’t pick up again until Tuesday. This pushes the story from day-of moves to more of a look back at last week and what to watch for the week ahead.
Gesher traded against a strong tape last week. The S&P 500 was up 0.9%, the Dow climbed 2.1%, and the Nasdaq edged up 0.5%. U.S. equities wrapped up an eighth week of gains, Associated Press market data showed.
Gesher is a SPAC, which is a special purpose acquisition company. It’s a shell firm that raises money to merge with a private company. Reuters says Gesher is looking at targets in Israel, with a focus on firms that do business in Asia, Europe or North America.
Gesher Acquisition Corp II brought in $143.75 million from its IPO after underwriters took up the full over-allotment, selling 14.375 million units at $10 apiece. Each unit had one Class A ordinary share and half a warrant. The shares and warrants started trading as GSHR and GSHRW.
Gesher shares continue to trade like cash, the latest filing shows. The company held $150.0 million in marketable securities in its trust account and $589,283 in cash outside the trust as of March 31. Gesher had not yet signed a definitive deal with a business-combination target.
Gesher posted net income of $891,601 for the first quarter, but this wasn’t traditional operating profit. Earnings came mostly from $1.3 million in interest on marketable securities in trust, with $412,668 spent on general and administrative expenses.
Gesher CEO Ezra Gardner is focusing the hunt on Israeli tech. He told The Jerusalem Post/Globes in October that Gesher wants a “wonderful team of geniuses.” Gardner also said for some smaller companies, “SPACs can be a good alternative.” The Jerusalem Post
Blank-check deals are still moving. Apogee Acquisition Corp, a Nasdaq-listed SPAC focused on advanced-technology, said Friday it will let its ordinary shares, warrants, and rights trade separately starting May 28. The move suggests the SPAC calendar is still active while older SPACs keep chasing targets.
But time is the main risk. Gesher said it has until December 24, 2026 to finish a business combination or else it has to shut down and redeem public shares, unless shareholders vote for more time. Management said that looming deadline puts “substantial doubt” on Gesher’s ability to keep going as a business—an accounting red flag that means the company may not be able to keep running as planned. SEC
Looking at this week, Gesher’s next big move will probably need a merger filing, extension update, or fresh financing news. Otherwise, Gesher stays a lightly traded SPAC near its trust cash, with no operating business behind the stock.
