Soulpower Acquisition Corp (SOUL) is a blank-check special purpose acquisition company incorporated in the Cayman Islands that was formed to identify and complete a merger or business combination with a target company. The company holds proceeds from its initial public offering in a trust account and generates no operating revenue until a business combination is consummated. As of the 10-K filed March 27, 2026, Soulpower is pursuing a specific business combination agreement with SWB (the "SWB Business Combination Agreement") and, if that transaction does not close, intends to target businesses in consumer financial services, with particular interest in insurance services and long-term savings and investments. The completion window requires the company to consummate an initial business combination or face liquidation. An unsecured promissory note of up to $2,500,000 (the "B Note"), issued February 19, 2026, with approximately $1,362,050 drawn as of March 27, 2026, funds general working capital. Cantor Fitzgerald & Co. is named as an underwriter affiliate in the filing.

Revenue model

No operating revenue as of the filing date. The company is a pre-combination SPAC; funds held in trust from the IPO generate interest income. The B Note, bearing no interest, provides working capital ahead of a business combination.

Products and services

Blank-check acquisition vehicle targeting consumer financial services businesses, specifically insurance services and long-term savings and investments. Pending business combination with SWB under the SWB Business Combination Agreement as of March 27, 2026.

Customers and end markets

No customers as of the filing date. Target end markets post-combination are consumer financial services, retirement savings, insurance services, and long-term savings and investment products.

Value-chain role

SPAC sponsor and acquirer. Raises public capital via IPO, holds funds in trust, and seeks to merge with or acquire a private operating company in consumer financial services.

Geographic exposure

Incorporated as a Cayman Islands exempted company. Target market focus described as U.S. consumer financial services, with reference to U.S. retirement savings industry dynamics in the filing.

Source: SEC 10-K, filed 2026-03-27

Industry: Blank Checks