Alchemy Investments Acquisition (ALCY) is a SPAC — a blank check company with no operations or revenue — focused on acquiring a private company in the "deep technology" and data analytics space. ALCY was incorporated in the Cayman Islands in October 2021 and listed on Nasdaq. Its target application areas include remote sensing, telecommunications, environmental monitoring, precision agriculture, and financial trading, among others. Like all SPACs, ALCY raised money through an IPO and holds proceeds in a trust account while management searches for an acquisition target; if a deal is approved by shareholders, trust funds are used as deal consideration or to fund the combined company. ALCY is in late-stage SPAC life: it signed a Business Combination Agreement with Cartiga, a private company, in August 2025, and has until September 9, 2026 to close a deal, provided it makes monthly trust deposits of ~$22,126. If no deal closes by the deadline, ALCY must liquidate and return trust funds to shareholders. The trust held approximately $8.8M as of December 31, 2025, reflecting heavy shareholder redemptions over time. ALCY has three part-time executive officers and no full-time employees, and pays its sponsor affiliate, Alchemy Investment Management, $10,000 per month for administrative support.