This is a blank-check SPAC with no operations, no revenue, and no identified acquisition target. The SPAC raised $172.5M in its November 2025 IPO by selling units at $10.00 each, with approximately $176.9M held in trust in U.S. Treasuries or money market funds. The SPAC intends to focus on the clean energy transition — specifically renewable energy, sustainable finance, and nuclear energy — but no target has been selected and no substantive discussions with any target have taken place. The SPAC has until November 26, 2027 to complete an acquisition; if it fails, it liquidates and returns trust proceeds to shareholders. Approximately $165.6M is available for a business combination after deferred underwriting fees, and management has indicated it will likely target businesses with enterprise values larger than the trust, meaning additional debt or equity financing will be needed to close a deal. Public shareholders can redeem shares at approximately $10.00 plus accrued interest regardless of how they vote on a deal. The sponsor, IG SPAC Sponsor LLC, holds founder shares at minimal cost, creating a financial incentive to complete a deal. Prior to a business combination, only Class B shareholders (the sponsor) can vote on director appointments, making this a Nasdaq-defined controlled company. Management cites team backgrounds at Invest.Green, Fidelity, Microsoft, Robinhood, and LONGi Green Energy as its basis for deal-sourcing expertise in clean energy.