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Small Cap
Shell Companies
Stocks Ranked by
Market Capitalization

Name Market cap Price Price
change %
ALDF icon
76
Aldel Financial II Inc
ALDF
$323M
$323M $10.81 –
JACS icon
77
Jackson Acquisition Co II
JACS
$321M
$321M $10.86 0.09%
IACQ icon
78
Irenic Acquisition Corp
IACQ
$320M
$320M $9.93 –
IPXG icon
79
Inflection Point Acquisition Corp. VII Class A Ordinary Shares
IPXG
$320M
$320M $10.20 0.1%
RNGT icon
80
Range Capital Acquisition Corp II
RNGT
$320M
$320M $10.20 0%
CAES
81
Cantor Equity Partners VII
CAES
$319M
$319M $10.01 0.1%
AEAQ icon
82
Activate Energy Acquisition Corp
AEAQ
$316M
$316M $10.10 0%
XRPN icon
83
Evernorth Holdings Inc. Class A Ordinary Shares
XRPN
$314M
$314M $14.12 4.01%
CAQ icon
84
Cambridge Acquisition Corp
CAQ
$313M
$313M $10.03 0%
LEGO icon
85
Legato Merger Corp IV
LEGO
$312M
$312M $9.99 0%
ILLU icon
86
Illumination Acquisition Corp I
ILLU
$312M
$312M $9.98 0%
LWAC icon
87
LightWave Acquisition Corp
LWAC
$312M
$312M $10.37 0%
RAC icon
88
Rithm Acquisition Corp
RAC
$311M
$311M $10.58 0.09%
LPBB icon
89
Launch Two Acquisition Corp
LPBB
$310M
$310M $10.80 0%
VHCP icon
90
Vine Hill Capital Investment Corp II
VHCP
$310M
$310M $10.10 0%
ITHA icon
91
ITHAX Acquisition Corp III
ITHA
$309M
$309M $10.09 0%
MTAL icon
92
Metals Acquisition Corp II
MTAL
$309M
$309M $10.08 0%
TMTS icon
93
Spartacus Acquisition Corp II
TMTS
$308M
$308M $10.03 0%
VII
94
Viking Acquisition Corp II
VII
$307M
$307M $9.80 0.2%
BIXI icon
95
Bitcoin Infrastructure Acquisition Corp
BIXI
$304M
$304M $10.11 0.1%
OTGA icon
96
OTG Acquisition Corp I
OTGA
$303M
$303M $10.27 0%
HVMC icon
97
Highview Merger Corp
HVMC
$303M
$303M $10.29 0%
GSRF icon
98
GSR IV Acquisition Corp
GSRF
$303M
$303M $10.29 0%
JENA icon
99
Jena Acquisition Corp II
JENA
$302M
$302M $10.44 0%
QLEP
100
Quantum Leap Acquisition Corp
QLEP
$302M
$302M $10.06 0%
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4
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Small Cap Shell Companies Stocks at a Glance

Shell companies are development-stage vehicles with little or no operating revenue — blank-check entities, capital pools, and holding structures formed to acquire businesses. The investment case rests entirely on management and the eventual deal, not current fundamentals.

There are 134 small cap Shell Companies stocks — companies in the Shell Companies industry with a market cap between $250M and $2B — worth a combined $46.9B.

The largest by market cap are Drugs Made In America Acquisition II Corp (DMII) at $650M, EQV Ventures Acquisition Corp II (EVAC) at $606M and Bain Capital GSS Investment Corp (BCSS) at $599M.

Among institutional investors, Cantor Equity Partners VII (CAES) drew the most net new fund positions in Q2 2026: 74 funds opened new positions.

Market caps and prices updated daily; fund activity based on aggregated SEC 13F filings for Q2 2026.