Starlink AI Raises $100 Million, Plans Merger With Spider Digital
Key Facts
Spider Digital Technology and Starlink AI Acquisition Corporation announced a definitive merger agreement, in a move aimed at listing cryptocurrency mining operations in the U.S. market, according to the available news summary. The original deal announcement, independent coverage and a filing with the Securities and Exchange Commission confirming its details could not be verified. The deal value, its financing and closing terms therefore have not been confirmed through open sources. Spider Digital describes itself as providing Bitcoin mining technology and related services, but the scope of the businesses covered by the agreement could not be verified. Available records show Starlink AI is a special purpose acquisition company that raised $100 million in its public offering in May.
Starlink AI closed its public offering on 11 May 2026, after selling 10,000,000 units at $10 per unit, generating gross proceeds of $100,000,000, according to a company announcement published through GlobeNewswire. The offering puts the company’s resources at formation in the context of the proposed deal, but does not establish how much money is now available for the merger. In its quarterly report, the company disclosed $106,372,992 in its trust account and $545,960 in cash as of 31 July 2026, according to its filing with the U.S. Securities and Exchange Commission. These figures are a snapshot of its finances on that date and do not by themselves show whether the trust account funds will remain intact at the closing of any deal. The target company’s valuation and any additional financing tied to the agreement could not be verified.
Starlink AI units began trading on the New York Stock Exchange on 8 May 2026 under the ticker OTAIU, three days before the offering closed, according to the company announcement. Each unit consists of one ordinary share and a right entitling its holder to receive a quarter of an ordinary share upon completion of an initial merger. Trading in the company’s existing units therefore does not mean the company resulting from the proposed agreement has already been listed. The announcement establishes only that Starlink AI’s own units are trading, while the listing of the entity resulting from the deal remains unverified through open sources. The distinction matters when reading the announcement as a proposed route to the U.S. stock market, rather than as notice that the listing has been completed.
Starlink AI described itself as a Cayman Islands blank-check company formed to complete a merger or similar business combination, and said it would not limit its search for targets to any particular sector, according to its offering announcement. In its quarterly report filed in September, it classified itself as a shell company and disclosed 13,501,250 ordinary shares issued and outstanding as of 14 September 2026. These disclosures explain the nature of the acquisition company now seeking a deal with Spider Digital and give its share count on a specific date. But, based on the available information, they do not reveal the expected share count or ownership structure of the company after the merger. The shareholder approval terms, minimum net-asset threshold or New York Stock Exchange approval mentioned in the initial draft could not be verified.
Starlink AI’s report set its current deadline to complete an initial merger at 11 May 2027, unless the company extends the period by amending its founding documents, according to its filing with the U.S. Securities and Exchange Commission. This is a deadline for the company to complete an initial merger, not an announced date for completing its agreement with Spider Digital. A timeline for the proposed deal or its next steps could not be verified. Based on the available information, the agreement remains proposed until documented details of its terms and completion steps become available.