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MACI

Deal announcedStalling

Melar Acquisition Corp. I

Merging with Everli Global Inc.

Deal announced 2025-12-08

Pulse

↑Medium-strong

0–100 vitality — and a read on how the book feels about this shell.

Stalling

% done

36%

Path to close

Price

$10.95

Mkt 236.76M

What is Pulse?

SPAC Pulse measures the current vitality of a deal on a 0–100 scale. A new IPO starts near 50 — a healthy heart with room both ways. It is not weakening just because nothing has printed yet. Weakening is a tag for a slowing beat (stalling cadence), not a quiet shell. 10-Q / 10-K on time is a good beat; an NT is a deficiency. File the report late, then file the NT late, and Pulse falls — that is how public investors read whether management is on top of the shell. Filing recovers some of it. It never pretends the miss did not happen. When other new IPOs file that window on time, they are no longer equal — those shells are healthier. High readings mean the deal book is accelerating; low readings flag life-support risk. Full methodology lives on the desk.

Rate + Lead II · 25 mm/s

Pulse Timeline

Top trace is the Pulse rate. Bottom is the filing lead — R-wave when the rate lifts, QS when it slows. Height is the change.

03-09 10-K
05-14 10-Q
06-17 Extension vote
08-13 10-Q
08-21 S-4
10-07 Now

Auto interpretation · Lead II printoutSinus tachycardiaPulse 67

Beats are packing together — amendments tightening, or a real DA just hit.

Silent 47dBeats/90d 1Recent gap —

Marks on this strip

11-1444 ↓210-Q. Periodic report. Pulse -2 — calendar, not the S-4.
12-0863 ↑19Deal announced. Contract signed. Close-path clock starts. +19
03-0961 ↓210-K. Periodic report. Pulse -2 — calendar, not the S-4.
05-1460 ↓110-Q. Periodic report. Pulse -1 — calendar, not the S-4.
06-1757 ↓3Extension vote. Shareholders printed. Path is late, not leftover trust. -3
08-1360 ↑310-Q. Periodic report on time. +3
08-2173 ↑13S-4. Book opened. Amendment velocity starts here. +13
10-0767 ↓6Now. No S-4/F-4 beat in 47 days. 47d since the last beat. -6

Impression: last filing printed 73. Live Pulse is 67. No S-4/F-4 beat in 47 days. 47d since the last beat. -6

· No S-4/F-4 beat in 47 days.
· Redemptions ~75.5% weigh on minimum cash.

Unconfirmed machine read · not medical advice · not financial advice

Redemptions

75.5%

Leftover trust

$42.7mm

Skin in the game

medium

Target

early

8-K Item 5.07

Votes & leftover trust

Share counts as filed. Preliminary tenders do not move cash until they settle.

2026-06-17 · extension
12,076,077 shares · 75.5% · ~$10.89 · $42.7mm left
$131.5mm out. 3,923,923 public shares remain.

Historical context

S-4 on file in the archive

Precedent from 27 names in the Pulse archive (closed, liquidated, and broken deals). Archive base rate is one input; live beat speed then moves Pulse. Not a forecast.

Close rate: 100%
Median days left: 105
Archive n: 27

Status

S-4 Filed

Exchange

Nasdaq

Rights

Warrants

1/2

CIK

0002016221

IPO date

2024-06-18

Market cap

236.76M

Days to deadline

—

SEC tickers

MACI, MACIU, MACIW

Sponsor

—

S-4 / F-4 filer

Holdco · Everli Global Inc.

Fiscal year

December 31

Next filing

10-Q 2026-11-14

Vote

—

Schedule

What is due next

Fiscal year: Ends December 31 · 10-K cover
This window: 10-Q due 2026-08-14 · filed
Next due: 10-Q 2026-11-14Period 2026-09-30
Pulse: +6

10-Q for period ended 2026-06-30, due 2026-08-14. 10-Q 2026-08-13 on time (+6).

On time with this window. Pulse stays even with the other new listings that filed.

Meetings

No shareholder meeting dated in the Q&A or calendar.

Price history

Delayed exchange prints — common, rights, units, warrants when listed. Last price is in the header. This tape does not move Pulse.

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S-4 amendment timeline

Shrinking gaps mean the deal is progressing. The tag says whether that filing cleared a checklist, dropped a hurdle, or repriced the deal.

Merging company
On file
Everli Global Inc.
Close timing Q&A
On file
promptly following
Meeting Q&A
Gap
No meeting Q captured.
Proxy card
Gap
No form of proxy in the exhibits yet.
10-Q / 10-K
On file
10-Q for period ended 2026-06-30, due 2026-08-14. 10-Q 2026-08-13 on time (+6).

Q&A · close

When do you expect the Business Combination to be completed? A: It is currently anticipated that the Business Combination will be consummated promptly following the Meeting, which is set for ______, 2026. However, the Meeting could be adjourned, as described above. In addition, the Merger Agreement may be terminated by the parties upon the occurrence of certain events or the failure of certain events to occur. For a description of the conditions for the completion of the Business Combination, see The Business Combination Conditions to Closing.