Amanat Acquisition (AMAN)
Market Price (6/6/2026): $10.09 | Market Cap: $-Sector: Financials | Industry: Multi-Sector Holdings
Amanat Acquisition (AMAN)
Market Price (6/6/2026): $10.09Market Cap: $-Sector: FinancialsIndustry: Multi-Sector Holdings
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 5.3% | Trading close to highsDist 52W High is -0.6%, Dist 3Y High is -0.6% Weak multi-year price returns2Y Excs Rtn is -39%, 3Y Excs Rtn is -76% | Key risksAMAN key risks include [1] the failure to complete a business combination, Show more. |
| Low stock price volatilityVol 12M is 5.3% |
| Trading close to highsDist 52W High is -0.6%, Dist 3Y High is -0.6% |
| Weak multi-year price returns2Y Excs Rtn is -39%, 3Y Excs Rtn is -76% |
| Key risksAMAN key risks include [1] the failure to complete a business combination, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Amanat Acquisition (AMAN) stock has remained largely at the same level since it went public on 5/19/2026 because of the following key factors:
1. Inherent SPAC Structure and Trust Value: Amanat Acquisition Corp (AMAN) is a Special Purpose Acquisition Company (SPAC) that priced its initial public offering at $10.00 per share on May 19, 2026. As a SPAC, a significant portion of the IPO proceeds, specifically $75,000,000 from the sale of 7,500,000 Class A ordinary shares, was placed into a trust account. This trust account acts as a floor for the stock price, as public shareholders have the right to redeem their shares at approximately $10.00 per share (plus accrued interest) if they disapprove of a proposed business combination or if no acquisition is completed within a specified timeframe. The stock has consistently traded near this IPO price, with recent prices around $10.13 to $10.19, demonstrating this price floor effect.
2. Absence of an Announced Business Combination: The company has not yet identified or announced a definitive target for a merger or acquisition. As a blank check company, Amanat Acquisition's primary purpose is to seek a business combination, particularly in the healthcare or healthcare-related industries. Without a specific deal or a target company's fundamentals to evaluate, there are no immediate company-specific catalysts to drive significant price movements beyond its trust value.
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Stock Movement Drivers
Fundamental Drivers
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Market Drivers
2/28/2026 to 6/5/2026| Return | Correlation | |
|---|---|---|
| AMAN | ||
| Market (SPY) | 7.8% | 24.6% |
| Sector (XLF) | 2.2% | 52.3% |
Fundamental Drivers
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Market Drivers
11/30/2025 to 6/5/2026| Return | Correlation | |
|---|---|---|
| AMAN | ||
| Market (SPY) | 8.5% | 24.6% |
| Sector (XLF) | -1.1% | 52.3% |
Fundamental Drivers
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Market Drivers
5/31/2025 to 6/5/2026| Return | Correlation | |
|---|---|---|
| AMAN | ||
| Market (SPY) | 26.6% | 24.6% |
| Sector (XLF) | 4.2% | 52.3% |
Fundamental Drivers
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Market Drivers
5/31/2023 to 6/5/2026| Return | Correlation | |
|---|---|---|
| AMAN | ||
| Market (SPY) | 83.4% | 24.6% |
| Sector (XLF) | 72.8% | 52.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AMAN Return | - | - | - | - | - | 1% | 1% |
| Peers Return | 1% | 1% | |||||
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| AMAN Win Rate | - | - | - | - | - | 50% | |
| Peers Win Rate | 80% | ||||||
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 67% | |
Max Drawdowns [4] | |||||||
| AMAN Max Drawdown | - | - | - | - | - | - | |
| Peers Max Drawdown | |||||||
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: RACC, HCAC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/5/2026 (YTD)
How Low Can It Go
AMAN has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.5% | -18.8% |
| % Gain to Breakeven | 18.4% | 23.1% |
| Time to Breakeven | 80 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -10.7% | -9.5% |
| % Gain to Breakeven | 12.0% | 10.5% |
| Time to Breakeven | 26 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -16.1% | -6.7% |
| % Gain to Breakeven | 19.1% | 7.1% |
| Time to Breakeven | 270 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -19.7% | -19.2% |
| % Gain to Breakeven | 24.5% | 23.8% |
| Time to Breakeven | 123 days | 105 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
AMAN has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.4% | -12.2% |
| % Gain to Breakeven | 27.3% | 13.9% |
| Time to Breakeven | 272 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -26.1% | -17.9% |
| % Gain to Breakeven | 35.3% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -78.3% | -53.4% |
| % Gain to Breakeven | 359.8% | 114.4% |
| Time to Breakeven | 2329 days | 1085 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Amanat Acquisition (AMAN)
AI Analysis | Feedback
Here are a few analogies to describe Amanat Acquisition (AMAN):
- A publicly traded private equity firm focused on acquiring a single healthcare company.
AI Analysis | Feedback
- Initial Business Combination Facilitation: Amanat Acquisition is a Special Purpose Acquisition Company (SPAC) formed to identify and complete a merger or acquisition with a private operating business, primarily in healthcare or healthcare-related industries.
AI Analysis | Feedback
Amanat Acquisition (AMAN) is a blank check company, also known as a Special Purpose Acquisition Company (SPAC). Its sole purpose is to raise capital through an Initial Public Offering (IPO) to acquire or merge with one or more businesses. As of the provided description, it has not yet selected any specific business combination target and has not engaged in any substantive discussions with potential targets.
Therefore, Amanat Acquisition does not currently have major customers in the traditional sense of selling products or services. A SPAC's "business" is to identify and execute a business combination. It does not sell goods or services to other companies or individuals.
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Dr. Sandeep C. Kulkarni, Chairman of the Board
Dr. Sandeep Kulkarni is an experienced biotech executive who currently serves as CEO of Zura Bio (Nasdaq: ZURA). He was previously the co-founder and CEO of Tourmaline Bio, which was acquired by Novartis in 2025. Dr. Kulkarni is also the sole member of Amanat Sponsor Holdings LLC, the sponsor of Amanat Acquisition.
Dr. Pavan Cheruvu, Chief Executive Officer and Director
Dr. Pavan Cheruvu previously served as CEO of Bitterroot Bio and Sio Gene Therapies. He has been the Chairman of the Board of Imbria Pharmaceuticals, Inc. since September 2025.
Nicholas Fernandez, Chief Financial Officer and Principal Accounting Officer
Nicholas Fernandez serves as the Chief Financial Officer and Principal Accounting Officer for Amanat Acquisition Corp.
AI Analysis | Feedback
The key risks to Amanat Acquisition (AMAN) are:
- Inability to complete an initial business combination: As a blank check company, Amanat Acquisition's sole purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company has not yet selected any specific business combination target. If it fails to complete an initial business combination within the timeframe required by its organizational documents, it may be forced to liquidate and return the funds held in its trust account to its public shareholders, potentially at a price per share less than the initial offering price.
- Failure to identify a suitable business combination target or complete an acquisition on favorable terms: Even if Amanat Acquisition identifies potential targets, there is no guarantee that it will be able to successfully negotiate and complete a business combination with a suitable entity. It may also pursue an acquisition that is not well-received by investors or does not ultimately create long-term shareholder value.
- Risk of significant shareholder redemptions: Public shareholders of Amanat Acquisition may choose to redeem their shares in connection with a proposed business combination. High redemption rates could significantly reduce the amount of capital available to the combined company, potentially making the business combination less attractive or even preventing its completion.
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Share Issuance
- Amanat Acquisition completed its Initial Public Offering (IPO) by issuing 7,500,000 Class A ordinary shares at an offering price of $10.00 per share, raising $75 million. The IPO was priced on May 19, 2026, and closed on May 20, 2026.
- The company granted the underwriters a 45-day option to purchase up to 1,125,000 additional Class A ordinary shares to cover over-allotments. This could potentially increase the total offering size to $86.25 million if fully exercised.
Inbound Investments
- Amanat Acquisition closed a $3 million private placement through the sale of shares to its sponsor, Amanat Sponsor Holdings.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 10.27 |
| Mkt Cap | - |
| Rev LTM | - |
| Op Inc LTM | - |
| FCF LTM | - |
| FCF 3Y Avg | - |
| CFO LTM | - |
| CFO 3Y Avg | - |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | - |
| Rev Chg 3Y Avg | - |
| Rev Chg Q | - |
| QoQ Delta Rev Chg LTM | - |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | - |
| CFO/Rev 3Y Avg | - |
| FCF/Rev LTM | - |
| FCF/Rev 3Y Avg | - |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | - |
| P/S | - |
| P/Op Inc | - |
| P/EBIT | - |
| P/E | - |
| P/CFO | - |
| Total Yield | - |
| Dividend Yield | - |
| FCF Yield 3Y Avg | - |
| D/E | - |
| Net D/E | - |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 1.1% |
| 3M Rtn | 1.1% |
| 6M Rtn | 1.1% |
| 12M Rtn | 1.1% |
| 3Y Rtn | 1.1% |
| 1M Excs Rtn | 0.9% |
| 3M Excs Rtn | -8.4% |
| 6M Excs Rtn | -6.7% |
| 12M Excs Rtn | -22.5% |
| 3Y Excs Rtn | -75.5% |
Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Multi-Sector Holdings Resources |
| McKinsey & Company Insights |
| Harvard Business Review |
| ValueWalk |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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