Three Lions Acquisition (TLAC)


Market Price (10/17/2026): $9.84 | Market Cap: $-Sector: Financials | Industry: Multi-Sector Holdings

Three Lions Acquisition (TLAC)


Market Price (10/17/2026): $9.84
Market Cap: $-
Sector: Financials
Industry: Multi-Sector Holdings

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Low stock price volatility
Vol 12M is 2.6%

Trading close to highs
Dist 52W High is -0.7%, Dist 3Y High is -0.7%

Weak multi-year price returns
2Y Excs Rtn is -35%, 3Y Excs Rtn is -79%

Key risks
TLAC key risks include [1] the failure to complete an initial business combination, Show more.

0 Low stock price volatility
Vol 12M is 2.6%
1 Trading close to highs
Dist 52W High is -0.7%, Dist 3Y High is -0.7%
2 Weak multi-year price returns
2Y Excs Rtn is -35%, 3Y Excs Rtn is -79%
3 Key risks
TLAC key risks include [1] the failure to complete an initial business combination, Show more.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/1/2026

Three Lions Acquisition (TLAC) stock has remained largely at the same level since it went public on 9/17/2026 because of the following key factors:

1. Three Lions Acquisition (TLAC) is a Special Purpose Acquisition Company (SPAC) in its initial phase, characterized by trading near its IPO price due to the underlying cash in trust. As a blank-check company, TLAC's primary asset is the $100,500,000 held in a trust account, which equates to approximately $10.05 per public share, providing a strong floor for the stock price. Since its public trading of ordinary shares commenced on September 17, 2026, the stock has remained tightly bound, trading within a narrow range of $9.83 to $9.93. This stability is typical for SPACs before a definitive business combination is announced, as their value is largely tied to the liquidation value of the trust.

2. The company has no current business operations or revenue generation, which limits catalysts for significant stock movement. Three Lions Acquisition Corp. was formed solely for the purpose of identifying and merging with an operating company, without selling products or providing services itself. As such, it has not generated any revenues, and its activities are confined to organizational, regulatory, and transaction-related efforts. Without an operating business or financial performance metrics, there are no company-specific earnings, sales, or product news to drive material price changes.

Show more
Updated on 10/1/2026

Three Lions Acquisition (TLAC) stock has remained largely at the same level since it went public on 9/17/2026 because of the following key factors:

1. Three Lions Acquisition (TLAC) is a Special Purpose Acquisition Company (SPAC) in its initial phase, characterized by trading near its IPO price due to the underlying cash in trust. As a blank-check company, TLAC's primary asset is the $100,500,000 held in a trust account, which equates to approximately $10.05 per public share, providing a strong floor for the stock price. Since its public trading of ordinary shares commenced on September 17, 2026, the stock has remained tightly bound, trading within a narrow range of $9.83 to $9.93. This stability is typical for SPACs before a definitive business combination is announced, as their value is largely tied to the liquidation value of the trust.

2. The company has no current business operations or revenue generation, which limits catalysts for significant stock movement. Three Lions Acquisition Corp. was formed solely for the purpose of identifying and merging with an operating company, without selling products or providing services itself. As such, it has not generated any revenues, and its activities are confined to organizational, regulatory, and transaction-related efforts. Without an operating business or financial performance metrics, there are no company-specific earnings, sales, or product news to drive material price changes.

3. The stock's recent IPO on September 17, 2026, coupled with an active quiet period, contributes to subdued trading activity. The separate trading of TLAC ordinary shares only began in mid-September 2026, making it a very newly listed entity. The company is currently within its quiet period, which is expected to expire on October 12, 2026. During this time, there are restrictions on public communications from the company and analysts, leading to limited new information flow and thus reduced trading volatility and price discovery.

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Stock Movement Drivers

Fundamental Drivers

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Market Drivers

6/30/2026 to 10/16/2026
ReturnCorrelation
TLAC  
Market (SPY)2.2%28.2%
Sector (XLF)3.6%25.2%

Fundamental Drivers

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Market Drivers

3/31/2026 to 10/16/2026
ReturnCorrelation
TLAC  
Market (SPY)17.7%28.2%
Sector (XLF)12.9%25.2%

Fundamental Drivers

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Market Drivers

9/30/2025 to 10/16/2026
ReturnCorrelation
TLAC  
Market (SPY)15.5%28.2%
Sector (XLF)4.3%25.2%

Fundamental Drivers

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Market Drivers

9/30/2023 to 10/16/2026
ReturnCorrelation
TLAC  
Market (SPY)84.7%28.2%
Sector (XLF)74.7%25.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
TLAC Return------0%-0%
Peers Return     -1%-1%
S&P 500 Return27%-19%24%23%16%14%108%

Monthly Win Rates [3]
TLAC Win Rate-----50% 
Peers Win Rate     47% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
TLAC 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: FLSC, IPHX, JTTT, MTAK, NSAI.
[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 10/16/2026 (YTD)

How Low Can It Go

TLAC has limited trading history. Below is the Financials sector ETF (XLF) in its place.

EventXLFS&P 500
2025 US Tariff Shock
  % Loss-15.5%-18.8%
  % Gain to Breakeven18.4%23.1%
  Time to Breakeven80 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-10.7%-9.5%
  % Gain to Breakeven12.0%10.5%
  Time to Breakeven26 days24 days
2023 SVB Regional Banking Crisis
  % Loss-16.1%-6.7%
  % Gain to Breakeven19.1%7.1%
  Time to Breakeven270 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-22.3%-24.5%
  % Gain to Breakeven28.6%32.4%
  Time to Breakeven467 days427 days
2020 COVID-19 Crash
  % Loss-42.8%-33.7%
  % Gain to Breakeven74.8%50.9%
  Time to Breakeven289 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-19.7%-19.2%
  % Gain to Breakeven24.5%23.8%
  Time to Breakeven123 days105 days

Compare to AAC, AMAC, ATLQ, BID, BRTM

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.

TLAC has limited trading history. Below is the Financials sector ETF (XLF) in its place.

EventXLFS&P 500
2022 Inflation Shock & Fed Tightening
  % Loss-22.3%-24.5%
  % Gain to Breakeven28.6%32.4%
  Time to Breakeven467 days427 days
2020 COVID-19 Crash
  % Loss-42.8%-33.7%
  % Gain to Breakeven74.8%50.9%
  Time to Breakeven289 days140 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-21.4%-12.2%
  % Gain to Breakeven27.3%13.9%
  Time to Breakeven272 days62 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-26.1%-17.9%
  % Gain to Breakeven35.3%21.8%
  Time to Breakeven162 days123 days
2008-2009 Global Financial Crisis
  % Loss-78.3%-53.4%
  % Gain to Breakeven359.8%114.4%
  Time to Breakeven2329 days1085 days

Compare to AAC, AMAC, ATLQ, BID, BRTM

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 Three Lions Acquisition (TLAC)

Three Lions Acquisition (TLAC) is a Special Purpose Acquisition Company (SPAC) incorporated in the Cayman Islands. As a blank check company, its core business is to raise capital through an initial public offering with the singular purpose of identifying and acquiring an existing private operating company. This acquisition, which may take the form of a merger, asset purchase, or other business combination, would effectively bring the target company into the public market.

TLAC aims to leverage its management team's extensive experience and relationships to identify suitable acquisition targets. While it has the flexibility to pursue opportunities across various sectors, the company intends to concentrate its efforts on businesses within three primary areas: sports, hospitality and leisure, and real estate. This includes targets such as professional sports franchises, sports media, hospitality chains, experiential entertainment concepts, and sports- or hospitality-anchored mixed-use real estate developments.

Therefore, TLAC's "products" are its capital and management expertise offered to private companies seeking to go public, and its "market" consists of growth-oriented private businesses within the specified sports, hospitality, and real estate sectors that are candidates for a public listing through acquisition.

AI Analysis | Feedback

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AI Analysis | Feedback

  • Business Combination Facilitation: Three Lions Acquisition provides the financial vehicle and management expertise to identify, acquire, and merge with an existing operating business, enabling it to become a publicly traded company.

AI Analysis | Feedback

Three Lions Acquisition (TLAC) is a blank check company, also known as a Special Purpose Acquisition Company (SPAC). Its primary purpose is to raise capital through an initial public offering and then use those funds to acquire an existing private company. As such, TLAC does not have traditional major customers to whom it sells products or services.

Therefore, Three Lions Acquisition does not have major customers in the conventional sense.

AI Analysis | Feedback

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AI Analysis | Feedback

Brett Matthew Johnson, Chief Executive Officer

Mr. Johnson is the Chief Executive Officer and Partner at Benevolent Capital Partners, LLC. He previously worked in private equity and managed the computer-accessories company Targus for approximately five years. He has been involved with Phoenix Rising FC, Rhode Island FC, and Ipswich Town through the Gamechanger 20/Three Lions ownership group. Mr. Johnson is also a co-founder and co-managing director of Three Lions Capital Management.

Harry Brandler, CFO & Director

Mr. Brandler manages his family office, Brandler.

Berke Bakay, Chairman

Mr. Bakay is a co-founder and co-managing director of Three Lions Capital Management. He is a sports investor and serves as co-chair of Phoenix Rising FC. Prior to this, he led Kona Grill, a restaurant chain that was publicly traded on Nasdaq.

AI Analysis | Feedback

The key risks to Three Lions Acquisition (TLAC), a blank check company, primarily stem from its operational model as a Special Purpose Acquisition Company (SPAC). The most significant risks include:
  • Failure to complete an initial business combination: As a blank check company, Three Lions Acquisition's sole purpose is to identify and acquire a target business. There is no guarantee that the company will successfully complete an initial business combination within the stipulated timeframe, typically two years. If it fails to do so, the company would likely liquidate, returning funds to shareholders, but potentially at the IPO price minus costs, leading to an opportunity cost or even a loss for investors who purchased shares at a premium.
  • Competition for target businesses: The market for suitable acquisition targets, particularly in the sports, hospitality and leisure, and real estate sectors that Three Lions Acquisition intends to focus on, can be highly competitive. Other SPACs, private equity firms, or strategic buyers may pursue similar attractive businesses, making it challenging for Three Lions Acquisition to identify and secure a desirable merger candidate.
  • Dependence on the management team: The success of Three Lions Acquisition heavily relies on the experience, relationships, and operating track record of its management team to identify, acquire, and grow a business. The inability of the management team to identify a suitable target or successfully execute a business combination would materially and adversely affect the company.

AI Analysis | Feedback

The primary emerging threat to Three Lions Acquisition (TLAC), as a Special Purpose Acquisition Company (SPAC), is the **eroding investor confidence in the SPAC vehicle and consistently high shareholder redemption rates**. This trend, which has become prevalent across the SPAC market, makes it increasingly difficult for TLAC to retain sufficient capital from its trust account to complete an attractive business combination. Coupled with increased regulatory scrutiny and a general market shift favoring traditional IPOs or direct listings, this directly threatens the fundamental premise of the SPAC model and TLAC's ability to fulfill its stated purpose of acquiring and growing a business.

AI Analysis | Feedback

The addressable markets for Three Lions Acquisition's (TLAC) main target sectors are substantial, both globally and within the United States.

Sports Industry

  • Globally, the sports industry was valued at approximately $417 billion in 2025 and is projected to grow to $602 billion by 2030. Another estimate places the global sports market at $571.7 billion in 2026, with a projection to reach $1,254.85 billion by 2035.
  • In the U.S., the broader sports business industry generated $1.06 trillion in 2023, accounting for about 40% of the global total. More specifically, the U.S. spectator sports market was valued at $51.85 billion in 2026 and is projected to reach $70.80 billion by 2031. The U.S. sports event market alone generated $163.7 billion in revenue in 2025 and is expected to reach $264.7 billion by 2033.

Hospitality and Leisure Industry

  • The global hospitality market was valued at approximately $6,432.44 billion in 2025, estimated to be $7,470 billion in 2026, and is projected to reach $24,710 billion by 2034. Another report indicates the global hospitality market was $5.82 trillion in 2026 and is projected to reach $7.47 trillion by 2030.
  • For leisure travel, a segment within the broader leisure industry, the global market was valued at $2,192 billion in 2025, estimated at $2,673 billion in 2026, and projected to reach $13,047 billion by 2034.
  • In the U.S., the hospitality market stands at $247.81 billion in 2026 and is projected to reach $305.53 billion by 2031. The U.S. hotels market specifically was approximately $288.627 billion in 2025, with projections to reach $610.6489 billion by 2034.

Real Estate Industry

  • Globally, the real estate market was valued at $7,517.4 billion in 2025 and is projected to reach $8,760.4 billion by 2034. Another estimate indicates the global real estate market size was $4.7 trillion in 2026, projected to grow to $8.45 trillion by 2034.
  • In the U.S., the real estate market was valued at approximately $3.53 trillion in 2025, with projections to reach $4.65 trillion by 2035.

AI Analysis | Feedback

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AI Analysis | Feedback

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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

TLACFLSCIPHXJTTTMTAKNSAIMedian
NameThree Li.Frazier .Inflecti.Jatt III.Market T.NorthStr. 
Mkt Price9.8410.359.8310.449.879.919.89
Mkt Cap-------
Rev LTM-------
Op Inc LTM-------
FCF LTM-------
FCF 3Y Avg-------
CFO LTM-------
CFO 3Y Avg-------

Growth & Margins

TLACFLSCIPHXJTTTMTAKNSAIMedian
NameThree Li.Frazier .Inflecti.Jatt III.Market T.NorthStr. 
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

TLACFLSCIPHXJTTTMTAKNSAIMedian
NameThree Li.Frazier .Inflecti.Jatt III.Market T.NorthStr. 
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

TLACFLSCIPHXJTTTMTAKNSAIMedian
NameThree Li.Frazier .Inflecti.Jatt III.Market T.NorthStr. 
1M Rtn-0.6%0.6%-1.1%-4.7%-0.3%0.4%-0.5%
3M Rtn-0.6%0.6%-1.1%-8.8%-0.3%0.5%-0.5%
6M Rtn-0.6%0.6%-1.1%-8.8%-0.3%0.5%-0.5%
12M Rtn-0.6%0.6%-1.1%-8.8%-0.3%0.5%-0.5%
3Y Rtn-0.6%0.6%-1.1%-8.8%-0.3%0.5%-0.5%
1M Excs Rtn-2.8%-1.6%-3.3%-7.3%-2.5%-1.8%-2.7%
3M Excs Rtn-5.5%-4.3%-6.0%-13.7%-5.2%-4.4%-5.3%
6M Excs Rtn-10.2%-9.0%-10.6%-18.4%-9.9%-9.1%-10.0%
12M Excs Rtn-17.7%-16.4%-18.1%-25.8%-17.3%-16.6%-17.5%
3Y Excs Rtn-79.1%-77.8%-79.3%-87.0%-78.7%-78.0%-78.9%

Comparison Analyses

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Financials

Price Behavior

Price Behavior
Market Price$9.83 
First Trading Date09/17/2026 
Distance from 52W High-0.7% 
   50 Days200 Days
DMA Price  
DMA Trend  
Distance from DMA  
 3M1YR
Volatility2.6%2.6%
Downside Capture  
Upside Capture  
Correlation (S&P 500)  
TLAC Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.02-0.10-0.01-0.01-0.020.03
Up Beta0.180.14-0.14-0.14-0.140.10
Down Beta-0.38-0.05-0.07-0.02-0.03-0.01
Up Capture-2%-1%-1%-0%-0%-0%
Bmk +ve Days6162766132424
Stock +ve Days111111
Down Capture8%5%3%2%1%1%
Bmk -ve Days16263760120328
Stock -ve Days555555

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with TLAC
TLAC-0.9%3.0%-6.89-
Sector ETF (XLF)5.6%14.7%0.1416.7%
Equity (SPY)15.8%12.7%0.8633.8%
Gold (GLD)-1.4%29.4%-0.0540.5%
Commodities (DBC)50.4%20.7%1.86-14.0%
Real Estate (VNQ)4.8%13.7%0.0936.5%
Bitcoin (BTCUSD)-25.9%43.6%-0.57-21.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with TLAC
TLAC-0.2%3.0%-6.89-
Sector ETF (XLF)9.1%18.3%0.3616.7%
Equity (SPY)13.2%17.1%0.5933.8%
Gold (GLD)18.4%18.9%0.7940.5%
Commodities (DBC)9.6%19.5%0.37-14.0%
Real Estate (VNQ)1.6%18.8%-0.0236.5%
Bitcoin (BTCUSD)8.8%51.8%0.35-21.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with TLAC
TLAC-0.1%3.0%-6.89-
Sector ETF (XLF)13.0%22.1%0.5316.7%
Equity (SPY)15.2%17.9%0.7233.8%
Gold (GLD)12.3%16.4%0.6140.5%
Commodities (DBC)8.1%18.1%0.36-14.0%
Real Estate (VNQ)5.2%20.7%0.2136.5%
Bitcoin (BTCUSD)63.2%66.2%1.03-21.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity0.0 Mil
Short Interest: % Change Since 9152026100.0%
Average Daily Volume0.0 Mil
Days-to-Cover Short Interest1
Core Cache Last Updated: 10/16/2026