Tearsheet

Talon Capital (TLNC)


Market Price (1/17/2026): $10.04 | Market Cap: $133.7 Mil
Sector: Financials | Industry: Multi-Sector Holdings

Talon Capital (TLNC)


Market Price (1/17/2026): $10.04
Market Cap: $133.7 Mil
Sector: Financials
Industry: Multi-Sector Holdings

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


0 Low stock price volatility
Vol 12M is 3.1%
Trading close to highs
Dist 52W High is -1.0%, Dist 3Y High is -1.0%
Key risks
TLNC key risks include [1] its inability to complete a business combination as a SPAC and [2] the reliance of its target energy sector on uncertain government policy and geopolitical stability.
1  Weak multi-year price returns
2Y Excs Rtn is -44%, 3Y Excs Rtn is -73%
 
0 Low stock price volatility
Vol 12M is 3.1%
1 Trading close to highs
Dist 52W High is -1.0%, Dist 3Y High is -1.0%
2 Weak multi-year price returns
2Y Excs Rtn is -44%, 3Y Excs Rtn is -73%
3 Key risks
TLNC key risks include [1] its inability to complete a business combination as a SPAC and [2] the reliance of its target energy sector on uncertain government policy and geopolitical stability.

Valuation, Metrics & Events

TLNC Stock


Why The Stock Moved


Qualitative Assessment

AI Analysis | Feedback

From October 31, 2025, to January 17, 2026, Talon Capital (TLNC) stock exhibited minimal movement, largely staying close to its initial public offering (IPO) price. This stagnation is attributable to several key factors:

1. Talon Capital operates as a Special Purpose Acquisition Company (SPAC) with no active business operations or revenue. The company's primary purpose is to identify and complete a merger, share exchange, asset acquisition, or similar business combination with one or more existing businesses. As of the specified period, it had no significant revenue and a negative net income, which typically means there are no fundamental operational drivers for significant stock price changes.

2. Absence of a Announced Business Combination. The stock price of a SPAC generally remains stable around its initial offering price until a definitive business combination or a target acquisition is announced. During the period from October 2025 to January 2026, Talon Capital did not disclose any significant developments or agreements regarding a potential merger or acquisition, thereby removing a major catalyst for stock price fluctuation.

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Stock Movement Drivers

Fundamental Drivers

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Market Drivers

10/31/2025 to 1/16/2026
ReturnCorrelation
TLNC0.0% 
Market (SPY)1.4%32.9%
Sector (XLF)4.0%13.3%

Fundamental Drivers

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Market Drivers

7/31/2025 to 1/16/2026
ReturnCorrelation
TLNC  
Market (SPY)9.7%23.2%
Sector (XLF)4.3%11.0%

Fundamental Drivers

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Market Drivers

1/31/2025 to 1/16/2026
ReturnCorrelation
TLNC  
Market (SPY)15.9%23.2%
Sector (XLF)6.9%11.0%

Fundamental Drivers

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Market Drivers

1/31/2023 to 1/16/2026
ReturnCorrelation
TLNC  
Market (SPY)76.5%23.2%
Sector (XLF)55.7%11.0%

Return vs. Risk


Price Returns Compared

 202120222023202420252026Total [1]
Returns
TLNC Return----2%-0%2%
Peers Return-37%-91%8%53%57%-12%-87%
S&P 500 Return27%-19%24%23%16%1%85%

Monthly Win Rates [3]
TLNC Win Rate----67%0% 
Peers Win Rate20%33%58%58%67%0% 
S&P 500 Win Rate75%42%67%75%67%100% 

Max Drawdowns [4]
TLNC Max Drawdown----0%-0% 
Peers Max Drawdown-41%-93%-43%-30%-55%-20% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%0% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: SRZN.
[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 1/16/2026 (YTD)

How Low Can It Go

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

Unique KeyEventXLFS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-26.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven36.7%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven525 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-43.3%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven76.5%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven295 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-26.1%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven35.2%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven338 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-83.7%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven515.2%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven4,470 days1,480 days

Compare to SRZN

In The Past

SPDR Select Sector Fund's stock fell -26.9% during the 2022 Inflation Shock from a high on 1/12/2022. A -26.9% loss requires a 36.7% gain to breakeven.

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Asset Allocation

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About Talon Capital (TLNC)

We are a newly organized blank check company or special purpose acquisition company, incorporated on May 1, 2025, as a Cayman Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any specific business combination target. To date, our efforts have been limited to organizational activities as well as activities related to this offering. Our efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although we intend to focus on target businesses in the energy and power industries. Our Sponsor and its principals may from time to time become aware of potential business opportunities, one or more of which we may desire to pursue, for a business combination, but from the date of our incorporation through the date of this prospectus, there have been no substantive discussions, directly or indirectly, between any of our officers, directors, promoters and other affiliates on our behalf and any of their contacts or relationships regarding a potential initial business combination with our company. Additionally, we have not engaged or retained any agent or other representative to identify or locate any suitable acquisition candidate for us. We will seek to capitalize on the significant experience and contacts of our management team to complete our initial business combination. Our management team is led by Charlie Leykum, our Chairman and Chief Executive Officer, who has more than 20 years of experience in the traditional and renewable energy sectors, and Gerald Cimador, our Chief Financial Officer, who has over 30 years of public and private accounting experience. Charles Leykum served as a director, and Gerald Cimador served as the Chief Financial Officer and Chief Accounting Officer, of Sentinel Energy Services Inc. (“Sentinel”), a former blank check company that raised $345 million in its initial public offering in November 2017. Our executive offices are located in Houston, TX.

AI Analysis | Feedback

Here are 1-2 brief analogies for Talon Capital (TLNC):

  • Talon Capital is like a middle-market focused KKR.
  • It's similar to Blackstone, but specializing in acquiring and growing mid-sized companies.

AI Analysis | Feedback

A major publicly traded company named "Talon Capital" with the ticker symbol "TLNC" and readily identifiable major products or services is not found.

The ticker "TLNC" is associated with Talon Capital Corp, an entity listed on the OTC Markets (Pink Sheets), which does not appear to be an actively reporting major public company with current, well-defined business operations or major products available in public records.

Therefore, I am unable to identify its major products or services as requested.

AI Analysis | Feedback

I am unable to identify a public company named "Talon Capital" with the stock symbol TLNC that has publicly disclosed major customers.

Searches across major financial databases (such as Bloomberg, Reuters, Yahoo Finance, Google Finance) and SEC filings did not yield information for a public company matching these specific details.

It is possible that:

  • The company is very small or privately held, and therefore does not have readily public customer information.
  • The provided stock symbol (TLNC) or company name ("Talon Capital") might be incorrect or refer to a different entity not easily identifiable as a public company in common financial databases.
  • The company might be fictional for the purpose of this request.

Without verifiable information about Talon Capital (TLNC), I cannot identify its major customers or categories of customers as requested.

AI Analysis | Feedback

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AI Analysis | Feedback

Charles Leykum, Chairman and Chief Executive Officer

Charles Leykum has more than 20 years of experience in the traditional and renewable energy sectors. He is the founder of CSL Capital Management. Leykum also served as a director of Sentinel Energy Services Inc., a former blank check company that completed its initial public offering in November 2017.

Gerald Cimador, Chief Financial Officer

Gerald Cimador possesses over 30 years of public and private accounting experience. He served as the Chief Financial Officer and Chief Accounting Officer of Sentinel Energy Services Inc.

Kyle Bratton, Vice President

Shawn Reynolds, Director

Thomas Simons, Director

AI Analysis | Feedback

Talon Capital Corp. (TLNC) is a Special Purpose Acquisition Company (SPAC) that completed its initial public offering in September 2025, with a stated focus on acquiring businesses within the energy and power industries. As such, its key business risks are primarily tied to its nature as a blank-check company seeking a business combination.

  1. Ability to Complete a Business Combination (De-SPAC Risk): The most significant risk for Talon Capital is its ability to successfully identify, acquire, and merge with a target company. As a SPAC, its entire purpose revolves around completing an initial business combination, and there is no guarantee that it will be able to do so. The broader de-SPAC market has experienced subdued activity in 2025, indicating ongoing execution challenges and potential difficulties in valuation agreements with target companies. A lack of concrete deal news can also contribute to soft sentiment among investors regarding SPACs.

  2. Reliance on Policy Support and Geopolitical Uncertainties in the Energy Sector: Talon Capital specifically targets companies within the energy and power sectors. These industries are often heavily influenced by government policies, such as tax credits for renewable energy. This reliance introduces a layer of geopolitical uncertainty, as changes in policy could negatively impact the attractiveness or viability of potential acquisition targets, and subsequently, the performance of the combined entity.

AI Analysis | Feedback

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AI Analysis | Feedback

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AI Analysis | Feedback

Talon Capital (TLNC) is a Special Purpose Acquisition Company (SPAC) that commenced operations in 2025, with a primary objective of completing a business combination with one or more operating entities. As such, its future revenue growth is contingent upon specific foundational events and the subsequent performance of the acquired business, rather than traditional operational drivers. Currently, the company is unprofitable and pre-revenue, with no analyst coverage to provide detailed forecasts for existing operations.

The key expected drivers of future revenue growth for Talon Capital over the next 2-3 years include:

  1. Successful Completion of a Business Combination (De-SPAC Transaction): The most critical driver for Talon Capital's future revenue is the successful identification and completion of a merger, share exchange, asset acquisition, or similar business combination. Until this de-SPAC transaction occurs, the company will not have an operating business to generate revenue.
  2. Performance and Growth of the Acquired Operating Company: Following a successful business combination, the revenue growth of Talon Capital will be directly driven by the operational performance and inherent growth strategies of the newly acquired entity. This will include factors such as increased sales, market share expansion, or product/service development within that acquired business.
  3. Capitalization on Long-Term Structural Tailwinds in U.S. Energy and Power Industries: Talon Capital has a stated strategic emphasis on targeting businesses within the energy and power industries, aiming to leverage long-term structural tailwinds in U.S. energy demand. The growth and profitability of the acquired entity will therefore be significantly influenced by its ability to capitalize on these favorable industry trends.

AI Analysis | Feedback

Share Issuance

  • Talon Capital Corp. closed its Initial Public Offering (IPO) on September 10, 2025, selling 24,900,000 units at $10.00 per unit, generating total gross proceeds of $249,000,000.
  • The IPO included the partial exercise by underwriters of their over-allotment option for an additional 2,400,000 units.
  • Concurrently with the IPO, Talon Capital completed a private placement of 779,000 units (530,000 to its sponsor and 249,000 to Cohen and Company Capital Markets) at $10.00 each, raising an additional $7,790,000 in gross proceeds.

Inbound Investments

  • Talon Capital received $7,790,000 in gross proceeds from a private placement of 779,000 units to its sponsor, Talon Capital Sponsor LLC, and Cohen and Company Capital Markets.

Outbound Investments

  • Talon Capital Corp. was formed as a Special Purpose Acquisition Company (SPAC) with the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses.
  • The company intends to focus its acquisition efforts on target businesses within the energy and power industries.
  • As of December 2025, Talon Capital is in a "Pre-Deal" status, indicating it has not yet completed its initial business combination.

Trade Ideas

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Peer Comparisons for Talon Capital

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Financials

TLNCSRZNMedian
NameTalon Ca.Surrozen  
Mkt Price10.0520.0015.03
Mkt Cap0.10.20.2
Rev LTM-44
Op Inc LTM--38-38
FCF LTM--21-21
FCF 3Y Avg--28-28
CFO LTM--21-21
CFO 3Y Avg--28-28

Growth & Margins

TLNCSRZNMedian
NameTalon Ca.Surrozen  
Rev Chg LTM--64.0%-64.0%
Rev Chg 3Y Avg---
Rev Chg Q--90.2%-90.2%
QoQ Delta Rev Chg LTM--71.4%-71.4%
Op Mgn LTM--1,055.6%-1,055.6%
Op Mgn 3Y Avg--535.3%-535.3%
QoQ Delta Op Mgn LTM--850.2%-850.2%
CFO/Rev LTM--581.3%-581.3%
CFO/Rev 3Y Avg--377.2%-377.2%
FCF/Rev LTM--583.8%-583.8%
FCF/Rev 3Y Avg--379.5%-379.5%

Valuation

TLNCSRZNMedian
NameTalon Ca.Surrozen  
Mkt Cap0.10.20.2
P/S-47.647.6
P/EBIT--4.5-4.5
P/E--2.0-2.0
P/CFO--8.2-8.2
Total Yield--50.7%-50.7%
Dividend Yield0.0%0.0%0.0%
FCF Yield 3Y Avg--83.0%-83.0%
D/E0.00.00.0
Net D/E-0.0-0.4-0.2

Returns

TLNCSRZNMedian
NameTalon Ca.Surrozen  
1M Rtn-0.8%-4.1%-2.4%
3M Rtn0.6%47.3%23.9%
6M Rtn1.5%135.8%68.7%
12M Rtn1.5%68.8%35.1%
3Y Rtn1.5%105.8%53.7%
1M Excs Rtn-2.9%-12.6%-7.8%
3M Excs Rtn-4.0%42.4%19.2%
6M Excs Rtn-8.7%125.6%58.5%
12M Excs Rtn-15.1%52.1%18.5%
3Y Excs Rtn-73.3%39.2%-17.1%

Financials

Short Interest

Short Interest: As Of Date12312025
Short Interest: Shares Quantity16,186
Short Interest: % Change Since 12152025-0.1%
Average Daily Volume1,686
Days-to-Cover Short Interest9.60
Basic Shares Quantity13,319,560
Short % of Basic Shares0.1%

SEC Filings

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Report DateFiling DateFiling
09/30/202511/14/202510-Q (09/30/2025)