Morning Update from SPAC Track
Pre-market recap of the action in the SPAC world for SPAC Track's premium subscribers. (June 24, 2022)
The Stats:
Pre-Market Movers*:
Active Moves (1%+): RICO +6.4%
Some De-SPAC Moves (5%+): GROV +11.7%, ADTH +10.1%, EMBK +5.3%, DAVE +5%; PGY -7.7%
*at time of this writing
Previous Session Movers & Volume Leaders:
The Deals:
No new deals
Updates:
Gores Guggenheim Inc. (GGPI) completed its merger with Polestar and will start trading as PSNY today
Final redemptions were ~20% of the public SPAC shares
Grove Collaborative (GROV) released redemption numbers for its merger with Virgin Group Acquisition Corp. II (VGII):
39,672,045 shares were redeemed or an estimated ~98.6% of the public SPAC shares
Fujian Frozen Goods Online Network Technology Co., Ltd, a Chinese B2B online frozen food distributor, issues a PR noting it plans to merge with a SPAC and “expects it will be listed on Nasdaq around the first quarter of 2023 at the earliest"
DPCM Capital, Inc. (XPOA) and D-Wave Quantum amend the merger agreement to, among other things, waive the deal’s minimum cash condition
In addition the company entered into a purchase agreement with Lincoln Park of up to $150M in the combined company’s common stock over a 36-month period
New SPACs (S-1s):
No new S-1s
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De-SPAC S-1s (including PIPE resale registrations*):
Effective:
Terran Orbital (LLAP)
S-4 Activity:
S-4/A:
ITHAX Acquisition Corp. (ITHX) & Mondee (6th amendment)
DPCM Capital, Inc. (XPOA) & D-Wave (3rd amendment)
Upcoming Dates:
Upcoming Announced Shareholder Meetings, Unit Splits, Warrant Redemptions
See the full calendar here.
SPAC Track Pro Notes:
Please note that a list of all the data points available on the Pro Screener with download eligibility can be found here: spactrack.io/screener-instructions
Thanks for reading,