Morning Update from SPAC Track
Pre-market recap of the action in the SPAC world for SPAC Track's premium subscribers. (June 27, 2022)
The Stats:
Pre-Market Movers*:
Active Moves (1%+): DWAC -9.5%
Some De-SPAC Moves (5%+): ML +14.6%, BOXD +11.6%, HOFV +8.3%, RMO +8.1%, VORB +6.5%, AVCT +5.3%, RGTI +5.3%, NUVB -13.1%
*at time of this writing
Previous Session Movers & Volume Leaders:
The Deals:
No new deals
News:
Bird (BRDS) gets a warning from the NYSE because its stock price is too low (TechCrunch)
Updates:
Silver Crest Acquisition Corporation (SLCR) and Tim Horton’s China amend their merger agreement, to extend the outside date to 8/30
Northern Lights Acquisition Corp. (NLIT) announces it has postponed the shareholder meeting to vote on its merger with Safe Harbor Financial to today, 6/27, from its initial date of 6/24
Kalera announces, subject to satisfaction of closing conditions, that it expects its merger with Agrico Acquisition Corp. (RICO) to close on 6/28 with the combined company to begin trading on 6/29
Digital World Acquisition Corp. (DWAC) files an 8-K noting that on 6/24 it received “a grand jury subpoena with substantially similar requests” to the earlier subpoenas from the SEC and a federal grand jury in the Southern District of NY
DWAC notes: “These subpoenas, and the underlying investigations by the Department of Justice and the SEC, can be expected to delay effectiveness of the Registration Statement, which could materially delay, materially impede, or prevent the consummation of the Business Combination.”
DWAC issued a PR statement on the 8-K: “TMTG is focused on reclaiming the American people's right to free expression. Every day, our team works tirelessly to sustain Truth Social’s rapid growth, onboard new users, and add new features. We encourage—and will cooperate with—oversight that supports the SEC's important mission of protecting retail investors.”
New SPACs (S-1s):
No new S-1s
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De-SPAC S-1s (including PIPE resale registrations*):
S-1/A:
Swvl (SWVL)
Fast Radius (FSRD)
Effective:
Comera Life Sciences (CMRA)
S-4 Activity:
S-4/A:
Founder SPAC (FOUN) & Rubicon Technologies (4th amendment)
Vickers Vantage Corp. I (VCKA) & Scilex Holding Company, a Sorrento Therapeutics Inc. Subsidiary (1st amendment)
Global SPAC Partners Co. (GLSPT) & Gorilla Technology Group (5th 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,