Morning Update from SPAC Track
Pre-market recap of the action in the SPAC world for SPAC Track's premium subscribers. (July 11, 2022)
The Stats:
Pre-Market Movers*:
Active Moves (1%+): DWAC +14.2% // DNAC -5% -5.8%
Some De-SPAC Moves (5%+): EOSE -5.6%, SYM -5.6%, HYMC -5.5%
*at time of this writing
Previous Session Movers & Volume Leaders:
The Deals:
No new deals
News:
Tanzanian entrepreneur Dewji plans $2-4 billion grains production investment via SPAC (Reuters)
The head of one of Tanzania's biggest firms, Mohammed Dewji, said he plans to float an agriculture company worth up to $4 billion in New York or London next year, with money raised mainly from development banks.
Russia's invasion of Ukraine in February sent global grain and fertiliser prices soaring, though they have retreated in recent weeks. Inflation has subsequently risen in many African countries.
Dewji, 47, whose family conglomerate MeTL Group employs tens of thousands, said the new company will produce grains and edible oils in Tanzania, Mozambique, Zambia and the Central African Republic.
"This is a fantastic way to bring food security... with the potential to feed ourselves and feed the world," he told Reuters in an interview in London on Thursday.
He said he aimed to structure the venture, for which he has yet to secure land, as a special purpose acquisition company (SPAC) and would himself put up $400 million as 10% to 20% of total funding.
A new way iconic brands like Procter & Gamble, Nokia are cashing in on R&D moonshots (CNBC)
Updates:
Global SPAC Partners Co. (GLSPT) and Gorilla Technology Group announce the confirmation of a $41.9M PIPE financing of 4.15M subunits at $10.10 per subunit and that Gorilla has waived the $50M min. cash condition
Social Capital Suvretta Holdings Corp. III (DNAC) adjourned its shareholder meeting to vote on its merger with ProKidney to today, 7/11
New SPACs (S-1s):
No new S-1s
Registration Withdrawals
Transformational CPG Acquisition Corp. (TCPG)
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De-SPAC S-1s (including PIPE resale registrations*):
S-1:
Forafric Global (AFRI)
Effective:
Swvl (SWVL)
S-4 Activity:
S-4/A:
DPCM Capital, Inc. (XPOA) & D-Wave (4th amendment)
Executive Network Partnering Corp. (ENPC) & Granite Ridge Resources (Grey Rock oil and gas assets) (1st amendment)
Provident Acquisition Corp. (PAQC) & Perfect Corp (2nd amendment)
AEA-Bridges Impact Corp. (IMPX) & LiveWire (4th amendment)
Golden Path Acquisition Corp (GPCO) & MC Hologram (6th amendment)
Delwinds Insurance Acquisition Corp (DWIN) & FOXO Technologies (2nd 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,