Morning Update from SPAC Track
Pre-market recap of the action in the SPAC world for SPAC Track's premium subscribers. (June 10, 2022)
The Stats:
Pre-Market Movers*:
Active Moves (1%+): TCAC +4.1%
Some De-SPAC Moves (5%+): CTV +18.3%, FSRD +12.5%, ENJY +9.1%, SNTI -7.1%, FRGE -5.1%, VIEW -10.2%, WEJO -7.2%, HLBZ -5.1%
*at time of this writing
Previous Session Movers & Volume Leaders:
The Deals:
No new deals
News:
EV [De-]SPAC Faraday Future (FFIE) Now Has the Attention of the DOJ (TechCrunch)
Updates:
Silver Spike Acquisition Corp. II (SPKB) and Eleusis mutually agreed to terminate their merger “as a result of current unfavorable market conditions”
Silver Spike is entitled to receive shares or warrants in the event of certain Eleusis transactions
Benessere Capital Acquisition Corp. (BENE) and eCombustible amend the merger agreement, to among other things, add a minimum cash condition of $25M and to extend the outside date from 5/23 to 10/7
Tuatara Capital Acquisition Corporation (TCAC) shareholders approved the merger with SpringBig
19,123,806 shares were redeemed or an estimated ~96% of the public SPAC shares (estimated ~876k public SPAC shares remaining)
TCAC also had an up to 1M bonus share pool allocated for non-redeeming shareholders
Globis Acquisition Corp. (GLAQ) shareholders approved the merger with Forafric and the merger is now completed with the combined company trading as AFRI today
9,612,536 shares were redeemed or an estimated ~83% of the public SPAC shares
Forafric also entered into an FPA to purchase 1.5M shares at $10.80 per share from non-redeeming shareholders 3 months after closing
Isleworth Healthcare Acquisition Corp. (ISLE) and Cytovia amend their merger agreement to among other things eliminate “Isleworth’s satisfaction of the Minimum Cash Amount as a conditions to closing the Business Combination”
IPOs:
1) Acri Capital Acquisition Corporation Announces Pricing of $75 Million Initial Public Offering (ACAC-U)
New SPACs (S-1s):
No new S-1s
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De-SPAC S-1s (including PIPE resale registrations*):
S-1/A:
S-4 Activity:
S-4/A:
Silver Crest Acquisition Corporation (SLCR) & Tim Hortons China (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,