Morning Update from SPAC Track
Pre-market recap of the action in the SPAC world for SPAC Track's premium subscribers. (May 31, 2022)
The Stats:
Pre-Market Movers:
Active Moves: SVFC -2.3%, NAAC +12.7%, LAX +2.6%
Some De-SPAC Moves: EVEX -1.4%, DAVE -3.4%, HYPR +3.3%
Previous Session Movers & Volume Leaders:
The Deals:
1) Mana Capital Acquisition Corp. (MAAQ) & Cardio Diagnostics (warrants +200% to $0.30 pre-market)
Cardio Diagnostics is a biotechnology company that makes cardiovascular disease prevention and early detection more accessible, personalized, and precise. The Company was formed to further develop and commercialize a proprietary Artificial Intelligence (AI)-driven Integrated Genetic-Epigenetic EngineTM (“Core Technology”) for cardiovascular disease to become one of the leading medical technology companies for enabling improved prevention, early detection, and assists in treatment of cardiovascular disease.
Valuation: $175M Pro-forma Equity Value
News:
U.S. Senator Warren plans bill to crack down on blank check deals (Reuters)
Swvl (SWVL) lays off a third of its workers to pursue profitability (Quartz)
EV Startup Electric Last Mile (ELMS) Warns It May Run Out of Cash in June (Bloomberg)
Updates:
Apollo Strategic Growth Capital (APSG) completes ierger with American Express Global Business Travel and the combined company will begin trading as “GBTG” on Tuesday, May 31
77,514,764 shares were redeemed or an estimated ~95% of the public SPAC shares
Blue Safari Group Acquisition Corp. (BSGA) & Bitdeer amend merger agreement to, among other things, extend the outside date from 5/31 to 9/1
Biotech Acquisition Company (BIOT) postpones shareholder meeting to approve its merger with Blade Therapeutics from 6/1 to 6/3
New SPACs (S-1s):
1) Inkstone Feibo Acquisition Sponsor LLC (Ticker N/A)
$60M, 1/2 Warrant
Focus: Biotech and green tech with an emphasis on ESG in the US and Taiwan
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De-SPAC S-1s (including PIPE resale registrations*):
S-1:
Prenetics (PRE)
S-4 Activity:
S-4:
Mana Capital Acquisition Corp. (MAAQ) & Cardio Diagnostics
S-4/A:
DPCM Capital, Inc. (XPOA) & D-Wave (2nd amendment)
Gores Holdings VIII, Inc. (GIIX) & Footprint (2nd amendment)
ArcLight Clean Transition Corp. II (ACTD) & OPAL Fuels (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,