Precap from SPAC Track
The Precap newsletter: SPAC Track’s morning recap of the action in the SPAC world for premium subscribers. (Feb 11, 2022)
FYI: All of the data points available for SPAC Track Pro users can now be found here: spactrack.io/screener-instructions
The Stats:
Pre-Market Movers:
ACAH -1.9%, NXU +2.2%
Yesterday’s Movers and Volume Leaders:
The Deals:
No deals today.
Merger Votes/ Completions/ Terminations:
Atlantic Coastal Acquisition Corp. (ACAH) and Essentium mutually terminated their business combination and ACAH will search for another target
The termination agreement included provisions for ACAH to receive compensation in the form of cash or warrants for Essentium shares based on future Essentium financing transactions
Novus Capital Corporation II (NXU +10.7%) shareholders approved the merger with Energy Vault with closing expected on 2/11 and ticker change to NRGV on 2/14
Growth Capital Acquisition Corp. (GCAC -14.2%) completed its merger with Cepton Technologies and will begin trading as CPTN today
Leafly (LFLY) released the redemption results from its merger with Merida Merger Corp I (MCMJ)
4.9M shares were redeemed (an estimated ~54% of the public SPAC shares)
Another ~4M shares were redeemed in the extension votes on 10/29 and 12/22, bringing the total shares redeemed to 8.9M (an estimated ~68% of the public SPAC shares)
BRC (Black Rifle Coffee) (BRCC +30.2%) released the redemption results from its merger with SilverBox Engaged Merger Corp I (SBEA)
26.9M shares were redeemed (an estimated ~78% of the public SPAC shares)
Merger Vote Set:
Spartan Acquisition Corp. III (SPAQ) & Allego (3/8)
Other Updates:
Global SPAC Partners Co. (GLSPT) and Gorilla Technology Group announced that they have entered into agreements for $50.5M in PIPE investments
The PIPE consists of of subunits of GLSPT at $10.10 per subunit
Financial Restatements Expected to Drop Off After 2021’s SPAC Surge (WSJ)
IPOs*:
1) HNR Acquisition Corp Announces Pricing of $75,000,000 Initial Public Offering (HNRA-U)
2) Relativity Acquisition Corp. Announces Pricing of $125 Million Initial Public Offering (RACY-U)
3) Jaguar Global Growth Corporation I Announces Pricing of $200,000,000 Initial Public Offering (JGGC-U)
4) Signal Hill Acquisition Corp ( SGHL) Announces Pricing of $100 Million Initial Public Offering (SGHL-U)
*Announced pricing as of this writing
New SPACs (S-1s):
No new S-1s
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De-SPAC S-1s (including PIPE resale registrations*):
S-1/A filings:
BigBear.AI (BBAI) (Thursday)
Thayer Ventures Acquisition Corp (TVAC) / Inspirato
Effective:
Composecure (CMPO)
*When applicable
S-4 Activity:
S-4 filings:
Tuatara Capital Acquisition Corporation (TCAC) & SpringBig (Thursday)
Abri SPAC I, Inc. (ASPA) & Apifiny
S-4/A filings:
MedTech Acquisition Corporation (MTAC) & Memic Innovative Surgery (4th amendment) (Thursday)
Artisan Acquisition Corp. (ARTA) & Prenetics (5th amendment) (Thursday)
Far Peak Acquisition Corporation (FPAC) & Bullish (3rd amendment) (Thursday)
Aurora Acquisition Corp. (AURC) & Better (4th amendment)
Effective:
Spartan Acquisition Corp. III (SPAQ) & Allego
Upcoming Dates:
Upcoming Announced Shareholder Meetings, Unit Splits, Warrant Redemptions, Earnings
See the full calendar here.
Thanks for reading,