Precap from SPAC Track
The Precap newsletter: SPAC Track’s morning recap of the action in the SPAC world for premium subscribers. (March 1, 2022)
The Stats:
Pre-Market Movers:
CFVI -1.1%, SNII +0.9%
Yesterday’s Movers and Volume Leaders:
Volume Leaders:
DWAC 3.5M, GGPI 2.2M, IPOF 2.0M, OEPW 1.6M, ASZ 1.5M, CFVI 1.1M, ITQ 1M, FTAA 1M, HTPA 0.7M, MOTV 0.7M
The Deals:
No new deals today.
Merger Votes/ Completions:
Supernova Partners Acquisition Company II, Ltd. shareholders approved the merger with Rigetti Computing with closing expected on 3/2 and ticker change to RGTI expected on 3/2
Redemptions left $114M in the trust, implying an estimated ~67% of public SPAC shares were redeemed
Other Updates:
Caravelle, “a global carbon-neutral ocean-going technology company”, has signed a letter of intent with Pacifico Acquisition Corp. (PAFO) on 12/31, apparently
Bridgetown 2 Holdings Limited (BTNB) announced that FWD’s subsidiaries, FWD Life Insurance Public Company Limited and FWD Fuji Life Insurance Company Limited, will vote in favor of the merger with PropertyGuru and will not redeem their shares
Richard Li, the SPAC sponsor and founder of Pacific Century holds indirect majority ownership of the FWD entities
SPK Acquisition Corp. (SPK) files the investor presentation for its merger with Varian Biopharmaceuticals, which was previously announced, on 2/14
Lucid (LCID) Sinks After Cutting Production Goal on Commodity Woes (Bloomberg)
IPOs*:
1) Valuence Merger Corp. I Announces Pricing of $200,000,000 Initial Public Offering (VMCA-U)
*Announced pricing as of this writing
New SPACs (S-1s):
1) Makara Strategic Acquisition Corp. (MKAR)
$250M, 1 Warrant
Focus: Natural resources, clean energy or energy storage sectors in the Americas, Europe, or Asia
Management:
Amin Badr-El-Din (Founder and Chairman of BADR Investments, Former Chairman and CEO to the UAE Offsets Group, also known as Mubadala)
2) Denali Capital Acquisition Corp. (DECA)
$75M, 1/2 Warrant
Focus: Tech, hospitality, or consumer services
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De-SPAC S-1s (including PIPE resale registrations*):
No activity
S-4 Activity:
No activity
Upcoming Dates:
Upcoming Announced Shareholder Meetings, Unit Splits, Warrant Redemptions
See the full calendar here.
Notes:
All the Pro data points on the Pro Screener along with export eligibility can be found here: spactrack.io/screener-instructions
Thanks for reading,