Precap from SPAC Track

The Precap newsletter: SPAC Track’s morning recap of the action in the SPAC world for premium subscribers. (April 29, 2022)

The Stats:

Pre-Market Movers

DWAC +10.7%, SV +3.4%, CFVI +2%, GGPI -1.1%

Previous Session Movers & Volume Leaders:

SPAC Track @SPACtrack

#SPACVolume Leaders (4/28/22) $CHEA-U 9.9M (New IPO) $CLRC-U 5.6M (New IPO) $DWAC 4.8M (+7.9%) $ENTF 2.6M $IMPX 2.6M $GGPI 2.2M $CPAR 1.8M $JYAC 1.8M $IPOF 1.7M $ACAQ 1.5M De-SPAC Movers: $SWVL +50% $ALLG +45% $ACHR +25% $ATPST -14.8% $ENJY -15.7% $SKYH -17.6%

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The Deals:

Yesterday afternoon deal:

1) Ignyte Acquisition Corp. (IGNY) & Peak Bio

Peak Bio is a clinical-stage biopharmaceutical company focused on developing therapeutics addressing significant unmet needs in the areas of oncology and inflammation. Peak Bio’s management team has a combined 50 years of industry experience in the areas of small molecules, antibodies, and antibody-drug-conjugates (ADC) forging successful companies that create best-in-class therapeutics.

• Valuation: $278M Pro-forma equity value

• PIPE: $25M including investments from Palo Alto Investors and Peak Bio’s CEO, Hoyoung Huh

• Press Release

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Updates:

• Spring Valley Acquisition Corp. (SV) shareholders approved the merger with NuScale Power

  • The merger raised ~$380M in gross proceeds and is expected to close on 5/2 with the ticker change to SMR on 5/3

  • 8.6M shares were redeemed or an estimated ~37% of the public SPAC shares

• Zanite Acquisition Corp. (ZNTE) and Eve UAM announce the merger is expected to close on 5/9, subject to approval at the shareholder meeting on 5/6

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New SPACs (S-1s):

1) Hudson Acquisition I Corp. (HUDA)

• $60M, 1 Right (1/8th of a share)

• UW: Chardan

Registration Withdrawals

• Space Acquisition Corp. I (OUTR)

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De-SPAC S-1s (including PIPE resale registrations*):

S-1/A:

• Sky Harbour (SKYH)

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S-4 Activity:

S-4/A:

• Apollo Strategic Growth Capital (APSG) & American Express Global Business Travel (4th amendment)

• Quantum FinTech Acquisition Corporation (QFTA) & TradeStation (1st amendment)

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Upcoming Dates:

Upcoming Announced Shareholder Meetings, Unit Splits, Warrant Redemptions

See the full calendar here.

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SPAC Track Pro Updates:

New Data Points and Filters have been added to the Pro Screener as of 4/26:

New Data Points: Estimated $ Discount/premium to trust value per share, Estimated % Disc/prem to trust value per share

New Filters: Deadline approaching within 1-4 months

**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

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Thanks for reading,

SPAC Track

spactrack.io

DISCLAIMER: The information provided in this newsletter is for your convenience only and is not intended to be treated as financial, investment, tax, or other advice. SPAC Track and its parent, CommonFi, do not make any guarantees, representations, or warranties as to, and shall have no liability for, the timeliness, truthfulness, sequence, quality, completeness, or accuracy of any of the information or data provided in this newsletter or on the SPAC Track website.