Precap from SPAC Track
The Precap newsletter: SPAC Track’s morning recap of the action in the SPAC world for premium subscribers. (April 27, 2022)
The Stats:
Pre-Market Movers
TUGC +7.5%, SV +4.9%, DWAC +3.8%
Previous Session Movers & Volume Leaders:
The Deals (1):
Yesterday afternoon deal:
1) Isleworth Healthcare Acquisition Corp. (ISLE) & Cytovia Therapeutics
Cytovia Therapeutics aims to accelerate patient access to transformational cell therapies and immunotherapies, addressing several of the most challenging unmet medical needs in cancer. Cytovia focuses on harnessing the innate immune system by developing complementary and disruptive NK-cell and NK-engager antibody platforms. The company is developing three types of iPSC-derived (or iNK) cells: unedited iNK cells, TALEN® gene-edited iNK cells with improved function and persistence, and TALEN® gene-edited iNK cells with chimeric antigen receptors (CAR-iNKs) to improve tumor-specific targeting. The second complementary cornerstone technology is a quadrivalent multifunctional antibody platform designed to engage natural killer cells by targeting NKp46 using Cytovia’s proprietary Flex-NK™ technology.
Valuation: $367M Pro-forma EV
PIPE: $20M
News:
EV-Charging Startup FreeWire Raises $125 Million From Investors Including BlackRock (WSJ)
FreeWire was close to announcing its own SPAC deal last year that would have valued it at roughly $1 billion before a market reversal killed the merger, Mr. Sosinov said. He now anticipates taking the company public through a traditional IPO in the next 18 months.
Updates:
Brookline Capital Acquisition Corp. shareholders approved the deadline extension from 5/2/22 on a monthly basis up to 11/2/22
688k shares were redeemed (~12% of the public SPAC shares) resulting in $51.1M remaining in trust
Spring Valley Acquisition Corp. (SV) announces that, 8.6M shares have been redeemed or ~37.5% of the public SPAC shares, ahead of its merger vote with NuScale Power
New SPACs (S-1s):
No new S-1s
Registration Withdrawals
Queen's Gambit Growth Capital II (QWNB)
Graf Acquisition Corp. II (GTOO)
Siddhi Acquisition Corp (SDHI)
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De-SPAC S-1s (including PIPE resale registrations*):
No activity
S-4 Activity:
S-4/A:
DPCM Capital, Inc. (XPOA) & D-Wave (1st amendment)
ITHAX Acquisition Corp. (ITHX) & Mondee (1st amendment)
Waldencast Acquisition Corp. (WALD) & Obagi & Milk Makeup (3rd amendment)
Upcoming Dates:
Upcoming Announced Shareholder Meetings, Unit Splits, Warrant Redemptions
See the full calendar here.
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
Thanks for reading,