Precap from SPAC Track
The Precap newsletter: SPAC Track’s morning recap of the action in the SPAC world for premium subscribers. (May 9, 2022)
The Stats:
Pre-Market Movers:
ZNTE +12%, ESSC +1.7%, DWAC -5%, AXAC -5%, CFVI -2.6%, GGPI -2%, BREZ -1.8%, THCA -1.3%
Previous Session Movers & Volume Leaders:
SPAC Volume Leaders (05/06/22)
RENE-U 20.7M, AVAN 5.0M, GGPI 2.4M, PSTH 2M, IPOF 2M, DWAC 2M, CFVI 1.9M, HZON 1.7M, AAC 1.7M, PRPB 1.7M
The Deals:
No new deals
News:
Chelsea FC Agrees $5.2B Sale to Consortium Led by DraftKings Investor Todd Boehly (Casino.org)
Gett valuation plummets to $265 million as company faces uncertain future (Calcalist)
SEC Official Behind 1,000 Restatements Has Unusual Title: Acting (Bloomberg Tax)
CFA Institute calls for tougher disclosure rules for Spac sponsors (FT)
Updates:
Zanite Acquisition Corp (ZNTE) shareholders approved the merger with Eve
~21M shares were redeemed or an estimated ~91% of the public SPAC shares
Closing is expected to be on 5/9/22 with the ticker change to EVEX on 5/10/22
Maquia Capital Acquisition Corporation (MAQC) announces it extended its deadline from 5/7/22 to 8/7/22 by depositing $0.10 per public SPAC share into the trust
AGBA Acquisition Limited (AGBA) and TAG Holdings amended the merger agreement to, among other things, extend the outside date from 4/30/22 to 10/31/22
Breeze Holdings Acquisition Corp. (BREZ) shareholders approved the deadline extension from 5/25/22 to 9/26/22
~6.7M shares were redeemed leaving $49.3M in the trust
Far Peak Acquisition Corporation (FPAC) and Bullish amend the merger agreement to extend the outside date to 7/8/22
New SPACs (S-1s):
1) Arago Acquisition Corp. (ARAG)
$75M, 1 Warrant
Focus: Latin America
Management: Javier Teruel (Former Vice Chairman of Colgate-Palmolive, Director of Starbucks, Former Director of Nielsen)
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De-SPAC S-1s (including PIPE resale registrations*):
S-1/A:
Quanergy Systems (QNGY)
Effective:
Energy Vault (NRGV)
S-4 Activity:
S-4/A:
SVF Investment Corp. 3 (SVFC) & Symbotic (3rd amendment and 4th amendment)
Globis Acquisition Corp. (GLAQ) & Forafric (3rd amendment)
Concord Acquisition Corp (CND) & Circle (3rd amendment)
North Mountain Merger Corp. (NMMC) & Corcentric (2nd amendment)
Ventoux CCM Acquisition Corp (VTAQ) & Presto (2nd amendment)
EJF Acquisition Corp. (EJFA) & Pagaya Technologies (1st amendment)
ArcLight Clean Transition Corp. II (ACTD) & OPAL Fuels (3rd amendment)
Biotech Acquisition Company (BIOT) & Blade Therapeutics (4th amendment)
Golden Path Acquisition Corp (GPCO) & MC Hologram (4th 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,