Precap from SPAC Track
The Precap newsletter: SPAC Track’s morning recap of the action in the SPAC world for premium subscribers. (May 12, 2022)
The Stats:
Pre-Market Movers:
DWAC -3.5%, CFVI -1.2%, OMEG -1%, ARTA +2.2%
Previous Session Movers & Volume Leaders:
Earnings*:
Yesterday After-Close: ENVX
This Morning: UTZ, IS, GENI, UPH, BIOX, BRCC, BKKT, PCT, WE
*De-SPACs completed 2019- per Earnings Whispers
The Deals:
Yesterday late morning deal:
1) InterPrivate II Acquisition Corp. (IPVA) & Getaround (warrants +0.6% at yesterday’s close)
Getaround connects safe, convenient and affordable cars with people who need them to live and work. We are the world's first carsharing marketplace offering a 100% digital experience with proprietary technology and data that make sharing vehicles superior to owning them. Our community includes guests who rely on our cars for on-demand mobility 24/7, and hosts who share cars on our platform including those who operate their own car sharing businesses. Founded in 2009, today Getaround is active in over 950 cities worldwide.
Valuation: $1.2B Pro-forma Equity Value
Additional Financing: Convertible note commitment of up to $175M provided by affiliates of Mudrick Capital Management
2) Kensington Capital Acquisition Corp. IV (KCAC) & Amprius Technologies (warrants +5.3% pre-market)
Amprius Technologies, Inc. is a leading manufacturer of high-energy and high-power lithium-ion batteries producing the industry's highest energy density cells. The company's corporate headquarters is in Fremont, California where it maintains an R&D lab and a pilot manufacturing facility for the fabrication of silicon nanowire anodes and cells.
Valuation: $939M Pro-forma Equity Value
Additional Financing: up to $200 million in additional equity financing to be raised prior to the closing of the business combination
News:
Lordstown Motors (RIDE) closes $230 million deal to sell its Ohio factory to Foxconn, injecting needed cash days before deadline (CNBC)
Updates:
ArcLight Clean Transition Corp. II (ACTD), announced that investors comprising $110.8M in PIPE investments, or appx 89%, have entered into amendments extending the termination date for the PIPE subscriptions in connection with its merger with Opal Fuels
New SPACs (S-1s):
No new S-1s
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De-SPAC S-1s (including PIPE resale registrations*):
Effective:
Cepton Technologies (CPTN)
Core Scientific (CORZ)
S-4 Activity:
S-4/A:
Tuatara Capital Acquisition Corporation (TCAC) & SpringBig (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,