Precap from SPAC Track
The Precap newsletter: SPAC Track’s morning recap of the action in the SPAC world for premium subscribers. (April 8, 2022)
The Stats:
Pre-Market Movers:
THCA +1.7%, DWAC +1%
Previous Session Movers & Volume Leaders:
The Deals:
No new deals
News:
Dune SPAC Sues TradeZero for ‘Outright Falsehoods’ About Merger (Bloomberg Law)
Dune Acquisition Corp. (DUNE) and its backers filed suit in Delaware, claiming brokerage platform TradeZero Holding Corp. duped them into a $556 million reverse merger before “trying to run out the clock on the transaction” and stick the blank-check company with the substantial cost of calling it off.
The lawsuit, made public late Wednesday, accuses TradeZero and its senior leaders of defrauding Dune into the deal with bogus financial figures and “stonewalling” its request for an update before pulling a “last-minute bait and switch” that completely undermined the merger’s logic.
More:
AI-based content firm Instoried raises $200 mn from GEM, seeks to go public (Business Standard)
Spac dealmakers sweeten terms to stem investor flight (FT)
Updates:
Merger Vote Set: Spring Valley Acquisition Corp. (SV) & NuScale Power (4/28)
New SPACs (S-1s):
No new S-1s
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De-SPAC S-1s (including PIPE resale registrations*):
No activity
S-4 Activity:
S-4/A:
Lionheart Acquisition Corp. II (LCAP) & MSP Recovery (4th amendment)
Effective:
Spring Valley Acquisition Corp. (SV) & NuScale Power
Upcoming Dates:
Upcoming Announced Shareholder Meetings, Unit Splits, Warrant Redemptions
See the full calendar here.
Notes:
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,