Precap from SPAC Track
The Precap newsletter: SPAC Track’s morning recap of the action in the SPAC world for premium subscribers. (May 11, 2022)
The Stats:
Pre-Market Movers:
DWAC -0.7%
Previous Session Movers & Volume Leaders:
The Deals:
No new deals announced
News:
Car-Sharing Startup Getaround Nears InterPrivate SPAC Merger
Getaround, a car-sharing marketplace that functions as an Airbnb for vehicles, has agreed to go public through a merger with InterPrivate II Acquisition Corp. (IPVA), a special purpose acquisition company, according to people with knowledge of the matter.
A transaction that gives the combined company an equity value of about $1.2 billion, if there are no redemptions, may be unveiled as soon as Wednesday, said the people, who requested anonymity.
Getaround founder and Chief Executive Officer Sam Zaid will lead the company, which is set to trade on the New York Stock Exchange with the ‘GETR’ ticker, the people said. Getaround investors including SoftBank Vision Fund, Menlo Ventures, Reinvent Capital, and actor Ashton Kutcher are poised to remain owners of the combined entity.
SPAC Retreat Shows Wall Street Awakens to Risk, Gensler Says (Bloomberg)
Chicken Soup for the Soul Entertainment (CSSE) to Acquire Redbox RDBX
Redbox stockholders will receive a fixed exchange ratio of 0.087 of a share of class A common stock of Chicken Soup for the Soul Entertainment per Redbox share. Following the close of the transaction, Chicken Soup for the Soul Entertainment stockholders will own approximately 76.5% of the combined company, and Redbox stockholders will own approximately 23.5% of the combined company, on a fully diluted basis.
Updates:
Lionheart Acquisition Corporation II (LCAP) announced a dividend in the form of 1.029B warrants pro-rata to non-redeeming shareholders in connection with its merger with MSP Recovery
Merger vote set:
IPOs*:
1) Monterey Capital Acquisition Corporation Announces Pricing of $80,000,000 Initial Public Offering (MCAC-U)
*announced pricing as of this writing
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:
Dynamics Special Purpose Corp. (DYNS) & Senti Bio (3rd amendment)
Effective:
RedBall Acquisition Corp. (RBAC) & SeatGeek
Oaktree Acquisition Corp. II (OACB) & Alvotech
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,