Precap from SPAC Track

The Precap newsletter: SPAC Track’s morning recap of the action in the SPAC world for premium subscribers. (April 20, 2022)

The Stats:

Pre-Market Movers

HUGS -2%, ESSC -1%, CFVI -1%, SV +1.9%

Previous Session Movers & Volume Leaders:

SPAC Track @SPACtrack

#SPACVolume Leaders (4/19/22) $IPOF 11.4M $IPOD 3.5M $GGPI 2M $SV 1.8M $PSTH 1.7M $DWAC 2M $ARCK 1.2M $HTAQ 1.2M $VCXB 1.2M $ZNTE 1.2M

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The Deals:

No new deals

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Updates:

• Alvotech and Oaktree Acquisition Corp. II (OACB) secure up to $250M in financing to backstop redemptions: a binding term sheet for $75-$125M in debt from Sculptor and $150M equity financing from Yorkville

  • The parties also agreed to reduce the min. cash condition so that it is satisfied by the PIPE proceeds and new financing

• Tuatara Capital Acquisition Corporation (TCAC) and SpringBig amend the merger agreement to, among other things, reduce SpringBig’s valuation from $245 to $215M

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IPOs*:

1) Yotta Acquisition Corporation Announces Pricing of $100 Million Initial Public Offering on Nasdaq (YOTA-U)

*priced as of this writing

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New SPACs (S-1s):

No new S-1s

Registration Withdrawals

• Laris Media Acquisition Corp (LRIS)

• Avanea Energy Acquisition Corp. (AVEA)

• Gateway Strategic Acquisition Co (GCSA)

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De-SPAC S-1s (including PIPE resale registrations*):

No activity

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S-4 Activity:

S-4/A:

• Oaktree Acquisition Corp. II (OACB) & Alvotech (4th amendment)

• Crown PropTech Acquisitions (CPTK) & Brivo (2nd amendment)

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Upcoming Dates:

Upcoming Announced Shareholder Meetings, Unit Splits, Warrant Redemptions

See the full calendar here.

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SPAC Track Pro Updates:

New Data Points, Filters, and a new table view have been added to the Pro Screener as of 4/14:

Votes / Actions View: A downloadable table view to quickly access upcoming vote details, trust per share details, disc/prem to trust, & other relevant data points

New Data Points: Disc/prem to trust (Votes/Action View) and Merger Partner Geography (Deal Details View)

New Filters: Warrant Coverage, Upcoming Vote (definitive merger or extension vote scheduled), Merger Partner Geography

**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

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Thanks for reading,

SPAC Track

spactrack.io

DISCLAIMER: The information provided in this newsletter is for your convenience only and is not intended to be treated as financial, investment, tax, or other advice. SPAC Track and its parent, CommonFi, do not make any guarantees, representations, or warranties as to, and shall have no liability for, the timeliness, truthfulness, sequence, quality, completeness, or accuracy of any of the information or data provided in this newsletter or on the SPAC Track website.