Precap from SPAC Track
The Precap newsletter: SPAC Track’s morning recap of the action in the SPAC world for premium subscribers. (April 1, 2022)
The Stats:
Pre-Market Movers:
HLXA -9%, DWAC -4%, THCA +1.7%, PPGH +1.3%, CFVI +1.1%
Previous Session Movers & Volume Leaders:
The Deals:
1) 10X Capital Venture Acquisition Corp. II (VCXA) & PrimeBlock (Prime Blockchain) (warrants +4% pre-market)
PrimeBlock is a diversified infrastructure provider for blockchain technology that owns and operates a growing portfolio of proprietary data centers and crypto assets mining operations in North America. With community, sustainability, and performance serving as guiding principles, PrimeBlock aims to create social good and form bonds within the communities where it operates efficiently and sustainably.
Valuation: $1.32B EV
Additional Financing: “$300 million committed equity financing facility from Cantor Fitzgerald affiliate”
Updates:
Poema Global (PPGH) shareholders approve the merger with Gogoro, with the transaction raising at least $335M in gross proceeds
Closing is expected on 4/4 with ticker change to GGR on 4/5
Shareholders have until todahy at 5pm to withdraw redemptions.
Tuscan Holdings II Corp. (THCA) shareholders approve the extension of its deadline from 3/31/22 to 6/30/22
Shareholders redeemed appx 6.7M shares
Sponsor added $0.10 per share to trust
Queen’s Gambit Growth Capital (GMBT) completed its merger with Swvl. Will trade as SWVL starting today
The transaction raised ~$165M in gross proceeds
Helix Acquisition Corp (HLXA) shareholders approved the merger with MoonLake Immunotherapeutics
8M shares were redeemed or an estimated ~70% of the public SPAC shares
SCVX Corp. (SCVX) which previously announced a non-binding LOI with a “Company in the ESG space" terminated the LOI, and “is currently exploring alternative options for consummating a business combination”.
Additionally, as the company was previously delisted from the NYSE, the company has no plan to relist its securities on NYSE or another exchange
Merger Vote Set:
TradeUP Global Corp (TUGC) & SAITECH Limited (4/22/22)
New IPOs*:
1) Metal Sky Star Acquisition Corporation Announces Pricing of $100 Million Initial Public Offering (MSSA-U)
*announced pricing as of this writing
New SPACs (S-1s):
No new S-1s
Registration Withdrawals
M3-Brigade Acquisition IV Corp (MBD)
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De-SPAC S-1s (including PIPE resale registrations*):
No activity
S-4 Activity:
S-4/A:
26 Capital Acquisition Corp. (ADER) & Okada Manila (1st amendment)
Effective:
TradeUP Global Corp (TUGC) & SAITECH Limited
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,