The Nightcap

Nightly recap of all the day's SPAC highlights (Feb 9th, 2021)

February 9th, 2021

Good evening,

Thanks for reading “The Nightcap”, a nightly recap of all the day’s highlights in the SPAC world. In this newsletter, you will find a breakdown of the day’s deals, IPO’s, “in talks” reports, and noteworthy new SPAC S-1 filings.

Of course, you can always discover and track all of the SPACs at spactrack.net.

The SPAC Market Stats:

We now officially have 400 Active SPACs… 326 of which are searching for a merger partner or have not yet announced a definitive agreement.

Volume Leaders:

Top Gainers:

Top Losers:

The Deals:

1) Decarbonization Plus Acquisition Corp (DCRB) & Hyzon Motors Inc., a hydrogen fuel cell truck company.

• $2.1B EV

• $400M PIPE including an investment from funds and accounts managed by BlackRock

• DCRB closed the day at $16.04 (-9.6%)

Deal News Reports:

Forest Road Acquisition Corp (FRX) is said to merge with Beachbody and Myx Fitness at a combined valuation of $3B, according to WSJ.

• The SPAC features Thomas Staggs (Former COO of Disney) and Kevin Mayer (Former CEO of TikTok) as Directors and Shaquille O’Neal as a strategic advisor.

SPAC Track @SPACtrack

$FRX to merge with Beachbody, fitness & nutrition company, and Myx Fitness, home cycling company, at a combined valuation of nearly $3B, according to WSJ.

wsj.comFitness and Nutrition Companies to Combine in $3 Billion SPAC MergerBeachbody will combine in a three-way merger with blank-check company Forest Road Acquisition Corp. and Myx Fitness, which makes connected bicycles

Today’s Notable IPO’s:

1) Lazard Growth Acquisition Corp. I (LGAC.U) — will trade tomorrow

• $500M, 1/5 warrant

• Focus: Healthcare, Tech, Energy Transition, Financial, Consumer

2) Apollo Strategic Growth Capital II (APGB.U) — will trade tomorrow

• $600M, 1/5 warrant

• Apollo Strategic Growth I (APSG) was said to be in talks with Solera Holdings, a risk management data and software provider, according to Bloomberg last week. APSG closed the day at $10.85

Notable New SPAC S-1 filings:

1) Mission Advancement Corp. (Ticker not available)

• $250M, 1/3 warrant

• Focus: “the intersection of consumer and impact”

• CEO and Co-Chairman:

  • Jahm Najafi (CEO of The Najafi Companies)

• Co-Chairman:

  • Colin Kaepernick (Former NFL Quarterback, Director of Medium, Founder of Kaepernick Publishing)

• Director:

  • Katia Beauchamp (Co-founder and CEO of Birchbox)

2) NightDragon Acquisition Corp. (NDAC)

• $300M, 1/3 warrant

  • The units are referred to as “SCALE (Stakeholder-Centered Aligned Listed Equity) Units”

• Focus: Cybersecurity, Safety, Security and Privacy (CSSP)

• Chairman:

  • Dave DeWalt (Former Chairman & CEO of FireEye and Former CEO of McAfee)

• Vice Chairman:

  • Mark Garrett (Former CFO of Adobe and Director of Cisco and Snowflake)

3) Rocket Internet Growth Opportunities Corp. (RKTA)

• $250M, 1/4 warrant

• Focus: Tech, Non-US

• Chairman:

  • Oliver Samwer (Co-Founder and CEO of Rocket Internet)

Upcoming Dates:

Tomorrow’s Unit Splits (common shares and warrants to commence trading separately from underlying units):

• Seven Oaks Acquisition Corp (SVOK)

SPACs Leaving the Nest:

• INSU Acquisition Corp. II (INAQ) shareholders approved its business combination with Metromile

• Panacea Acquisition (PANA) shareholders approved its business combination with Nuvation Bio

• Mountain Crest Acquisition Corp (MCAC) shareholders approved its business combination with Playboy

Thank you for reading.

Thanks,

SPAC Track

spactrack.net