The Nightcap
Nightly recap of the day's SPAC highlights (March 9th, 2021)
March 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:
The Deals:
1) dMY Technology Group, Inc. III (DMYI) & IonQ, the "first publicly traded pure-play quantum computing company".
$1.38B EV
$350M PIPE including investments from Silver Lake, Breakthrough Energy Ventures, MSD Partners, L.P., Hyundai Motor Company, and Kia Corporation
DMYI closed the day at $10.90 (-14.17%)
2) New Beginnings Acquisition Corp. (NBA) & Airspan Networks, a 5G software and hardware company.
$822M EV
$75M PIPE including investments from SoftBank Group and Dish Networks
NBA closed the day at $10.10 (+0.90%)
3) NewHold Investment Corp (NHIC) & Evolv Technology, an AI-Enabled security screening company backed by Bill Gates, Lux Capital, and General Catalyst.
$1.33B EV
$300M PIPE including investments from Motorola Solutions, Eldridge, Peyton Manning & Andre Agassi
NHIC closed the day at $10.38 (+3.49%)
Deal News Reports:
1) Motion Acquisition Corp (MOTN) is said to have struck a merger deal with Ambulnz, “a provider of mobile medical services & patient transportation”, at a $1.1B valuation, per Bloomberg.
Notable IPO’s to begin trading tomorrow:
1) Peridot Acquisition Corp. II (PDOT.U)
$360M, 1/5 warrant
Focus: Environmental Sustainability, Industrial (Greenhouse gas reduction)
Sponsor’s Previous SPAC to Announce a Deal: Peridot Acquisition Corp. (PDAC) announced a merger deal with Li-Cycle last month. PDAC closed the day at $10.60.
2) and 3) SVF Investment Corp. 2 (SVFB) and 3 (SVFC)
Focus: Tech
Sponsor: SoftBank Investment Advisers, investment manager to the SoftBank Vision Funds
SVFB: $200M, no warrants
SVFC: $280M, no warrants
Notable S-1 Filings:
1) Chardan NexTech Acquisition 2 Corp. (CNTQ)
$100M, 1/3 warrant
Focus: Healthtech, Fintech
Chairman: Kerry Propper (Co-founder & Former CEO of Chardan)
CFO: Steven Urbach (Co-founder & CEO of Chardan)
Sponsor’s Previous SPAC to Announce a Deal: Chardan Healthcare Acquisition (CHAC) merged with BiomX (PHGE) in October of 2019. PHGE closed the day at $6.82.
2) Disruptive Acquisition Corp I (DISA)
$250M, 1/3 warrant
Focus: Health and wellness, entertainment, and consumer tech
Chairman & CEO: Alexander Davis (Founder & CEO of Disruptive and Founding Managing Director of Ten-X)
VP, Business Development: Mardy Fish (Former Professional Tennis Player)
Directors:
Karen Finerman (Co-founder & CEO of Metropolitan Capital Advisors)
Galen Smith (CEO of Redbox)
“Athlete Advisory Council” Members:
Justin Verlander (Professional baseball player)
Canelo Alvarez Barragan (Mexican professional boxer)
Patrick Mahomes II (Professional football player)
Naomi Osaka is (Professional tennis player)
Robert Lewandowski (Polish professional soccer player
3) Gefen Landa Acquisition Corp. (GFLD)
$250M, 1/3 Warrant
Focus: Israeli Tech Companies
Co-Executive Chairman: Benny Landa (Founder of Indigo Digital Printing, Chairman & CEO of Landa Labs, Chairman of Landa Ventures, and CTO of Landa Digital Printing)
4) Revolution Acceleration Acquisition Corp II (RAII)
$250M, 1/4 warrant
Focus: Financial Services, Healthcare, Tech, Consumer and Media
CEO & Director: John Delaney (Former member of the U.S. House of Representatives, Co-founder, Former Chairman & CEO of CapitalSource, and Co-founder, Chairman & CEO of HealthCare Financial Partners)
Directors:
Steve Case (Former Chairman & CEO of AOL and Chairman & CEO of Revolution)
Robert Bass (Director of Redfin, Groupon, and Former Vice Chairman of Deloitte)
Sponsor’s Previous SPAC to Announce a Deal: Revolution Acceleration Acquisition Corp (RAAC) announced a merger deal with Berkshire Grey last month. RAAC closed the day at $10.56.
5), 6), and 7) TPG Pace Solutions Corp. (TPGS), TPG Pace Tech Opportunities II. Corp. (TPGT), and TPG Pace Beneficial II Corp. (YTPG)
Non-Executive Chairman: Karl Peterson (Senior Partner of TPG and Managing Partner of TPG Pace Group)
TPGS
$250M, no warrants
Directors:
David Bonderman (Founding Partner of TPG, Director of Allogene Therapeutics, Former Chairman of RyanAir Holdings)
Kathleen Philips (Former CFO of Zillow Group)
Kneeland Youngblood (Founding Partner of Pharos Capital Group, Former Director of Burger King, Starwood Hotels and Lodging, and Gap Inc.)
TPGT
$450M, no warrants
Focus: Tech
President: Greg Mrva (Former CFO of StubHub)
Directors:
David Bonderman (Founding Partner of TPG, Director of Allogene Therapeutics, Former Chairman of RyanAir Holdings)
Kathleen Philips (Former CFO of Zillow Group)
YTPG
$350M, no warrants
Focus: ESG-related
Directors:
Mark Fields (Former CEO of Ford Motor Company, Former CEO of Mazda, and Former Director of IBM)
Kneeland Youngblood (Founding Partner of Pharos Capital Group, Former Director of Burger King, Starwood Hotels and Lodging, and Gap Inc.)
Maryanne Hancock (Founding CEO of Y Analytics)
Sponsor’s Previous SPAC to Announce a Deal: TPG Pace Tech Opportunities Corp. (PACE) announced a merger deal with Nerdy in late January. PACE closed the day at $10.26.
8) Angel Pond Holdings Corp (Ticker not available yet)
$300M, 1/3 warrant
Focus: Tech in China (including e-commerce, enterprise software, cloud computing, and fintech)
Co-founder: Simon Xie (Co-founder of Alibaba Group)
9) FTAC Zeus Acquisition Corp. (ZING)
$440M, 1/4 warrant
Focus: Tech, Fintech
Chairman: Daniel Cohen (Chairman of Cohen & Company and Chairman of The Bancorp)
Sponsor’s Previous SPAC to Announce a Deal: FTAC Olympus Acquisition (FTOC) announced a merger deal with Payoneer on February 3rd. FTOC closed the day at $10.47.
Upcoming Dates:
This Week’s Shareholder Meetings:
Tuesday, 3/8:
Colonnade Acquisition Corp. (CLA) Shareholder Meeting to Approve Business Combination with Ouster
Wednesday, 3/10:
GigCapital2, Inc (GIX) Shareholder Meeting to Extend Deadline for Business Combination
Thursday, 3/11:
Interprivate Acquisition Corp (IPV) Shareholder Meeting to Approve Business Combination with Aeva
Friday, 3/12:
New Providence Acquisition Corp (NPA) Shareholder Meeting to Extend Deadline for Business Combination
This Week’s Unit Splits (common shares and warrants to commence trading separately from underlying units):
Tuesday, 3/9
CA Healthcare Acquisition Corp. (CAHC)
Wednesday, 3/10
European Sustainable Growth Acquisition Corp. (EUSG)
Quantum FinTech Acquisition Corporation (QFTA)
Friday, 3/12
Monument Circle Acquisition Corp. (MON)
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