The Nightcap

Nightly recap of the day's SPAC highlights (April 22nd, 2021)

April 22nd, 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 Stats:

*GIK merger was approved today.

SPAC Track @SPACtrack

#SPAC Volume Leaders (4/22) $CCIV 17.2M $HZAC 17.1M (Definitive Agreement with Vivid Seats, +3.3%) $FWAA 7.8M (DA with SmartRent, +1.6%) $MUDS 4.8M $IPOE 3.1M $STPK 1.7M $PSTH 1.7M $SRNG 1.6M $AGC 1.5M $ACTC 1.4M

The Deals:

1) Horizon Acquisition Corp (HZAC) & Vivid Seats, an online ticketing marketplace.

• $2.06B

• $225M PIPE including investments from Fidelity Management and Eldridge Industries (SPAC sponsor)

• Additional notes: “Eldridge has also committed to make an additional investment in common stock PIPE at $10.00 per share in an amount equal to Horizon’s shareholder redemptions” (From press release)

2) Fifth Wall Acquisition Corp. I (FWAA) & SmartRent, commercial smart home technology company.

• $1.66B

• $155M PIPE including investments from Starwood Capital Group, Lennar, Invitation Homes, and Koch Real Estate Investments.

• Additional notes:

  • “Founder shares of FWAA’s sponsor are locked up for periods of up to three years” (From investor presentation)

  • “A fund managed by Fifth Wall currently holds a minority stake of less than 5% in SmartRent” (From investor presentation)

Deal News Reports:

None today.

S-1 Filings:

1) Agrico Acquisition Corp. (RICO)

• $125M, 1/2 warrant

• Focus: Agtech, agriculture, horticulture, and aquaculture

SPACs Leaving the Nest:

• GigCapital3, Inc. (GIK) shareholders approved the business combination with Lightning eMotors with appx. 29% of the shares redeemed. Upon completion of the merger, GIK will trade as ZEV.

Upcoming Dates:

This Week’s Shareholder Meetings and Unit Splits (common shares and warrants to commence trading separately from underlying units)

Friday, April 23rd

• Northern Genesis Acquisition Corp. (NGA) Shareholder Meeting to Approve Business Combination with Lion Electric

• Alberton Acquisition Corp (ALAC) Shareholder Meeting to Extend Deadline for Business Combination

• Unit Splits: Tailwind Two Acquisition Corp. (TWNT), Isos Acquisition Corp (ISOS)

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Thanks for reading,

SPAC Track

spactrack.net