The Nightcap
Nightly recap of all the day's SPAC highlights (Feb 19th, 2021)
February 19th, 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:
Volume Leaders:
Top Gainers:
Top Losers:
The Deals:
Very quiet today… with 336 SPACs that have not announced a merger deal yet, I’m going to guess we’re in for one hell of a Merger Monday.
Deal News Reports:
No reports today.
As a reminder, here are the SPACs that have been said to be in talks according to reports in the month of February, but are pending further update:
1) Altitude Acquisition Corp (ALTU) & Aerion (Bloomberg 2/17)
2) Churchill Capital Corp IV (CCIV) & Lucid Motors (Bloomberg reported the talks initially on 1/11 and Reuters reported that the two parties are close to a merger deal on 2/16)
CCIV closed the day at $52.94
3) Gores Holdings V Inc. (GRSV) & Ardagh Group’s Beverage Can Unit (Bloomberg 2/12)
4) Northern Star Investment Corp. II (NSTB) & Apex Clearing (Bloomberg, 2/11)
5) Reinvent Technology Partners (RTP) & Joby Aviation (Financial Times, 2/11)
RTP was reported as in talks with Hippo by Bloomberg on 2/5
6) NextGen Acquisition Corp (NGAC) & Xos Trucks (Reuters, 2/8)
7) Apollo Strategic Growth Capital (APSG) & Solera Holdings (Bloomberg, 2/4)
Notable New SPAC S-1 filings:
1) Pine Technology Acquisition Corp. (PTOC)
$300M, 1/3 warrant
Focus: InsurTech
Directors:
J. Eric Smith (Former CEO of Swiss Re Americas)
Bradley Tusk (Founder & CEO of Tusk Holdings)
2) Fortress Value Acquisition Corp. IV (FVIV)
$600M, 1/8 warrant
Fortress Value II (FAII) and III (FVT) are currently searching for a merger partner. Fortress Value I (FVAC) merged with MP Materials (MP) last November. MP closed the day at $45.05.
3) and 4) CF Acquisition Corp. VII (CFFS) and CF Acquisition Corp. VIII (CFFE)
CFFS
$175M, 1/4 warrant
CFFE
$200M, 1/4 warrant
Focus: Financial Services, Healthcare, Real Estate Services, Tech, & Software
Chairman & CEO:
Howard Lutnick (Chairman & CEO of Cantor)
President:
Anshu Jain (President of Cantor, Former Co-CEO of Deutsche Bank)
CF Acquisition Corp. II (CFII) announced a merger with View, Inc in November of last year. CFII closed the day at $10.98
CF Finance Acquisition Corp. III (CFAC) announced a merger with AEye this past week. CFAC closed the day at $11.00.
CF Acquisition Corp. IV (CFIV) has not announced a merger deal.
5) MSD Acquisition Corp. (MSDA)
$500M, 1/5 warrant
Focus: Tech & Media
CEO & Director:
Gregg Lemkau (CEO & Partner of MSD Partners and Co-Head of the Investment Banking Division of Goldman Sachs)
Directors:
Jim Breyer (Founder & CEO of Breyer Capital, Former Partner at Accel Partners, Director of Blackstone, and Former Director of Facebook, 21st Century Fox, Walmart, Dell, & Etsy)
Edith Cooper (Director of Etsy and Slack Technologies)
Barry McCarthy (Director & Former CFO of Spotify, Former CFO of Netflix)
Strategic Advisor:
Michael Dell (Founder & CEO of Dell Technologies)
6) TPB Acquisition Corp I (TPBA)
$250M, 1/3 warrant
Focus: To merge a sustainability focused-company in the food, agriculture, biomanufacturing, and life sciences sectors either with The Production Board (the sponsor’s parent company), with one or more of The Production Board’s portfolio companies, or as a standalone transaction.
Chairman & CEO:
David Friedberg (Founder & Chairman of Metromile, Founder of The CIimate Corporation)
Directors:
Bharat Vasan (Former COO of August Home)
Dr. Neil Renninger (Co-founder & Co-CEO of Ripple Foods)
Kerry Cooper (Former COO of Rothey’s, Former CMO of Walmart.com)
April Underwood (Director of Zillow)
7) Plum Acquisition Corp. I (PLMI)
$300M, 1/5 warrant
Focus: Software/ Tech, Health and Wellbeing
Executive Chairwoman:
Ursula Burns (Former CEO of Xerox, Director of Nestle, Uber, and Exxon Mobil)
COO:
Mike Dinsdale (Former CFO of Gusto, Former CFO of DoorDash, Former CFO of DocuSign)
Directors:
Kevin Turner (Former COO of Microsoft, Former CEO of Sam’s Club, Former Director at Nordstrom, and Former Vice Chairman of Citadel)
Alok Sama (Former CFO of SoftBank Group)
8) and 9) Elliott Opportunity I (ticker not announced) & II (ticker not announced)
Focus: Tech
Co-Chairman
Gordon Singer (Managing Partner, Elliott Investment Management)
Elliot I
$1B, 1/4 warrant
Elliot 2
$500M, 1/4 warrant
Thank you for reading.
Thanks,