The Nightcap
Nightly recap of all the day's SPAC highlights (Feb 17th, 2021)
February 17th, 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:
1) Artius Acquisition Corporation (AACQ) & Origin Materials, maker of bioplastic materials.
$999M EV
$200M PIPE, including investments from Danone, Nestlé, and PepsiCo.
AACQ closed the day at $13.50 (-3.57%)
2) CF Finance Acquisition Corp. III (CFAC) & A-Eye, a developer of light detecting and ranging (LiDAR) systems for autonomous vehicles.
$2B EV
$225M PIPE
CFAC closed the day at $11.15 (-17.6%)
3) Alpha Healthcare Acquisition Corp (AHAC) & Humacyte, a developer of “universally implantable bioengineered human tissues and organs”.
$849M EV
$175M PIPE
AHAC closed the day at $12.65 (+20.9%)
Deal News Reports:
1) Altitude Acquisition Corp. (ALTU) is in talks with Boeing-backed Aerion, a supersonic jet company, at a $3B valuation, according to Bloomberg.
2) Osprey Technology Acquisition Corp. (SFTW) is said to be merging with BlackSky Holdings, a satellite company that provides “geospatial intelligence” to its customers, at a $1.5B valuation, according to Bloomberg.
Notable IPOs:
1) SportsTek Acquisition Corp. (SPTK.U)
$150M, 1/2 warrant
Focus: Sports: franchises, media, data analytics, & Tech
Co-CEO and Director:
Tavo Hellmund (Founder of the FIA Formula-1 United States Grand Prix and Co-founder of Circuit of the Americas)
Chairman and Director:
Jeffrey Luhnow (Former General Manager of the Houston Astros)
Director:
Sashi Brown (Chief Planning & Operations Officer of Monumental Sports & Entertainment and Former Executive Vice President of Football Operations for the Cleveland Browns)
SPTK.U closed the day at $10.29
2) FinServ Acquisition Corp. II (FSRX.U) — will trade tomorrow
$265M, 1/4 warrant
Focus: Fintech, Financial services
CEO and Director:
Lee Einbinder (Former Vice Chairman at Barclays)
Director:
Michael Vaughan (Former COO of Venmo)
3) Kismet Acquisition Two Corp (KAII.U) and Kismet Acquisition Three Corp (KIII.U) — will trade tomorrow
Focus: Internet, Tech, Europe (including Russia)
KAII.U:
$200M, 1/3 warrant
KIII.U:
$250M, 1/3 warrant
Kismet Acquisition One Corp (KSMT) announced a merger with Nexters Global earlier this month. KSMT closed the day at $10.08
Notable New SPAC S-1 filings:
1) Sandbridge X2 Corp. (SBII)
$200M, 1/3 warrant
Focus: Consumer
Chairman and CEO:
Ken Suslow (Founder of Sandbridge Capital)
Director:
Domenico De Sole (Co-Founder of Tom Ford and Former CEO of Gucci Group)
Sandbridge Acquisition Corp. (SBG) announced a merger with Owlet yesterday. SBG closed the day at $10.46.
2) Advancit Acquisition Corp. I (AACO)
$350M, 1/3 warrant
Focus: Media & Technology
Chairman:
Jonathan Miller (Former CEO of AOL, Former Chairman & CEO of News Corporation’s Digital Media Group, Former Director of Hulu, and Director of The Nielsen Company)
CEO and Director:
Randy Freer (Former CEO of Hulu, Former COO of Fox Networks Group, and Former COO of Fox Sports Media Group)
Director:
Troy Carter (Founder of the entertainment company, Atom Factory)
3), 4), and 5) InterPrivate II Acquisition Corp (IPVA), InterPrivate III Financial Partners (IPVF), and InterPrivate IV InfraTech Partners Inc (IPVI)
Chairman & CEO:
Ahmed Fattouh (CEO of InterPrivate)
IPVA
$200M, 1/4 warrant
Focus: Auto-tech and mobility, business services, consumer, retail, e-commerce, industrial technology
IPVF
$200M, 1/4 warrant
Focus: Asset & Wealth Management, Banking, Non-bank lending, Insurance
IPVI
$250M, 1/4 warrant
Focus: TMT infrastructure
InterPrivate Acquisition Corp (IPV) announced a merger deal with Aeva in November of last year. IPV closed the day at $16.95.
6) FG New America Acquisition II Corp (FGNB)
$225M, 1/3 warrant
Focus: Financial Services, Insurance
Chairman and Director:
Joseph Mogolia (Former CEO and Chairman of TD Ameritrade)
FG New America Acquisition I (FGNA) announced a merger deal with OppFi last week. FGNA closed the day at $10.59.
7) dMY Technology Group, Inc. IV (DMYQ)
$250M, 1/5 warrant
Focus: Consumer Tech/ Apps
Chairman
Harry You (Former CFO of Oracle and Founder of GTY Technology Holdings)
CEO and Director:
Niccolo de Masi (Chairman and Former CEO of Glu and CEO of dMY Technology Group III)
Director:
Darla K. Anderson (Academy Award winner, Film Producer at Netflix, and Former Film Producer at Pixar Animation Studio— produced “Coco,” “Toy Story 3,” “Cars,” “Monsters, Inc.” )
dMY Technology Group II (DMYD) announced a merger deal with Genius Sports in October of last year. DMYD closed the day at $19.16.
8) Stratim Cloud Acquisition Corp. (SCAQ)
$250M, 1/3 warrant
Focus: Software (cloud infrastructure, consumer and enterprise SaaS, and security)
Chairman and CEO:
Sreekanth Ravi (Founder & Executive Chairman of RSquared AI and Co-Founder & Former CEO of Tely)
Directors:
Scott Wagner (Former CEO of GoDaddy)
Doug Bergeron (Co-managing Partner of Hudson Executive Capital)
9) and 10) Warburg Pincus Capital Corp I-A (WPCA) and Warburg Pincus Capital Corp I-B (WPCB)
WPCA
$250M, 1/5 warrant
WPCB
$500M, 1/5 warrant
Upcoming Dates:
Tomorrow’s Shareholder Meeting:
Thursday, 2/25:
Switchback Energy Acquisition Corporation (SBE) Shareholder Meeting to Approve Business Combination with ChargePoint
This Week’s Unit Splits (common shares and warrants to commence trading separately from underlying units):
Friday, 2/19
Dune Acquisition Corp (DUNE)
Visuals are tight:
In honor of Churchill Capital Corp. IV (CCIV) hitting an All-Time High of $59.50 today — Reuters reported yesterday that CCIV is nearing a merger deal with Lucid Motors — here are the highest ATH’s among current SPACs & Former SPACs that completed in 2020 and later.
Thank you for reading.
Thanks,