The Nightcap
Nightly recap of all the day's SPAC highlights (March 3rd, 2021)
March 3rd, 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:
The Deals:
1) Vistas Media Acquisition Company Inc. (VMAC) & Anghami, a music streaming service in the Middle East and North Africa.
$220M EV
$40M PIPE
Deal News Reports:
1) Qell Acquisition Corp (QELL) is in talks to merge with Lilium, a German eVTOL (electric vertical takeoff and landing) passenger jet company.
2) Reinvent Technology Partners Z (RTPZ) is nearing a merger deal with Hippo, a home insurance company, at a more than $5B valuation, according to Bloomberg. The Bloomberg article notes that the deal could be announced as early as tomorrow.
Notable IPO’s to begin trading tomorrow:
1) FTAC Hera Acquisition Corp. (HERA.U)
$800M, 1/4 warrant
Focus: Fintech
Chairman: Betsy Cohen (Founder & Former CEO of The Bancorp and serial SPAC sponsor)
President & CEO: Daniel Cohen (Chairman of Cohen & Company)
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 $10.68.
2) Atlantic Coastal Acquisition Corp. (ACAH.U)
$300M, 1/3 warrant
Focus: Next-Generation Mobility
Chairman and CEO: Shahraab Ahmad (Founder and CIO of Decca Capital)
Director: Bryan Dove (Former CEO of Skyscanner)
Notable S-1 Filings:
1) Lead Edge Growth Opportunities, Ltd (LEGA)
$300M, 1/3 warrant
Focus: Software, Internet, Tech
Chairman & CEO: Mitchell Green (Founder & GP of Lead Edge)
Director: Meg Whitman (Former CEO of HP, Former CEO of eBay, Former CEO of Quibi, and Director of Procter & Gamble)
2) Space Acquisition Corp. I (OUTR)
$300M, 1/3 warrant
Focus: Space Economy
Co-CEO: Raphael Roettgen (Founder of E2MC, a space-focused venture capital firm)
3) Motor City Acquisition Corp. (MCYT)
$250M, 1/4 warrant
Focus: Automotive and Mobility
Chairman & CEO: Robert Wagman (Former CEO of LKQ Corporation)
Directors:
Jeremy Anspach (Founder & CEO of PureCars)
William Giles (Former CFO of Autozone)
4) 1.12 Acquisition Corp (OPOT)
$350M, 1/4 warrant
Focus: Financial services, technology, software, data, analytics, asset management, internet related services and related areas
Founder & Chairman: Frank Martire, Jr. (Executive Chairman of NCR, Director of Cannae Holdings, and Former Chairman & CEO of FIS Global)
Upcoming Dates:
This Week’s Shareholder Meetings:
Friday, 3/5:
CF Finance Acquisition Corp II (CFII) Shareholder Meeting to Approve Business Combination with View
This Week’s Unit Splits (common shares and warrants to commence trading separately from underlying units):
Thursday, 3/4
Global Partner Acquisition Corp II (GPAC)
Legato Merger Corp. (LEGO)
Friday, 3/5
Deep Lake Capital Acquisition Corp. (DLCA), Fortress Capital Acquisition Corp. (FCAX)
Thank you for reading.
Thanks,