The Nightcap
Nightly recap of all the day's SPAC highlights (Feb 10th, 2021)
February 10th, 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) CM Life Sciences, Inc (CMLF) & Sema4, “an AI- and machine learning-driven patient-centered genomic and clinical data intelligence company.”
$2.07B EV
$350M PIPE including investments from SB Management, a subsidiary of SoftBank Group Corp, and funds and accounts managed by Blackrock
CMLF closed the day at $22.10 (+42.4%)
2) Atlas Crest Investment Corp. (ACIC) & Archer Aviation, an electric aircraft company that is developing “environmentally sustainable air taxis.”
$2.7B EV
$600M PIPE including investments from United Airlines, Ken Moelis (ACIC Chairman and Chairman & CEO of Moelis & Company), and Mark Lore (Founder of Jet.com)
ACIC closed the day at $13.68 (+21.71%)
3) Forest Road Acquisition Corp. (FRX) & Beachbody, a fitness & nutrition company, and Myx Fitness, a home cycling company.
$2.9B EV
$225M PIPE
FRX closed the day at $11.67 (+8.46%)
4) FG New America Acquisition Corp. (FGNA) & Opportunity Financial, a fintech platform that offers financial services, including credit access, to the “Everyday Consumer”
$9.09M EV
FGNA closed the day at $11.30 (+5.61%)
Today’s Notable IPO’s:
1) Goal Acquisitions Corp (PUCK.U) — will trade tomorrow
$225M, 1 warrant
Focus: Professional Sports Teams & Media sectors (including sports tech, gaming & e-sports)
CEO:
Harvey Schiller (Former CEO of YankeeNets and Former Executive Director of the US Olympic Committee)
Advisors:
Jon Miller (Fomer Chairman and CEO of AOL and Director of AMC Networks)
Notable New SPAC S-1 filings:
1 and 2) Austerlitz Acquisition Corp I (AUS) and Austerlitz Acquisition Corp II (ASZ)
Austerlitz Acquisition Corp I (AUS)
$500M, 1/4 warrant
Focus: Fintech
Austerlitz Acquisition Corp II (ASZ)
$1B, 1/4 warrant
Focus: Fintech
Founder and Director:
Bill Foley (Founder and Chairman of Fidelity National Financial, Chairman of Cannae Holdings, and Owner of the Vegas Golden Knights NHL Team)
3) Supernova Partners Acquisition Co II, Ltd. (SNII)
$250M, 1/4 warrant
Focus: Tech (Enterprise)
Co-Chairs:
Spencer Rascoff (Co-founder and Former CEO of Zillow, Co-founder of Hotwire and Director of Palantir)
Alexander Klabin (Co-founder of Senator Investment Group, Executive Chairman of Sotheby’s Financial Services)
4) Freedom Acquisition I Corp. (FACT)
$250M, 1/3 warrant
Focus: Financial Services, Fintech
Affiliate of PIMCO
Executive Chairman:
Tidjane Thiam (Former CEO of Credit Suisse Group AG, Former CEO of Prudential plc, Former Director of 21st Century Fox, and Director of Kering)
Upcoming Events:
Tomorrow’s Shareholder Meetings:
Switchback Energy Acquisition Corp (SBE) Shareholder Meeting to Approve Business Combination with ChargePoint
Tomorrow’s Unit Splits (common shares and warrants to commence trading separately from underlying units):
Northern Star Investment Corp II (NSTB)
SPACs Leaving the Nest:
Panacea Acquisition (PANA) completed its business combination with Nuvation Bio. Will trade as NUVB starting tomorrow.
Mountain Crest Acquisition Corp (MCAC) completed its business combination with Playboy. Will trade as PLBY starting tomorrow.
Thank you for reading.
Thanks,