The Nightcap
Nightly recap of the day's SPAC highlights (April 6th, 2021)
April 6th, 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:
The Deals:
1) Mudrick Capital Acquisition Corporation II (MUDS) & The Topps Company, the widely known maker of sports and entertainment collectibles. The press release stated that: "significant growth in its industry-leading e-commerce and digital (apps) platforms positions Topps to further expand with Blockchain/NFT (Non-Fungible Token) initiatives"
$1.3B EV
$250M PIPE
2) Rotor Acquisition Corp. (ROT) & Sarcos Robotics, a developer of “highly dexterous mobile industrial robotic systems”.
$1.31B EV
$220M PIPE including investments from funds and accounts managed by BlackRock, Millennium Management, Palantir Technologies, Caterpillar Venture Capital, JAWS Estates Capital, and Sarcos Chairman & CEO Ben Wolff
Deal News Reports:
None today.
Notable IPOs to begin trading tomorrow:
1) Big Sky Growth Partners (BSKY.U) *Expected to IPO
$300M, 1/4 warrant
Focus: Internet Retail and Direct-to-Consumer
Chairman & CEO: Mark Vadon (Co-founder of Zulily, Former Chairman of Chewy)
Directors:
Joseph Zwillinger (Co-founder of Allbirds)
Michael Smith (Director & Former COO of Stitch Fix, Former COO of Walmart.com, Director of Ulta Beauty)
2) Panacea Acquisition Corp. II (PANA) *Expected to IPO
$150M, no warrants
Focus: Biotech
Sponsor’s Previous SPAC to Announce a Deal: Panacea Acquisition (PANA) merged with Nuvation Bio (NUVB) last month. NUVB closed the day at $12.66.
3) TCV Acquisition Corp. (TCVA) *Expected to IPO
$350M, no warrants
Focus: Tech: Software, Internet, and Fintech
Officers:
Jay Hoag (Founding General Partner of TCV, Director of Electronic Arts, Netflix, Peloton, TripAdvisor, & Zillow)
Woody Marshall (General Partner of TCV and Director of GoFundMe, Newsela, Payoneer, Retail Merchant Services, Sojern, Spotify, and Nerdy)
Directors:
Katie Mitic (Co-founder & Co-CEO of SomethingElse, and Co-founder & Former CEO of Sitch
Tayloe Stansbury (CEO of Kaleidescape and Former CTO of Intuit)
Notable S-1 Filings:
1) ION Acquisition Corp 3 Ltd. (IACC)
$250M, 1/8 warrant
Focus: Israeli tech companies
Officers:
Jonathan Kolber (Partner of Viola Growth and Chairman of ION Asset Management
Sponsor’s Previous SPAC Activity: ION Acquisition Corp 1 Ltd. (IACA) announced a merger deal with Taboola in January. IACA closed the day at $10.37.
2) Lamar Partnering Corp (LPC)
$300M, 1/4 warrant
Focus: Digital media, advertising technology, international advertising, distributed energy and wireless communications infrastructure.
Officers:
Sean Reilly (CEO of Lamar)
Directors:
Barry Frey (CEO and Director of the DPAA)
Upcoming Dates:
This Week’s Shareholder Meetings and Unit Splits (common shares and warrants to commence trading separately from underlying units)
Wednesday, April 7
Unit Splits: Moringa Acquisition Corp (MACA)
Friday, April 9
Unit Splits: B. Riley Principal 150 Merger Corp. (BRPM), Tailwind International Acquisition Corp. (TWNI), SportsTek Acquisition Corp. (SPTK)
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Thanks for reading,