The Nightcap

Nightly recap of the day's SPAC highlights (March 26th, 2021)

March 26th, 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:

SPAC Track @SPACtrack

#SPAC Volume Leaders (3/26) $BOWX 33.7M (Definitive Agreement with WeWork, +20.2%) $CCIV 18M $SV 7.9M (DA with AeroFarms, +1.5%) $BFT 5.7M $IPOE 4.6M $SPFR 4.2M $TBA 4.2M $PSTH 3M $BTWN 3.0M $GNPK 2.8M

The Deals:

1) BowX Acquisition Corp. (BOWX) & WeWork (no description needed!)

• $9B EV

• $800M PIPE including investments from Insight Partners, funds managed by Starwood Capital Group, Centaurus Capital, and funds and accounts managed by BlackRock

2) Spring Valley Acquisition Corp. (SV) & AeroFarms, a vertical farming company with certified B Corporation status.

• $8.97B EV

• $125M PIPE

Deal News Reports:

None today.

Notable S-1 Filings:

1) CEA Space Partners I Corp. (CEAS)

• $250M, 1/3 warrant

• Focus: Space Economy

• Officers:

  • Edward Horowitz (Former Chairman & CEO of Viacom Broadcasting and the Viacom Interactive Media Group)

  • Dr. Lonnie Johnson (BOSS.)

    • NASA scientist and inventor

    • Former Acting Chief of the Space Nuclear Power Safety Section at the Air Force Weapons Laboratory in Albuquerque, New Mexico,

    • Former Senior Systems Engineer at NASA’s Jet Propulsion Laboratory in Pasadena, California, where he worked on the Galileo mission to Jupiter, the Mars Observer project and the Cassini (Saturn) project.

    • Inventor of the SuperSoaker water gun and several Nerf dart guns

• Directors:

  • Nicole Stott (Former NASA Astronaut: the first person to fly the robotic arm to capture a free-flying HTV cargo vehicle, and a member of the Space Shuttle Discovery’s final flight crew)

  • Rick Michaels, Jr. (Chairman & CEO of the CEA Group)

2) and 3) Crucible Acquisition Corp. II (CRUA) and III (CRUB)

• Focus: Software Tech

• Officers:

  • Brad Feld (Founding Partner of Foundry Group and Co-founder of Techstars)

• CRUA: $200M, 1/4 warrant

• CRUB: $350M, 1/4 warrant

  • Directors:

    • Tina Sharkey (Co-founder and Former CEO of Brandless, Director of PBS, and Former Director of HomeAway)

4) Parabellum Acquisition Corp. (PBRM)

• $125M, 1/2 warrant

• Focus: Tech and IoT

• Officers:

  • Narbeh Derhacobian (Former CEO of Adesto Technologies)

5) and 6) Science Strategic Acquisition Corp. Bravo (SCIB) and Charlie (SCIC)

• Focus: D2C Brands and Services, Mobile & Social Entertainment

• Officers:

  • Michael Jones (Former CEO of Myspace)

• SCIB: $200M, 1/2 warrant

  • Directors:

    • Jeff Bonforte (CEO of Grindr)

• SCIC: $125M, 1/4 warrant

Upcoming Dates:

Next Week’s Shareholder Meetings and Unit Splits (common shares and warrants to commence trading separately from underlying units)

Monday, March 29th

• Unit Splits: JOFF Fintech Acquisition Corp. (JOFF), Sustainable Development Acquisition I Corp. (SDAC), Itiquira Acquisition Corp. (ITQ), RMG Acquisition Corp. III (RMGC), HH&L Acquisition Co. (HHLA), Altimar Acquisition Corp. II (ATMR), Decarbonization Plus Acquisition Corporation II (DCRN), Compute Health Acquisition Corp. (CPUH), Isleworth Healthcare Acquisition Corp. (ISLE)

Wednesday, March 31st

• Collective Growth Corp (CGRO) Shareholder Meeting to Approve Business Combination with Innoviz

Thursday, April 1st

• Unit Splits: Priveterra Acquisition Corp. (PMGM), GigCapital4, Inc. (GIG)

• New Providence Acquisition Corp (NPA) Shareholder Meeting to Approve Business Combination with AST SpaceMobile

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Thanks for reading,

SPAC Track

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