The Nightcap

Nightly recap of the day's SPAC highlights (April 7th, 2021)

April 7th, 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:

SPAC Track @SPACtrack

#SPAC Volume Leaders (4/7) $CCIV 15.1M $MUDS 10.5M $CAHC 6.7M (Definitive Agreement with LumiraDx, +3.1%) $AGC 5.3M $CMLT-U 4.7M (New IPO, +11.2%) $FTCV 4.4M (+10.3%) $VGAC 3.1M $PANA 2.7M $BOWX 2.1M $IPOE 2.0M

The Deals:

1) CA Healthcare Acquisition Corp (CAHC) & LumiraDx, a point of care diagnostics testing company that has developed a COVID-19 antigen test currently being used in the US by CVS Health, in the UK by the NHS and Boots, and in African countries in partnership with the Bill and Melinda Gates Foundation.

• $5B EV

• No PIPE

2) Mountain Crest Acquisition Corp. II (MCAD) & Better Therapeutics, a prescription digital therapeutics company.

• $187M EV

• $50M PIPE

3) Rice Acquisition Corp. (RICE) & Aria Energy, a landfill gas company, and Archaea Energy, a renewable natural gas company, in order to “create the industry-leading renewable natural gas (“RNG”) platform”.

• $1.14B EV

• $300M PIPE including investments from The Baupost Group, BNP Paribas Energy Transition Fund, CIBC, Goldman Sachs Asset Management LP, and Wellington Management.

Deal News Reports:

1) Altimeter Growth Corp (AGC) is set to announce its merger with Grab that will value Grab at about $35B, according to the FT.

2) Gores Metropoulos II, Inc. (GMII) is in talks to merge with Sonder, a short-term rental company, at a more than $2.5B valuation, according to Bloomberg.

IPOs to begin trading tomorrow (priced):

1) Model Performance Acquisition Corp (MPAC)

• $50M, 1/2 warrant + 1 right (1/10 share)

• Focus: Asia

S-1 Filings:

1) Clover Leaf Capital Corp. (CLOE)

• $125M, 1 warrant

• Focus: Cannabis

2) International Media Acquisition Corp. (IMAQ)

• $200M, 1/3 warrant

• Focus: Media and Entertainment

3) Perception Capital Corp. II (PCCT)

• $250M, 1/3 warrant

• Focus: Industrial Tech, Sustainability

Upcoming Dates:

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

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,

SPAC Track

spactrack.net