The Nightcap
Nightly recap of all the day's SPAC highlights (Feb 18th, 2021)
February 18th, 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) HighCape Capital Acquisition Corporation (CAPA) & Quantum-Si, a developer of a
semiconductor chip used for “next-generation protein sequencing”.
$925M EV
$425M PIPE, including investments by ARK Invest and Foresite Capital
CAPA closed the day at $22.41 (+115.90%)
2) Osprey Technology Acquisition Corp. (SFTW) & BlackSky, a satellite intelligence, imagery, and data analytics company.
$1.1B EV
$180M PIPE, including investments from Mithril Capital (co-founded by Peter Thiel) and Hedosophia
SFTW closed the day at $13.97 (+27.60%)
3) East Stone Acquisition Corporation (ESSC) & JHD Holdings, an online and offline merchant enablement services platform that targets “lower-tier and emerging areas” in China.
ESSC previously had a definitive agreement with Ufin Tek Limited. That agreement was terminated on February 15th.
ESSC closed the day at $10.09 (+0.60%)
Notable IPOs:
1) Figure Acquisition Corp. I (FACA.U) — will trade tomorrow
$250M, 1/4 warrant
Focus: Fintech, Financial services
Chairman:
Michael Cagney (CEO of Figure Technologies and Former Chairman & CEO of SoFi)
President:
Asiff Hirji (President of Figure Technologies, Former COO of Coinbase, Former Operating Partner at Andreessen Horowitz, Former Partner at TPG Capital, and Former COO of TD Ameritrade)
2) Tailwind International Acquisition Corp. (TWNI.U) — will trade tomorrow
$300M, 1/3 warrant
Focus: Consumer Internet and other Tech in international markets, with a focus on Europe
CEO and Director:
Pierre Denis (Former CEO of Jimmy Choo)
3) Simon Property Group Acquisition Holdings, Inc. (SPGS.U) — will trade tomorrow
$300M, 1/5 warrant
Chairman:
David Simon (Chairman & Former CEO of Simon Property Group and Chairman of Klepierre)
Notable New SPAC S-1 filings:
1) Software Acquisition Group Inc. III (SWAG)
$200M, 1/3 warrant
Focus: Software
Software Acquisition Group I (SAII) announced a merger deal with Otonomo on February 1st. SAII closed the day at $11.50.
2) Trine II Acquisition Corp. (TRAQ)
$425M, 1/4 warrant
Focus: TMT
Chairman:
Leo Hindery Jr. (Managing Partner of InterMedia Partners, Former CEO of AT&T Broadband, Former CEO of TCI, and Director of Desktop Metal)
Trine Acquisition Corp (TRNE) merged with Desktop Metal (DM) in December of last year. DM closed the day at $26.25.
3) Supernova Partners Acquisition Co III, Ltd. (STRE)
$250M, 1/4 warrant
Focus: Tech
Co-Chair:
Spencer Rascoff (Co-founder & Former CEO of Zillow, Co-founder of Hotwire, and Director of Palantir)
Alexander Klabin (Co-founder of Senator Investment Group and Executive Chairman of Sotheby’s Financial Services)
4) Soar Technology Acquisition Corp. (FLYA)
$250M, 1/3 warrant
Focus: Tech-enabled
CEO and Chairman:
Jonathan Poulin (Former CEO of Luxury Retreats International)
Directors:
Peter Kern (Vice Chairman & CEO of Expedia Group)
Patrick Pichette (Chairman of Twitter and Former CFO of Google)
5) Forest Road Acquisition Corp. II (FRXB)
$300M, 1/5 warrant
Focus: TMTC (TMT & Consumer)
Co-CEO and Co-Chairman:
Thomas Staggs (Former COO of The Walt Disney Company and Director of Spotify)
Kevin Mayer (Former CEO of TikTok)
Director:
Martin Luther King III (Son of Martin Luther King Jr. and Former CEO of The King Center)
Strategic Advisor:
Shaquille “Shaq” O’Neal (4x NBA Champion, 3x NBA Finals MVP, 15x NBA All-Star)
Forest Road Acquisition Corp (FRX) announced a merger deal with Beachbody & Myx Fitness on February 10th. FRX closed the day at $12.25.
Upcoming Dates:
Friday’s Unit Splits (common shares and warrants to commence trading separately from underlying units):
Friday, 2/19
Dune Acquisition Corp (DUNE)
Thank you for reading.
Thanks,