The Nightcap

Nightly recap of the day's SPAC highlights (March 29th, 2021)

March 29th, 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 (3/29) $CCIV 21.3M $AJAX 15.7M (Definitive Agreement with Cazoo, +4%) $BOWX 6.2M $BFT 6.1M $PSTH 3.7M $CMII-U 2.9M (DA with SomaLogic, +8.4%) $IPOE 2.5M $SV 2.1M $LCAH-U 2.1M $PACE 2.0M

The Deals:

1) CM Life Sciences II Inc. (CMII) & SomaLogic, an “AI-data driven proteomics platform”.

• $1.23B EV

• $375M PIPE including investments from SB Management, a subsidiary of SoftBank Group Corp, separate accounts advised by ARK Invest, and a new strategic investor Illumina

2) Ajax I (AJAX) & Cazoo, an online car retailer in the UK “with a fast-growing presence in Europe".

• $7B EV

• $800M PIPE including new and existing investors including Altimeter, funds & accounts managed by BlackRock

Deal News Reports:

None.

Notable S-1 Filings:

1) Silverman Acquisition Corp I (SACQ)

• $250M, 1/3 warrant

• Focus: Consumer and Business Services

• Officers:

  • Henry Silverman (Former COO & Vice Chairman of Apollo Global Management and Former CEO & Chairman of Cendant)

  • Stephen Holmes (Former Chairman & CEO of Wyndham Worldwide)

2) Apollo Strategic Growth Capital III (APGC)

• $400M, 1/4 warrant

• Officers:

  • Sanjay Patel  (Chairman International and Senior Partner of Private Equity of Apollo)

• Directors:

  • Laurie Ann Goldman (Former CEO of Spanx)

3) Tribe Capital Growth Corp II (BTVC)

• $300M, 1/4 warrant

• Focus: Tech

• Officers: Arjun Sethi (Co-founder of Tribe Capital and Former Partner of Social Capital)

• Directors:

  • Richard Peretz (Former CFO of UPS)

  • Carol Foster (Former COO & CFO of SharesPost)

  • Duriya Farooqui (Director of InterContinental Hotels Group and Intercontinental Exchange)

• Advisors:

  • Odell Beckham Jr. (NFL Player)

  • Henry Ward (CEO of Carta)

Upcoming Dates:

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

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), Evo Acquisition Corp. (EVOJ)

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

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Thanks for reading,

SPAC Track

spactrack.net