The Nightcap
Nightly recap of the day's SPAC highlights (March 12th, 2021)
March 12th, 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:
The Deals:
1) Empower Ltd. (EMPW) & Holley, an automotive performance parts manufacturer.
$1.64B EV
$240M PIPE
2) Cerberus Telecom Acquisition Corp. (CTAC) & KORE, a provider of Internet of Things (IoT) and global connectivity solutions.
$1.014B EV
$225M PIPE including investments from Koch Strategic Platforms and funds & accounts managed by BlackRock
Deal News Reports:
1) Bloomberg reported today that the Altimer Capital SPAC said to be in talks with Grab in yesterday’s WSJ article is Altimeter Growth Corp (AGC). Bloomberg notes that the talks are advanced with a deal announcement coming as early as April.
The deal could value Grab at $40B and include a $2.5B-3B PIPE.
Notable S-1 Filings:
1) Able Brands Co. (ABCO)
$225M, 1/3 warrant
Focus: Consumer Health and Wellness (Better-for-you products and services)
Officers:
Amanda Eilian (Founding Partner of Able Partners and Co-founder of Videolicious)
Directors:
Anuradha Subramanian (CFO of Bumble Inc.)
2) Thunder Bridge Capital Partners IV, Inc. (THCP)
$225M, 1/5 warrant
Focus: Financial Services
Directors:
David Mangum (Former COO of Global Payments, and Former CFO of CheckFree Corporation)
Advisors:
Pete Kight (Founder, Former Chairman, & CEO of CheckFree Corporation, Former Director & Vice Vhairman of Fiserv, and Director of Bill.com)
3) 1Sharpe Acquisition Corp. (UNOO)
$225M, 1/3 warrant
Focus: PropTech or Fintech
Officers:
Gregor Watson (Co-founder & Chairman of Roofstock)
4) FirstMark Acquisition Corp. II (Ticker not available yet)
$200M, 1/5 warrant
Focus: Tech
Officers:
Richard Heitzmann (Founder and Partner of FirstMark)
Upcoming Dates:
Next Week’s Shareholder Meetings and Unit Splits (common shares and warrants to commence trading separately from underlying units)
Monday, March 15th:
Unit Split: North Atlantic Acquisition Corporation (NAAC), Virtuoso Acquisition Corp. (VOSO), Jack Creek Investment Corp. (JCIC), Astrea Acquisition Corp. (ASAX), SCP & CO Healthcare Acquisition Company (SHAC), One Equity Partners Open Water I Corp. (OEPW), Liberty Media Acquisition Corporation (LMAC)
Tuesday, March 16th:
Roth CH Acquisition I Co (ROCH) Shareholder Meeting to Approve Business Combination with PureCycle Technologies
Newborn Acquisition Corp (NBAC) Shareholder Meeting to Approve Business Combination with Nuvve
Friday, March 19th:
CIIG Merger Corp (CIIC) Shareholder Meeting to Approve Business Combination with Arrival
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Thanks for reading,