The Nightcap

Nightly recap of the day's SPAC highlights (April 8th, 2021)

April 8th, 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 (4/8) $RICE 119.9M (Definitive Agreement with Aria Energy and Archaea Energy, +51.7%) $STPK 11.8M (+14.4%) $CCIV 7.9M $TWCT 5.9M (DA with Cellebrite, -0.1%) $FTCV 3.2M $MUDS 3.1M $BOWX 3.0M $TIOA-U 2.9M (New IPO) $BTWN 2.6M (+13.2%) $IPOE 2.5M

The Deals:

1) TWC Tech Holdings II Corp. (TWCT) & Cellebrite, an Israeli digital Intelligence company “empowering organizations to master the complexities of legally sanctioned digital investigations by streamlining intelligence processes”.

• $1.8B EV

• $300M PIPE
  

Deal News Reports:

1) Yucaipa Acquisition Corp. (YAC) is in talks to merge with Signa Sports United, a German online sport retailer, at a valuation of more than $4B, according to Bloomberg. The Bloomberg article also stated that “Signa Sports is considering an acquisition of U.K. rival Wiggle Ltd. as part of the transaction”.

Reuters initially reported the talks noting that Signa was in talks with other SPACs in addition to Yucaipa.

Notable IPOs to begin trading tomorrow (priced):

1) Aldel Financial Inc (ADF.U)

• $100M, 1/2 warrant

• Focus: Companies exiting the restructuring process / transient current ownership

• Chair & Officers:

  • Robert Kauffman (Co-founder of Fortress Investment Group)

• Directors:

  • Charlie Nearburg (Race car driver and founder of Nearburg Producing Company)

  • Kyle Cerminara (Co-founder of Fundamental Global and President of FG New America Acquisition Corp - FGNA)

2) TPG Pace Solutions Corp. (TPGS)

• $250M, no warrants

• Chair & Officers:

  • Karl Peterson (Senior Partner of TPG and Managing Partner of TPG Pace Group)

• Directors:

  • David Bonderman (Founding Partner of TPG, Director of Allogene Therapeutics, Former Chairman of RyanAir Holdings)

  • Kathleen Philips (Former CFO of Zillow Group)

  • Kneeland Youngblood (Founding Partner of Pharos Capital Group, Former Director of Burger King, Starwood Hotels and Lodging, and Gap Inc.)

Notable S-1 Filings:

1) Riverview Acquisition Corp. (RVAC)

• $250M, 1/2 warrant

• Focus: Consumer, including e-commerce, renewables and energy services, insurance & financial services

• Chair & Officers:

  • Brad Martin (Former CEO of Saks Inc., Former Chairman of the Board of Chesapeake Energy, and Former Director of First Horizon National, Caesars Entertainment, Dillard’s, Gaylord Entertainment Company, lululemon athletica, & Ruby Tuesday)

2) Tetragon Acquisition Corp I (TACQ)

• $500M, 1/3 warrant

• Focus: Tech

• Chair & Officers:

  • Reade Griffith (Co-founder of Tetragon and Polygon, Founder & Former CEO of the European office of Citadel Investment Group)

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), Property Solutions Acquisition Corp. II (PSAG)
  

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Thanks for reading,

SPAC Track

spactrack.net