The Nightcap by SPAC Track (2/2/21)
Nightly recap of all the day's SPAC highlights
February 2nd, 2021
Good evening,
Welcome to the second edition of “The Nightcap”.
Thank you all for the words of encouragement and the feedback! This newsletter will continue to improve over the next few weeks (along with major updates that are under development at spactrack.net)!
As noted in the first edition, “The Nightcap” is 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, “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 Nightcap
Not to say today was completely uneventful in the SPAC universe, but compared to yesterday’s 7-deal extravaganza, it was quite calm. Less excitement for sure, but also less reading for you now!
The SPAC Market Stats:
Volume Leaders:
The list below should include: JWSM.U at 21.5M (New IPO)
Top Gainers:
Top Losers:
The Deals:
1) Holicity Inc. (HOL) & Astra, a space launch company whose mission is to “launch a new generation of space services to improve life on Earth”.
$2.12B Pro-forma equity value
$200M PIPE including funds and accounts managed by BlackRock
2) Just kidding. That’s it for today.
Deal News:
10X Capital Venture Acquisition Corp (VCVC) is set to merge with REE Automotive, according to Bloomberg.
Link to the Bloomberg article here.
New “In Talks” Reports:
(Reports from reputable publications on “talks” with a prospective merger partner):
No “in talks” reports today as of this writing.
Below is the link to the full list of all the reports of SPACs "In Talks" along with status, article links, post-report returns, and some stats.
“SPACTrack.net - SPACs "In Talks" (or "Rumors") Report Tracker”
Today’s Notable IPO’s:
1) Jaws Mustang Acquisition Corp (JWSM.U)
$900M, 1/4 warrant
The 3rd installment in the Jaws SPAC series from Barry Sternlicht (Chairman and CEO of Starwood Capital).
Features John Legere, the former CEO of T-Mobile, as a Director.
Sternlicht’s other two SPACs:
Jaws Acquisition Corp (JWS) announced that it is merging with Cano Health, a “value-based care platform for seniors” in November of last year.
Jaws Spitfire Acquisition Corp (SPFR) is searching for a merger partner.
2) CC Neuberger Principal Holdings III (PRPC.U)
$350M, 1/5 warrant
The 5th SPAC for Chinh Chu (Founder & Senior Managing Partner of CC Capital and Former Senior Managing Director & Co-Head of Private Equity at Blackstone)
3) The Music Acquisition Corp (TMAC.U)
$200M, 1/2 warrant, targeting the music sector
Led by Neil Jacobson, the former President of Geffen Records.
Notable New SPAC S-1 filings:
1) Gores Technology Partners, Inc. (GTPA)
$240M, 1/5 warrant
Focused on Tech: consumer internet, enterprise software, fintech, digital health, proptech, gaming, agtech, & logistics
Gores Technology Partners II, Inc. (GTPB) was also filed. That brings the total Gores Group SPACs to 7 (3 currently searching for a merger partner and 4 preparing to IPO).
Chairman:
Alec Gores (Founder and CEO of The Gores Group)
Directors:
Manik Gupta (Former Chief Product Officer of Uber)
Muhammad Shahzad (Former CFO of The Honest Company)
2) Agile Growth Corp (Ticker not available)
$300M, 1/3 warrant
Focused on Tech
CEO:
Jay Bhatt (Former CEO of Blackboard and Former CEO of Alfresco Software)
Directors:
Carol Bartz (Former CEO of Yahoo! and Former CEO of Autodesk)
Carl Bass (Former CEO of Autodesk)
3) Ross Acquisition Corp II (ROSS)
Not Rick Ross.
Targeting companies that “will benefit from the next industrial revolution” including EV’s, Renewable Energy, Automation/Robotics, Semiconductors, Space, and Transportation.
Chairman & CEO:
Wilbur Ross (Former US Secretary of Commerce under President Trump)
Directors:
Lord William Astor (Conservative Peer in the House of Lords of the UK Parliament and Chairman of Silvergate Media)
Larry Kudlow (Former Director of the National Economic Council under President Trump and Former host of "The Kudlow Report" on CNBC)
SPACs Leaving the Nest:
Today’s Shareholder Meetings:
AMCI Acquisition Corp’s (AMCI) merger with Advent Technologies was approved.
Link to the recorded virtual meeting here.
CC Neuberger Principal Holdings I’s (PCPL) merger with E2open was approved.
Link to 8-K with results here.
Tomorrow’s Shareholder Meetings:
FS Development Corp (FSDC) Shareholder Meeting to Approve Business Combination with Gemini Therapeutics
Thanks,