March 30th, 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) Qell Acquisition Corp. (QELL) & Lilium, a German electric vertical take-off and landing jet company.
$2.37B EV
$450M PIPE investment, “including investments by Baillie Gifford, funds and accounts managed by BlackRock, Tencent, Ferrovial, LGT and its direct impact investing arm Lightrock, Palantir, Atomico, FII Institute and private funds affiliated with PIMCO”
Deal News Reports:
None.
Notable S-1 Filings:
1) 5G Edge Acquisition Corp. (ARK)
$300M, 1/3 warrant
Focus: TMT
Officers:
Douglas Maine (Former CFO of IBM and Director of Acreage Holdings)
2) Waverley Capital Acquisition Corp. 1 (WAVC)
$300M, 1/4 warrant
Focus: Media, Technology, Entertainment
Officers:
Edgar Bronfman Jr. (Former Chairman and CEO of Warner Music Group, Executive Chairman of fuboTV)
Daniel Leff (Co-Founder and Managing Partner of Waverley, Director of fuboTV, and Former Director of Roku)
Directors:
David Gandler (Co-founder & CEO of fuboTV)
Jeff Bewkes (Former Chairman & CEO of Time Warner and Former Chairman & CEO of HBO)
3) Catcha Investment Corp 2.0 (CHAB)
$250M, 1/3 warrant
Focus: Technology, Digital Media, Fintech, or Digital Services sectors across Asia-Pacific, in particular, SE Asia and Australia
Officers:
Patrick Grove (Founder of Catcha Group)
SPACs Leaving the Nest:
Foley Trasimene Acquisition Corp. II (BFT) announced the completion of the merger with Paysafe. BFT will trade as PSFE starting tomorrow.
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,