The Nightcap from SPAC Track

The Nightcap newsletter: SPAC Track’s nightly recap of the action in the SPAC world. (November 16, 2021)

Discover and track all of the SPACs at spactrack.net.

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The Stats:

SPAC Track @SPACtrack

#SPAC Volume Leaders (11/16) $GGPI 52.9M $ENCP-U 10.8M (New IPO) $DWAC 5M $PIPP 4.5M $SNII 4M $AGC 3.7M $DCRC 3.4M $DMYQ 3.3M $RBAC 2.8M $SEAH 2.3M

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The Deals:

1) Archimedes Tech Spac Partners Co (ATSPT: warrants +81.92%) & SoundHound

Merger Partner Description:

SoundHound Inc., a leading innovator of conversational intelligence, offers an independent voice AI platform that enables businesses across industries to deliver best-in-class conversational experiences to their customers. Built on proprietary Speech-to-Meaning® and Deep Meaning Understanding® technologies, SoundHound’s advanced voice AI platform provides exceptional speed and accuracy and enables humans to interact with products and services like they interact with each other—by speaking naturally. SoundHound is trusted by companies around the globe, including Hyundai, Mercedes-Benz, Pandora, Mastercard, Deutsche Telekom, Snap, VIZIO, KIA, and Stellantis.

• Valuation: $2.067B EV

• PIPE: $111M including investments from Oracle, Koch Industries, and MKaNN Ventures, Cota Capital, VIZIO, HTC, FIH Mobile (a Foxconn Technology Group company), Structural Capital, Provco Group, Sompo, and Pejman Nozad

• Press Release

• Investor Presentation

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Merger Votes/ Completions:

• Leo Holdings III Corp (LIII) shareholders approve its merger with Local Bounti (pending filing/PR from LIII)

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Tracking De-SPAC S-1s (including PIPE resale registrations):

S-1 filings:

No Activity

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Quick News:

• Swvl, Queen’s Gambit Growth Capital’s (GMBT) merger partner, Acquires ViaPool in Follow-Up to Queen’s Gambit SPAC Tie-Up

• Queen’s Gambit Growth Capital’s (GMBT) enters into a backstop/FPA agreement of up to 10M shares in connection with its merger with Swvl

• Altimar Acquisition Corp. II (ATMR) enters into a backstop agreement of up to 1M shares and also amends agreement with Fathom to, among other things, reduce the strike price of the sponsor’s earnout from $15 to $12.50 per share

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IPOs to begin trading tomorrow*:

1) LF Capital Acquisition Corp. II Announces Pricing of $225 Million Initial Public Offering (LFAC-U)

2) Nabors Energy Transition Corp. Announces Pricing of Upsized $240,000,000 Initial Public Offering (NETC-U)

*Priced as of this writing

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New S-1s (2):

1) Cartica Acquisition Corp (CITE)

• $200M, 1/2 Warrant

• Focus: India-focused Tech

• Management:

  Subramanian Ramadorai (Former CEO of Tata Consultancy Services, Former Chairman of the Bombay Stock Exchange, and Chairman of Tata Technologies)

2) Nubia Brand International Corp. (NUBI)

• $100M, 1/2 Warrant

• Focus: Wireless telecommunications

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Upcoming Dates:

This Week’s Announced Shareholder Meetings, Unit Splits, Warrant Redemptions, Earnings, and Expected Ticker Changes

See the full calendar here.

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Thanks for reading,

SPAC Track

spactrack.net

Note: Share prices only included if 5%+ moves and for all De-SPAC PIPE entries

DISCLAIMER: The information provided in this newsletter is for your convenience only and is not intended to be treated as financial, investment, tax, or other advice.