The Nightcap from SPAC Track
The Nightcap newsletter: SPAC Track’s nightly recap of the action in the SPAC world. (November 15, 2021)
Discover and track all of the SPACs at spactrack.net.
If you haven’t subscribed to this Free nightly newsletter, you can do so below.
The Stats:
The Deals:
1) Waldencast Acquisition Corp. (WALD: warrants +45%) & Obagi & Milk Makeup
Merger Partner Description:
About Obagi
Obagi is an industry-leading, advanced skin care line formulated with scientifically proven ingredients, refined with a legacy of 30 years’ experience. First known as leaders in the treatment of hyperpigmentation with the Obagi Nu-Derm® System, Obagi products are designed to restore skin's natural radiance by visibly improving balance, tone and texture, and diminishing the appearance of premature aging, photodamage, skin discoloration, acne, and sun damage.
About Milk Makeup
Founded in 2016, Milk Makeup quickly became a cult-favorite among the beauty community for its values of self-expression and inclusion, captured by its signature Live Your Look, its innovative formulas and clean ingredients. The brand creates vegan, cruelty-free, clean formulas from its Milk Makeup HQ in Downtown NYC. Currently, Milk Makeup offers over 300 products through its US website www.MilkMakeup.com, and its retail partners including Sephora in North America, Europe, the Middle East and Australia and Cult Beauty and Selfridges in the UK.
Valuation: $1.24B EV
PIPE: $105M and an additional ~$333M from the sponsor in FPA commitments for units
2) CHP Merger Corp. (CHPM: warrants +13.39%) & Accelus
Merger Partner Description:
Accelus is committed to accelerating minimally invasive spine surgery through its enabling technology with broad accessibility to previously underserved markets. Established through the combination of Integrity Implants and Fusion Robotics, Accelus is focused on providing its proprietary Adaptive GeometryTM technology with pragmatic and economical navigation and robotic solutions with broad clinical use in spine surgery.
Valuation: $482M EV
PIPE: No PIPE
Merger Votes/ Completions:
DFP Healthcare Acquisitions Corp. (DFHP) completed its merger with The Oncology Institute and began trading as TOI today
TOI received ~$334M in cash proceeds from the transaction
Leo Holdings III Corp (LIII) Announces Quorum to Pass Business Combination with AgTech Company, Local Bounti and meeting of all Transaction Requirements Inclusive of Minimum Cash Requirement Following Redemption Deadline
Khosla Ventures Acquisition Co. (KVSA) and Valo Health Mutually Agree to Terminate Business Combination Agreement, citing “market conditions, particularly in the biotechnology area". The shareholder meeting to approve the merger was scheduled for tomorrow
If you find this newsletter useful, feel free to share it with a friend and suggest they subscribe:
Tracking De-SPAC S-1s (including PIPE resale registrations):
S-1s that went effective today:
Aurora (AUR: $AUR -2.20%)
Wallbox (WBX: $15.95 -3.74%)
Quick News:
Thimble Point Acquisition Corp, Inc. (THMA) and Pear Therapeutics Announce up to $50M in backstop commitment from the sponsor in exchange for reduced earn-out and announce PIPE lock-ups
IPOs to begin trading tomorrow*:
1) Energem Corp. Announces Pricing of $100,000,000 Initial Public Offering (ENCP-U)
*Priced as of this writing
New S-1s (3):
1) Sieger Healthcare Acquisition Corp (SIGQ)
$75M, 1/3 Warrant
Focus: Healthcare, Biotech, and Pharma
2) Motive Capital Corp II (MTVC)
$250M, 1/3 Warrant
Focus: Fintech
2) ST Energy Transition I Ltd. (STET)
$250M (SAIL), 1/2 Warrant
Focus: Energy Transition / Clean Energy
Upcoming Dates:
This Week’s Announced Shareholder Meetings, Unit Splits, Warrant Redemptions, Earnings, and Expected Ticker Changes
See the full calendar here.
Thanks for reading,