The Nightcap from SPAC Track

The Nightcap newsletter: SPAC Track’s nightly recap of the action in the SPAC world. (December 3, 2021)

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

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The Stats:

SPAC Track @SPACtrack

#SPACVolume Leaders (12/3) $CFVI 41.2M (+12.5%) $APSG 19.8M (Deal with Amex Global Business Travel, warrants +48%) $BPAC-U 15.1M* $BIOS-U 14.3M* $BOCN-U 11.1M* $GGPI 8.4M $DMYQ 3.5M $ACTD 3M $IPOF 2.7M $FTCV 2.4M

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The Deals:

1) Apollo Strategic Growth Capital (APSG: warrants +47.66%) & American Express Global Business Travel

Merger Partner Description:

American Express Global Business Travel (GBT) is the world’s leading B2B travel platform, providing software and services to manage travel, expenses, and meetings & events for companies of all sizes. We have built the most valuable marketplace in B2B travel to deliver unrivalled choice, value and experiences. With travel professionals in more than 140 countries, our customers and travelers enjoy the powerful backing of American Express Global Business Travel.

• Valuation: $4.98B EV

• PIPE: $335M including investments by Apollo, Ares, HG Vora, Sabre, and Zoom

• Press Release

• Investor Presentation

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Merger Votes/ Completions:

• Aldel Financial (ADF) completed its merger with Hagerty and began trading as HGTY today.

  • An estimated ~26% of the public shares were redeemed

• Foresight Acquisition Corp. (FORE) completed its merger with P3 Health Partners and will begin trading as PIII on Monday

  • An estimated ~88% of the public shares were redeemed

• 890 5th Avenue Partners, Inc. (ENFA) completed its merger with BuzzFeed and will begin trading as BZFD on Monday

• dMY Technology Group, Inc. IV (DMYQ) shareholders approved its merger with Planet

  • Closing is expected to take place on 12/7 with the ticker change to PL on 12/8

  • The transaction raised appx $590M

• GigCapital4 (GIG) shareholders approved its merger with BigBear.ai

  • Closing is expected to take place on 12/7 with the ticker change to BBAI on 12/8

• CBRE Acquisition Holdings, Inc. (CBAH) announces that the merger with Altus Power is on track to close on 12/9 with all conditions being met. Ticker change to AMPS is expected on 12/10

• Merger Vote Set:

  • Altimar Acquisition Corp. II (ATMR) & Fathom: 12/21

  • MCAP Acquisition Corporation (MACQ) & AdTheorent: 12/21

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

S-1 filings:

• SAB Therapeutics (SABS: $9.88 -4.26%)

*when applicable

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New S-1s (3):

1) Keyarch Acquisition Corp (KYCH)

• $100M, 1/2 W, 1 R (1/10th of a share)

• Focus: Tech in U.S., Israel, and Southeast Asia

2) USA Acquisition Corp. (USAX)

• $150M, 1/2 Warrant

• Focus: Software (primary focus on infrastructure software, horizontal applications)

• Management:

  Carter McClelland (Former CEO of Deutsche Bank North America)

• Directors:

  Adriel Lares (Former CFO of Fastly)

  Chuck Robel (Chairman of GoDaddy, Director of Sportradar, and Former Chairman of McAfee)

3) DUET Acquisition Corp. (Ticker not available yet)

• $75M, 1/2 Warrant

• Focus: Middle market tech (excluding China or Hong Kong)

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Upcoming Dates:

Next 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.