The Nightcap Newsletter from SPAC Track

The Nightcap newsletter: SPAC Track’s nightly recap of the action in the SPAC world. (September 15, 2021)

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The Stats:

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The Deals (2):

1) EJF Acquisition Corp. (EJFA, warrants +91.8%) & Pagaya Technologies

  • Merger Partner Description:

    Pagaya is a financial technology company working to reshape the lending marketplace by using machine learning, big data analytics, and sophisticated AI-driven credit and analysis technology. Pagaya was built to provide a comprehensive solution to enable the credit industry to deliver their customers a positive experience while simultaneously enhancing the broader credit ecosystem. Its proprietary API seamlessly integrates into its next-gen infrastructure network of partners to deliver a premium customer user experience and greater access to credit.

  • Valuation: $8.5B EV

  • PIPE: $200M from entities associated with the sponsor

  • Press Release

  • Investor Presentation

After Hours Deal:

2) Artisan Acquisition Corp. (ARTA, warrants +166.7% After Hours) & Prenetics

  • Merger Partner Description:

    Founded in 2014, Prenetics is a global leader in genomic and diagnostic testing that is disrupting and decentralising healthcare with a focus on prevention, diagnostics and personalized care. Prenetics is led by serial entrepreneur, Danny Yeung, and operational in 10 countries with a team of over 700. Prenetics develops consumer genetic testing and early colorectal cancer screening; provides COVID-19 testing, rapid point of care and at-home diagnostic testing and medical genetic testing; Prenetics has received strategic funding from Prudential, Alibaba Group, Apis Partners, Beyond Ventures, Gobi Partners and more.

  • Valuation: $1.25B EV

  • PIPE: $60M and $60M FPA including investments from Aspex, PAG, Lippo, Dragonstone, and Xen Capital

  • Press Release

  • Investor Presentation

Quick News Corner:

  • D8 Holdings Corp (DEH) shareholders approved its merger with Vicarious Surgical

    • Vicarious Surgical is set to receive $220M in gross proceeds after 26,745,028 shares were redeemed (77.5%)

    • Min. cash condition was $125M. The PIPE was upsized from $115M to $142M last week

    • Closing is expected on 9/17 with ticker change to RBOT expected on 9/20

  • Rotor Acquisition Corp. (ROT) shareholders approved its merger with Sarcos Robotics

    • Awaiting transaction proceeds/ redemption numbers

Tracking De-SPAC S-1s (PIPE Registrations):

  • The following companies filed S-1s:

    • AEye (LIDR: $7.20 -5.88%)

IPOs to Begin Trading Tomorrow*:

1) SOAR Technology Acquisition Corp. Announces Pricing of $200 Million Initial Public Offering (FLYA-U)

*Priced at the time of this writing

New S-1s (1):

1) Rose Hill Acquisition Corp (ROSE)

  • $125M, 1/2 Warrant

  • Focus: Latin America

Upcoming Dates:

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

Thurs, Sep 16

  • Merger Meetings:

    Cerberus Telecom Acquisition Corp (CTAC) & KORE

  • Expected Ticker Change:

    Rice Acquisition Corp. (RICE) → Archaea Energy (LFG)

  • Unit Split:

    Alpha Healthcare Acquisition Corp. III (ALPA-U)

Fri, Sep 17

  • Expected Ticker Change:

    Soaring Eagle Acquisition Corp. (SRNG) → Ginkgo Bioworks (DNA)

    Atlas Crest Investment Corp (ACIC: $9.39 -7.85%) → Archer Aviation (ACHR)

  • Unit Split:

    Mercury Ecommerce Acquisition Corp. (MEAC-U)

Thanks for reading,

SPAC Track

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.