The Nightcap Newsletter from SPAC Track

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

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The Stats:

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The Deals (1):

1) Poema Global Holdings Corp. (PPGH, warrants +6.10%) & Gogoro

  • Merger Partner Description:

    Founded in 2011 to rethink urban energy and inspire the world to move through cities in smarter and more sustainable ways, Gogoro leverages the power of innovation to change the way urban energy is distributed and consumed. Gogoro's battery swapping and vehicle platforms offer a smart, proven and sustainable long-term ecosystem for delivering a new approach to urban mobility. Gogoro has quickly become an innovation leader in vehicle design and electric propulsion, smart battery design, battery swapping, and advanced cloud services that utilize artificial intelligence to manage battery availability and safety. The challenge is massive, but the opportunity to disrupt the status quo, establish new standards, and achieve new levels of sustainable transportation growth in densely populated cities is even greater.

  • Valuation: $2.35B EV

  • PIPE: $257M including investments from Hon Hai (Foxconn) Technology Group, GoTo Group, Generation Investment Management, Taiwan's National Development Fund, Temasek, and Gogoro's founding investor, Dr. Samuel Yin of Ruentex Group

  • Press Release

  • Investor Presentation

Quick News Corner:

  • Cerberus Telecom Acquisition Corp. (CTAC) announced its meeting for merger approval is postponed from today to 9/22, and that 90.4% of public shares were tendered for redemption

  • Atlas Crest Investment Corp (ACIC: $9.92 +5.64%) completed its merger with Archer Aviation. Ticker change to ACHR set for tomorrow.

    • After ~48.5% of redemptions, Archer received $857.6M of gross proceeds, including $600M from the PIPE

  • Soaring Eagle Acquisition Corp. (SRNG: $11.42 +12.73%) completed its merger with Ginkgo Bioworks. Ticker change to DNA set for tomorrow

  • Planet And DMY IV (DMYQ) Announce Upsized PIPE (Additional $50 Million From CPP Investments)

  • Apex Fintech Solutions, Northern Star Investment Corp. II’s (NSTB) merger partner, Acquires Silver Management Group to Strengthen Platform and Expand SaaS Offerings

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

  • Soaring Eagle Acquisition Corp. (SRNG), which completed its merger today with Ginkgo Bioworks (DNA), filed its S-1/A

New S-1s (1):

1) IX Acquisition Corp. (IXAQ)

  • $200M, 1/2 warrant

  • Focus: TMT and ICT (Information & Communications Tech)

Upcoming Dates:

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

Fri, Sep 17

  • Expected Ticker Change:

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

    Atlas Crest Investment Corp (ACIC) → 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.