The SPAC Week in Review
A newsletter recapping the past week's SPAC activity (March 7, 2022)
The Stats:
The Deals from the Past Week (1):
1) Provident Acquisition Corp. (PAQC) & Perfect Corp.
Merger Partner Description:
Founded in 2015, Perfect is a global leader in providing AR and AI SaaS solutions to beauty and fashion industries. Utilizing facial 3D modeling, and AI deep learning technologies, Perfect empowers beauty brands with product try-on, facial diagnostics, and digital consultation solutions to provide consumers with an enjoyable, personalized, and convenient omnichannel shopping experience. Today, Perfect has the leading market share in helping the world’s top beauty brands execute digital transformation, improve customer engagement, increase purchase conversion, and drive sales growth while maintaining environmental sustainability and fulfilling social responsibilities.
Valuation: $1.02B EV
News:
Roadside-Assistance Firm Urgently Said in Graf SPAC Merger Talks
Kin [merger with Omnichannel Acquisition Corp. (OCA) terminated in January] Announces $82M First Close in Series D Financing
Geely-Backed Ecarx Weighs SPAC Merger at $4 Billion Value
Bill Foley steps down as Chairman of Paysafe (PSFE)
GM sells its stake in troubled electric pickup maker Lordstown Motors (Engadget)
Merger Votes/ Completions & More Updates:
FTAC Athena Acquisition (FTAA) and Pico’s business combination agreement was terminated “due to Pico’s failure to deliver financial information as required by the Business Combination Agreement”
Supernova Partners Acquisition Company II, Ltd. completed its merger with Rigetti Computing and started trading as RGTI
The transaction raised gross proceeds of appx. $261.75M
Caravelle, “a global carbon-neutral ocean-going technology company”, has signed a letter of intent with Pacifico Acquisition Corp. (PAFO) on 12/31, apparently
East Stone Acquisition Corporation shareholder approved its extension to 8/24/22 with 361 shareholders redeeming
FoxWayne Enterprises Acquisition Corp. (FOXW) and Aerami Therapeutics mutually agree to terminate merger due to “current unfavorable market conditions”
Today’s updates:
Pine Technology Acquisition Corp. (PTOC) and Tomorrow.io Agree to Terminate Merger Agreement due to market conditions
Alpha Tau Medical and Healthcare Capital Corp. (HCCC) Announce Completion of Business Combination with ticker change to DRTS expected tomorrow
The transaction raised appx $90M in gross proceeds
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De-SPAC S-1 Activity (including PIPE resale registrations*):
S-1 filings:
Codere Online (CDRO)
*When applicable
S-4 Activity:
S-4 filings:
26 Capital Acquisition Corp. (ADER) & Okada Manila
SPK Acquisition Corp. (SPK) & Varian Biopharmaceuticals
Upcoming Dates:
Upcoming Announced Shareholder Meetings, Unit Splits, Warrant Redemptions
See the full calendar here.
Thanks for reading,