UPDATED: Morning Update from SPAC Track 6/16
Pre-market recap of the action in the SPAC world for SPAC Track's premium subscribers. (June 16, 2022)
The Stats:
Pre-Market Movers*:
Active Moves (1%+): DWAC -3.3%, GGPI -2.9%, TETE -1.2%
Some De-SPAC Moves (10%+): ADN +150%, ELMS +23.6%, RDBX +18.2%, SAI +12.3%, CMRA +11.3%
*at time of this writing
Previous Session Movers & Volume Leaders:
The Deals (1):
Updated to add —>
1) Digital Health Acquisition Corporation (DHAC) and VSee Lab, Inc. & iDoc Telehealth Solutions, Inc.
VSee Lab is a no-code or low-code SaaS platform that enables clinicians and enterprises to create their telehealth workflows without programming. VSee’s system encapsulates more than 500 man-years of development, creating a mobile app or telehealth system to be integrated into existing hospital operations within days.
iDoc Telehealth is an acute care organization, set of integrated telehealth technologies, and team of neurointensivists, neurologists, and nurses that treat and coordinate care for acutely ill patients 24/7 in the Neurointensive Care Unit (NICU) and ICU for stroke, brain trauma, and a wide range of neurological conditions.
“Expected valuation of $110 million”
Updates:
LightJump Acquisition Corporation (LJAQ) filed the investor presentation for its merger with Moolec Science
Sports Ventures Acquisition Corp. (AKIC) and DNEG Mutually Agree to Terminate Business Combination Agreement Due to Unfavorable Market Conditions
DNEG has paid a $1.5M break-up fee to the sponsor
AKIC “will consider other acquisition opportunities, subject to market conditions and timing”
Roth CH Acquisition IV Co. (ROCG) entered into a non-binding LOI “with a target company”
Corner Growth Acquisition Corp. 2 (TRON) shareholders approved the deadline extension from 6/21 to 7/21 and on a monthly basis for an additional 8 months, through 3/21/23
11,093,735 shares were redeemed or 60% of the public SPAC shares, leaving $74.1M in trust
East Stone Acquisition Corp (ESSC) adds $200M to the PIPE for its merger with NTWN
Waldencast Acquisition Corp (WALD) adds $8M to the PIPE for its merger with Obagi and Milk Makeup
Updated to add—> Oaktree Acquisition Corp. II (OACB) completed its merger with Alvotech with the combined company to trade as ALVO starting today
IPOs:
1) Feutune Light Acquisition Corporation Announces Pricing of $85 Million Initial Public Offering (FLFV-U)
New SPACs (S-1s):
No new S-1s
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De-SPAC S-1s (including PIPE resale registrations*):
Effective:
Starry Group (STRY)
S-4 Activity:
S-4/A:
L&F Acquisition Corp. (LNFA) & ZeroFox (3rd amendment)
Waldencast Acquisition Corp. (WALD) & Obagi & Milk Makeup (5th amendment)
Upcoming Dates:
Upcoming Announced Shareholder Meetings, Unit Splits, Warrant Redemptions
See the full calendar here.
SPAC Track Pro Notes:
Please note that a list of all the data points available on the Pro Screener with download eligibility can be found here: spactrack.io/screener-instructions
Thanks for reading,