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2 new deals today
The Nightcap newsletter: SPAC Track’s nightly recap of the action in the SPAC world. (November 29, 2021)
Today, there were two new deals announced in SPACland.
Though these deals were acquisitions by SPAC targets, Boxed (merging with SVOK) and FiscalNote (merging with DSAC), and not actual SPAC mergers.
With no SPAC mergers announced today, we’ll see by the end of the week if SPAC targets are busier than SPACs in the dealmaking arena.
Discover and track all of the SPACs at spactrack.net.
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The Stats:
#SPAC Volume Leaders (11/29)
$GGPI 8.8M
$DMYQ 5.4M
$TSPQ 3.1M
$SPAQ 3M
$AGC 2.9M
$LCA 2.4M
$DCRC 2.1M
$PFDR 2M
$PSTH 1.7M
$FWAC 1.5M— SPAC Track (spactrack.io) (@SPACtrack)
9:35 PM • Nov 29, 2021
The Deals:
None today.
Merger Votes/ Completions:
ION Acquisition Corp 2, Ltd. (IACB) shareholders approved its merger with Innovid
Closing is expected to be tomorrow, 11/30, with the ticker change to CTV on 12/1
The transaction raised appx $251M after 19.6M shares were redeemed (an estimated ~77% of the public shares)
Greenrose Acquisition Corp. (GNRS) completes its merger with Theraplant. The company was renamed to: The Greenrose Holding Company Inc. and the ticker will remain GNRS.
Initially, GNRS announced the deal with Theraplant, Shango Holdings, Futureworks, and assets of True Harvest.
Subsequently, the SPAC announced that it would only merge with Theraplant and assets of True Harvest, and acquire the other two companies after the initial merger. It has completed the merger with only Theraplant
According to the Press Release, “Greenrose currently expects to continue to work towards the acquisition of each of Shango Holdings, Inc. and Futureworks LLC (d/b/a The Health Center) and certain assets of Arizona-based True Harvest, LLC”.
TPG Pace Solutions Corp. (TPGS) announces that the merger with Vacasa is on track to close on 12/6 with all conditions being met. Ticker change to VCSA is expected on 12/7.
Merger Vote Set:
Investindustrial Acquisition Corp. (IIAC) & Ermenegildo Zegna Group: 12/15
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Tracking De-SPAC S-1s (including PIPE resale registrations*):
S-1s that went effective today:
Bird Global (BRDS: $6.30 -6.53%)
S-1 filings:
Better Therapeutics (BTTX: $7.06 -2.08%)
*when applicable
Quick News:
Alight (ALIT) announces redemption of public warrants with a deadline of 12/27
AerSale (ASLE) announces redemption of public warrants with a deadline of 12/29
CCC Intelligent Solutions Holdings (CCCS) announces redemption of public warrants with a deadline of 12/29
Seven Oaks Acquisition Corp. (SVOK) announced Up to $100 Million Forward-Purchase Agreement in Connection with Proposed Business Combination with Boxed
Boxed, the merger partner of Seven Oaks Acquisition Corp. (SVOK) announced it acquired MaxDelivery, a Manhattan grocery delivery service
Pathfinder Acquisition Corporation (PFDR) lowered min. cash condition from $225M to $125M ahead of its merger with ServiceMax
FiscalNote, the merger partner of Duddell Street Acquisition Corp. (DSAC), announces the acquisition of a global market intelligence company, Frontierview
German eVTOL developer, Volocopter, is scrapping SPAC plans "due to the current extremely unfavorable environment for SPAC transactions", according to a German publication, FinanceFWD (evTOL.com)
IPOs to begin trading tomorrow*:
1) Canna-Global Acquisition Corp Announces Pricing of $200,000,000 Initial Public Offering (CNGL-U)
*Priced as of this writing
New S-1s:
None today.
Upcoming Dates:
This Week’s Announced Shareholder Meetings, Unit Splits, Warrant Redemptions, Earnings, and Expected Ticker Changes
See the full calendar here.
Thanks for reading,